Chen Meibao: Hong Kong must seize the key window of opportunity in the next five to ten years to promote the deep integration of shipping and finance.

On June 3, the Secretary of Transport and Logistics of Hong Kong, Ms. Chen Meibao, delivered an opening speech at the Legislative Council meeting on the motion proposed by lawmaker Fan Junhua to "Promote the Development of Hong Kong's Maritime Economy." She stated that against the backdrop of global economic restructuring and rising geopolitical risks, the shipping industry is transitioning from a logistics carrier to an important platform for finance and innovation. Ship financing, leasing, asset securitization, and carbon market trading are continuing to develop, while green transformation and digitization are reshaping the entire industry model. Hong Kong must seize the key window of the next five to ten years to promote deep integration between shipping and finance, enhancing industry value and international influence. The upgrade of the shipping industry is strategically significant for both Hong Kong and the country. For Hong Kong, it helps enhance economic diversification and cyclical resilience, as well as solidifying its status as an international financial center. For the country, Hong Kong can serve as a shipping capital and risk management platform, supporting mainland enterprises to expand overseas and promoting the use of the Renminbi in shipping trade and financing. At the regional level, Hong Kong can collaborate with the Greater Bay Area ports to enhance overall competitiveness and strengthen supply chain resilience and security amid increasing global uncertainties. In conclusion, Ms. Chen Meibao expressed her gratitude to the lawmakers for their motions and amendments, emphasizing the importance of promoting the development of Hong Kong's maritime economy in various sectors such as shipping, marine ecology conservation, fisheries development, maritime technology research, and enhancing the marine tourism experience. She reiterated the government's commitment to addressing the needs and challenges in each of these areas towards the overall goal of advancing Hong Kong's maritime economy. The session concluded with her commitment to listen to the lawmakers' opinions and respond accordingly in the future.