Financial Secretary Paul Chan Mo-po speaks at the seminar "challenges of financial security and cyber security and counter measures" at the National Security Education Day, April 15, 2023. (PHOTO / HKSAR GOVERNMENT)

Seizing the key opportunities to economic recovery, the Hong Kong Special Administrative Region must make every effort to promote development with national security as a prerequisite, Financial Secretary Paul Chan Mo-po said in his Sunday blog.

A wide range of activities aimed at people from all walks of life and of all ages was held in Hong Kong on Saturday to strengthen awareness of national security throughout society. The events, Chan said, were conducive to helping the public to deepen their understanding of the relationship between development and security.

In the discussion session of his keynote lecture, Chan emphasized that national security is essential to the long-term stability and prosperity of Hong Kong. As an international financial center, Hong Kong enjoys a high degree of free flow of capital and information, he said, adding that the city must maintain a high level of vigilance to safeguard financial security and cybersecurity.

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Against the backdrop of national security, Hong Kong is growing on a track of high quality with the development and application of a digital economy and Web3. In the past week, a number of large-scale high-tech exhibitions were held in Hong Kong, leading to intensive and in-depth exchanges among participants from home and abroad, the finance chief said.

“These events are a strong demonstration of Hong Kong’s friendly and efficient business environment, while further activating the city’s innovation ecosystem. They also reflect that a stable and secure environment will definitely be more beneficial for promoting investment and development,” he said.

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Meanwhile, to further stimulate consumption and consolidate the momentum of economic recovery, the HKSAR government disbursed the latest batch of electronic consumption vouchers worth HK$3,000 ($382) to permanent residents and new arrivals on Sunday, injecting roughly HK$20 billion ($2.9 billion) into the market. “This will stimulate actual demand for such industries as retail and catering, and bring a more optimistic atmosphere,” Chan said.

Contact the writer at irisli@chinadailyhk.com