Providing Financial Security Among Paul Chan’s Biggest Challenges
Providing financial security and accelerating the economic recovery post-Covid are the two biggest challenges ahead, said Finance Secretary Paul Chan Mo-po, who remains in government for five more years.
In a TV interview, Chan stressed that defending financial security comes first, as Hong Kong needs to take into account ever-changing international political environments and strategize according to the “bottom-line thinking” approach. .
The city must also closely monitor the market in case it is affected by fluctuations, he added.
Chan said the economy should do well thanks to exports, retail trade, food and consumer vouchers as the pandemic is under control.
He predicted that there are still chances that the economy will grow slightly in the second half of this year.
He also wanted Hong Kong to resolutely fight Covid in the future so that the city could resume cross-border logistics with the mainland and consider quarantine-free travel with mainland authorities as soon as possible.
Regarding his term extension, Chan said he had high hopes for the next five years and thanked the central government for the appointment, as well as the appointment and support of new chief executive John Lee. Ka-chiu.
He noted that opportunities and challenges loom in the future at the same time with complicated and changing political and economic environments.
Under Lee’s leadership, the government will work with different sectors to address deep-rooted issues that have plagued this city, including economic inequality, upward youth mobility and housing issues, according to the finance chief.