Financial Secretary Paul Chan acknowledged the longstanding rivalry between Hong Kong and Singapore, but insisted their shared future hinges on deeper collaboration.

Speaking at the Singapore National Day Dinner on Friday, Chan highlighted the common traits that have long defined both cities: resilience, agility, and an uncanny ability to adapt at speed.

"We should compete where we must, and co-operate where it matters most. Some describe this as 'co-opetition'. Whatever the term, it is in this spirit that our two cities will each realise our full potential, and that our partnership will contribute most to the region," he said.

To underscore the depth of their economic ties, Chan pointed to substantial cross-investments with Singapore’s holdings in Hong Kong standing at HK$310 billion, while the SAR’s stake in the Lion City is at around HK$340 billion. These figures, he said, are proof of a relationship built on solid ground.

Looking ahead, he proposed that the two financial hubs pool their strengths to amplify the region’s global clout – particularly in shaping standards for emerging sectors like green finance and artificial intelligence governance.


Edited by Edmond Fong