Hong Kong focused on promoting quarantine-free travel

12 Nov 2021

Chief Executive of Hong Kong, Carrie Lam has said the special administrative region’s government will continue to promote Covid vaccination and work towards the resumption of cross-border travel with the mainland and elsewhere without the need to quarantine.

Speaking at the Asia-Pacific Economic Cooperation Economic Leaders' Dialogue with the Apec Business Advisory Council on Thursday, Lam said Hong Kong is among the world’s most effective in controlling the virus.

The Chief Executive added that economies should provide support to SMEs which are especially susceptible to the impact of the pandemic.

Lam also said Hong Kong is the middle of developing the Commercial Data Interchange to tackle the problem of SME financing.

Predicted to start operation in 2022, the new financial infrastructure will provide a centralised platform to enable SMEs to use their own data to obtain access to more convenient financing services.

This will allow secure data sharing based on businesses’ consent, meaning the local banking system can serve the real economy more efficiently, reports The Star.

Lam also echoed Hong Kong’s interest in its accession to the Regional Comprehensive Economic Partnership, reiterating the city’s commitment to free trade and regional economic cooperation.

In regard to sustainable development, the Chief Executive said Hong Kong will aim to achieve carbon neutrality by 2050 via several decarbonisation efforts.

Furthermore, Hong Kong will be promoting green finance within its status as an international financial centre, Lam went on to say.

Alongside the Chief Executive at the Asia-Pacific Economic Cooperation Economic Leaders' Dialogue were Prime Minister of Japan Fumio Kishida, Vietnam President Nguyen Xuan Phuc and Canada's trade minister Mary Ng.

Lam is due to attend the virtual Apec Economic Leaders' Meeting on Friday evening.