Paul Chan Mo-po (; born 18 March 1955) is the
Financial Secretary of Hong Kong
The Financial Secretary () is the title held by the Hong Kong government minister who is responsible for all economic and financial matters (“Department of Finance” per Article 60 of the Basic Law). The position is among the three most sen ...
and former
Secretary for Development
The Secretary for Development of the Hong Kong Government is responsible for planning, land development and public works related development policy in Hong Kong. The position was created in 2007 to replace portions of the previous portfolios ...
of
Hong Kong Special Administrative Region
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China (abbr. Hong Kong SAR or HKSAR), is a List of cities in China, city and Special administrative regions of China, special ...
. He was a member of the
Legislative Council of Hong Kong
The Legislative Council of the Hong Kong Special Administrative Region (LegCo) is the unicameral legislature of Hong Kong. It sits under China's " one country, two systems" constitutional arrangement, and is the power centre of Hong Kong ...
(
Accountancy
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language ...
functional constituency
A functional constituency is an electoral device (a non-geographical constituency) used within the political systems of two Special Administrative Regions of the People's Republic of China:
* Functional constituency (Hong Kong)
* Functional cons ...
).
He is an accountant and the former President of the
Hong Kong Institute of Certified Public Accountants
The Hong Kong Institute of Certified Public Accountants (HKICPA, ) is the professional accounting body of Hong Kong.
Its main responsibilities are:
*Registering accountants and issuing practising certificates.
*Regulating the professional cond ...
(HKICPA). He holds
BBA and
MBA
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
degrees from the
Chinese University of Hong Kong
The Chinese University of Hong Kong (CUHK) is a public research university in Ma Liu Shui, Hong Kong, formally established in 1963 by a charter granted by the Legislative Council of Hong Kong. It is the territory's second-oldest university an ...
, where he is an Adjunct
Associate Professor
Associate professor is an academic title with two principal meanings: in the North American system and that of the ''Commonwealth system''.
Overview
In the ''North American system'', used in the United States and many other countries, it is a ...
. He has also studied at the
Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
.
He was awarded the
Grand Bauhinia Medal
The Grand Bauhinia Medal () is the highest award under the Hong Kong honours and awards system; it is to recognise the selected person's lifelong and highly significant contribution to the well-being of Hong Kong. The awardee is entitled to the ...
(GBM) by the Hong Kong SAR Government in 2017.
Biography
Chan is the eldest of a family of four, grew up in a resettlement estate that his family lived in until a
fire destroyed Shek Kip Mei in 1953. Chan was admitted to the
Chinese University of Hong Kong
The Chinese University of Hong Kong (CUHK) is a public research university in Ma Liu Shui, Hong Kong, formally established in 1963 by a charter granted by the Legislative Council of Hong Kong. It is the territory's second-oldest university an ...
, where he graduated with an accounting degree. At one time, he worked by day in the Inland Revenue and by night as a lecturer. He later set up his own accounting firm.
He is an accountant who holds
BBA and
MBA
A Master of Business Administration (MBA; also Master's in Business Administration) is a postgraduate degree focused on business administration. The core courses in an MBA program cover various areas of business administration such as accounti ...
degrees from the
Chinese University of Hong Kong
The Chinese University of Hong Kong (CUHK) is a public research university in Ma Liu Shui, Hong Kong, formally established in 1963 by a charter granted by the Legislative Council of Hong Kong. It is the territory's second-oldest university an ...
and has also studied at the
Harvard Business School
Harvard Business School (HBS) is the graduate business school of Harvard University, a private research university in Boston, Massachusetts. It is consistently ranked among the top business schools in the world and offers a large full-time MBA p ...
. As the former president of the
Hong Kong Institute of Certified Public Accountants
The Hong Kong Institute of Certified Public Accountants (HKICPA, ) is the professional accounting body of Hong Kong.
Its main responsibilities are:
*Registering accountants and issuing practising certificates.
*Regulating the professional cond ...
(HKICPA), he stood for the
accountancy
Accounting, also known as accountancy, is the measurement, processing, and communication of financial and non financial information about economic entities such as businesses and corporations. Accounting, which has been called the "language ...
Functional constituency
A functional constituency is an electoral device (a non-geographical constituency) used within the political systems of two Special Administrative Regions of the People's Republic of China:
* Functional constituency (Hong Kong)
* Functional cons ...
and was
elected to the Legislative Council of Hong Kong in 2008. He is an Adjunct
Associate Professor
Associate professor is an academic title with two principal meanings: in the North American system and that of the ''Commonwealth system''.
Overview
In the ''North American system'', used in the United States and many other countries, it is a ...
at the Chinese University of Hong Kong.
He was appointed the
Secretary for Development
The Secretary for Development of the Hong Kong Government is responsible for planning, land development and public works related development policy in Hong Kong. The position was created in 2007 to replace portions of the previous portfolios ...
and inducted into the CY Leung administration on 30 July 2012 to replace
Mak Chai-kwong
Mak Chai-kwong GBS, JP (, born 16 June 1950) is a Hong Kong civil engineer and civil servant. He served as Permanent Secretary for Development (Works) from 2006 to 2010.
In 2012, he was appointed as Secretary for Development in the inaugural cab ...
, who resigned earlier that month over a housing allowance fraud scandal.
[ He resigned from the Legislative Council on the same day.
He is married to Frieda Hui, and the couple have a son and a daughter.
]
Subdivided flats scandal
As Development Secretary, Paul Chan is responsible for the Buildings Department, whose mission includes dealing with illegal structures. Chan soon became embroiled in a scandal when his wife, Frieda Hui, through a company of which he was a former director, was found to own several properties that had been illegally subdivided.[Tycoon backs Paul Chan in flats row]
''South China Morning Post'', 8 August 2012[Luk, Eddie (23 August 2012)]
"Minister breaks silence in defense of flats-row wife"
. ''The Standard''. Chan denied any knowledge of the subdivided properties and said that in any event he ceased to be a director of the company holding the properties in 1997. After having been served rectification notices by the Building Department, Chan was quoted as saying that tenants partitioned the properties in breach of their leases.
''Ming Pao'' subsequently revealed that, between 1994 and 1996, Harvest Charm Development acquired a total of 10 old flats in Tai Kok Tsui and Jordan while both Chan and his wife Freida were directors. Five of these properties were shown to have been subdivided. When confronted with the facts, Chan said his initial denial meant he had "no knowledge of the current status t those properties
T, or t, is the twentieth letter in the Latin alphabet, used in the modern English alphabet, the alphabets of other western European languages and others worldwide. Its name in English is ''tee'' (pronounced ), plural ''tees''. It is deri ...
[
His initial silence, and then self-contradictory public statements on the matter that were widely seen as deceptive, led to calls for his resignation. ''Ming Pao'' said that Chan must restore public confidence in him by "coming up with some convincing evidence that he has no intention to deceive the public".][ The convenor of the Executive Council also questioned Chan's credibility and the impact of the unfolding scandal on the credibility of the government.][ Chan gave a pledge that he and his wife would not make further investments in the property market, and would divest their shares in Harvest Charm Development, the company at the centre of the controversy.][
]
Development land scandal
In July 2013, Chan was once again the subject of controversy when ''Apple Daily'' revealed that he or his family had an interest in a plot of land in Kwu Tung in the New Territories that the government had plans to develop. Chan was responsible for pushing the project through, and was accused of conflict of interest and failure to make proper disclosure. An editorial in ''The Standard'' noted that, with the exception of Regina Ip, all other pro-establishment figures either remained silent or distanced themselves from Chan over the matter.[
Chan's signature appears on the initial purchase agreement for 20,000 square feet plot of farmland near Sheung Shui. The deal was finalised by a company in which his wife held shares.][Ma, Mary (23 July 2013)]
"Act four in Paul Chan scandals"
. ''The Standard''. Chan said that the land was acquired in 1994 at a cost of HK$350,000 for the family's leisure use. According to an exposé by ''Apple Daily'', the land acquired in 1994 by Chan/Hui through a web of offshore-registered companies, which included 37.5% stake held by BVI-registered Orient Express Holdings Ltd., and Orient Express was held by Frieda Hui (90%) and their son, James (10%). Paul Chan, claiming to be the owner of a piece of land, collected rent in 1996 and issued a receipt to a villager that was using it to grow crops. Chan signed it with a company chop of Statement Industries Ltd. Chan claimed not to remember whether he held out to being the owner of the land.[ Chan said he informed Chief Executive CY Leung of the purchase when he became aware of the government's plan to develop a new town in September 2012, and also informed the Executive Council. His wife then sold her 37.5 percent stake to her family the next month; Executive council members are not required to declare interests of their spouses or family.][Luk, Eddie (23 July 2013)]
"Chan holds ground"
. ''The Standard''. According to ''Apple Daily'', the 37.5% stake of the property held by Oriental Express was sold to her brother on 10 October at HK$2.7 million, and at a profit of around HK$2 million. Although Chan claimed this was at an arms length transaction, the price is estimated to be half the compulsory purchase price. Some legislators and pundits called upon Chan to recuse himself from the project due to his potential conflict of interest, but he refused.[
]
Libel case
In September 2014, the Development Secretary and his wife were found guilty of libel.
. RTHK, 30 September 2014
In 2012 his wife Frieda Hui Po-ming sent a total of six e-mails between 1 and 16 December 2011 to the Chinese International School and about 10 fellow parents of year 13 pupils alleging that Jonathan Lu and his twin sister, Caitlin, had cheated in economics tests.[Chu, Julie (30 September 2014). "Paul Chan and Wife Lose Defamation Case". ''South China Morning Post'', page A1] The emails also alleged that their father Carl, who was a parent governor at the school, attempted to suppress the incident. Four of the emails were written after the school section head had informed her of two investigations that had exonerated the twins. She wrote one more accusatory letter on 16 December, the day after the school had concluded a third investigation and had publicly issued a circular to all students of the findings.[
During the trial, Chan attempted to implicate his wife as wholly responsible for the emails, resulting in Chan being satirised for once again employing the "BMW" defence – acronym for "Blame My Wife". However, the plaintiffs successfully argued that Paul Chan was complicit in the attempted character assassination as he was co-signatory, his Legislative Council email address was copied on the correspondence. In the emails, Hui used her husband's occupation as a legislator to leverage her accusations.
At the end of the case, the judge found that there had been no actual evidence supporting Chan and his wife's accusations. The High Court ordered the couple to pay damages to the plaintiffs amounting to HK$230,000.][
]
Drinking and driving
In October 2012, footage provided by ''Apple Daily
''Apple Daily'' ( zh, link=no, 蘋果日報) was a popular tabloid published in Hong Kong from 1995 to 2021. Founded by Jimmy Lai, it was one of the best-selling Chinese language newspapers in Hong Kong. '' showed someone who looked like Chan driving his car and crossing double white lines. Chan admitted to driving after drinking, and said he was "confident" he was not above the legal limit. Chan later said "I agree that one shouldn't drive after drinking."
Financial secretary
In February 2021's budget announcement, Chan allocated HKD $8,000,000,000 for a "non-recurrent appropriation to a special fund to meet the expenditure for safeguarding national security". It was not mentioned in his speech but rather in a 1000-page document, and Chan said that it would be spent "over the next couple of years", without giving further detail. Jeremy Tam
Jeremy Jansen Tam Man-ho (; born 13 June 1975) is a Hong Kong politician, airline pilot, and former Vice-Chairman of the Hong Kong Civic Party's Kowloon East Branch. He was a former member of the Legislative Council representing Kowloon East, ...
, in response, said that "Eight billion is quite a large amount of money, particularly in this funding you do not have any transparency. We don't know how they are going to use it ... we have absolutely no idea."
In March 2021, Chan claimed that it was "absolutely reasonable" that Beijing was planning to implement electoral changes to have only "patriots" serve in the government.
After the Heritage Foundation
The Heritage Foundation (abbreviated to Heritage) is an American conservative think tank based in Washington, D.C. that is primarily geared toward public policy. The foundation took a leading role in the conservative movement during the presiden ...
downgraded Hong Kong's ranking from their yearly economic freedom index report, Chan said that "When they arrived at that decision, they must have been clouded by their ideological inclination and political bias" and also disputed the view that Beijing is in charge of the city's economic policies.
Housing
In July 2021, Xia Baolong
Xia Baolong (; born 2 December 1952) is a Chinese politician. Originally from Tianjin, Xia began his political career in the Communist Youth League. He served as the vice mayor of Tianjin, governor and Communist Party Secretary of Zhejiang provi ...
stated that before 2049, "We expect Hong Kong society to be more harmonious and peaceful, and the housing problems that we are all concerned about will have been greatly improved. We will bid farewell to subdivided flat
Subdivided flats (also called subdivided units) are flats divided into two or more separate units to house more people. The flats' original partition walls are usually removed, and new ones are erected. New toilets and kitchens are installed, and ...
s and 'cage homes
A bedspace apartment (), also called cage home (), coffin cubicle, or coffin home, is a type of residence that is only large enough for one bunk bed surrounded by a metal cage. This type of residence originated in Hong Kong, and primarily exists ...
'".
Shortly afterwards, Chan interviewed with ''SCMP
The ''South China Morning Post'' (''SCMP''), with its Sunday edition, the ''Sunday Morning Post'', is a Hong Kong-based English-language newspaper owned by Alibaba Group. Founded in 1903 by Tse Tsan-tai and Alfred Cunningham, it has remained ...
'', vowing to help fix issues with housing in Hong Kong
Housing in Hong Kong varies by location and income. More than 7 million people live on about 1,108 km2 (427 mi2) of land in the region, making it one of the densest places in the world.
History
Housing by types
In 2016 the t ...
. Chan said that land supply would need to be increased, and planning procedures would need to be simplified. Chan suggested that town planning laws needed to be changed to be more effective, and in response, a member from the Liber Research Community
Liber Research Community is a non-governmental organization in Hong Kong that focuses on researching land and development policies.
History
The group was created in 2009 by postgraduates, including Chan Kim-ching, who studied geography and ...
said that public participation in planning was essential.
In October 2022, Chan said that the public should not fixate on if new sites for housing are on green belt sites or are close to country parks
A country park is a natural area designated for people to visit and enjoy recreation in a countryside environment.
United Kingdom
History
In the United Kingdom, the term ''country park'' has a special meaning. There are around 250 recognised coun ...
, after some environmental groups expressed concerns about John Lee's policy address on rezoning 255 hectares of such land for housing.
Taiwan
In August 2022, Chan criticized Nancy Pelosi's visit to Taiwan
United States politician Nancy Pelosi, while serving as the speaker of the U.S. House of Representatives, visited Taiwan ( officially the Republic of China) on August 2, 2022. A delegation of five Democratic Party members of the House accompanied ...
. Chan and other government officials were criticized by Lew Mon-hung
Lew Mon-hung (; born 11 December 1948), nicknamed "Dream Bear" based on his Chinese name, is a pro-Beijing Hong Kong businessman, formerly deputy chairman and executive director of Pearl Oriental Oil Limited. Lew was a member of the National ...
for "crossing the line" with his statements on Taiwan, as the Basic Law stipulates that diplomatic affairs of Hong Kong are to be handled by mainland China's Foreign Ministry.
Government COVID-19 policies
On 11 September 2022, Chan said in his blog that increasing the vaccination rate in Hong Kong would be key to reopening the border, without specifying percentages. The same day, the government reported that the first-dose vaccination rate was 93.7%, second-dose rate was 91.1%, and third-dose rate was 74.6%.
On 19 September 2022, Chan claimed that local citizens might be fine with hotel quarantine, stating it "might be acceptable to the locals, but we know it might not be good enough in terms of attracting tourists and international business travellers". In contrast, a survey done by City University of Hong Kong
City University of Hong Kong (CityU) is a world-class public research university located in Kowloon Tong, Hong Kong. It was founded in 1984 as City Polytechnic of Hong Kong and became a fully accredited university in 1994. Currently, CityU is ...
of local citizens showed that a majority preferred the no hotel quarantine model of "0+7" rather than the "3+4" model of 3 days in hotel quarantine. Chan also admitted that Hong Kong had lost too many professionals, stating "We do acknowledge the loss of talent over the past half a year or more, but recently this is more worrying".
On 27 September 2022, Chan said that talent will come back and remain with the city's "0+3" isolation format, and that "Authorities will provide maximum room for resumption of business connections and international activities while not undermining the protection of citizens from disease."
On 17 October 2022, Chan said that the government has "been rationalising our anti-epidemic measures".
On 25 October 2022, Chan said that "We had been out of touch with the rest of the world because of Covid."
Budget and GDP growth
In February 2022, Chan projected the government's deficit for the year at HK$56.3 billion, and in September 2022, revised his projection upwards to HK$100 billion.
Chan said that the official government projection for 2022's GDP growth would be between -0.5% to 0.5%, however, from July to September, it fell 4.5% year over year with one economist saying that a 3% drop for all of 2022 would be possible. In November 2022, the government downgraded Chan's original projection to -3.2% for the year. Chan blamed "poor market conditions, shrinking corporate profits tax, relatively quiet stock and property markets, and less revenue from stamp duties."
In December 2022, Chan acknowledged that the government had to sustain "substantially large" anti-Covid costs.
Singapore
In September 2022, the Global Financial Centres Index
The Global Financial Centres Index (GFCI) is a ranking of the competitiveness of financial centres based on over 29,000 financial centre assessments from an online questionnaire together with over 100 indices from organisations such as the World ...
ranked Hong Kong in 4th place from its previous 3rd place, with Singapore taking 3rd place. On 10 October 2022, Chan defended Hong Kong, and said "But if you look at the content closely, Hong Kong's total score has actually increased by ten," but did not address Singapore's score increasing by 14 points. Chan criticized people who compared Singapore with Hong Kong, saying that those discussions "often relied on vague impressions".
In contrast, in October 2022, former government official Anthony Cheung Bing-leung pointed out how Singapore outperformed Hong Kong, saying that "With the fear of being criticized as "lying flat," Hong Kong lost the initiative in the competition with Singapore for full recovery" from COVID-19.
Financial Summit and personal COVID-19 infection
In March 2022, Chan announced the November 2022 Global Financial Leaders' Investment Summit The Global Financial Leaders' Investment Summit is a financial summit to be hosted in Hong Kong by the Hong Kong Monetary Authority (HKMA), scheduled for 1–3 November 2022.
Background
The initiative was announced by Financial Secretary Paul C ...
. After several US lawmakers asked US-based financial executives to not attend the Summit, Chan said that the lawmakers has a "narrow mindset." ''RTHK'' reported that it was unclear if Chan could attend the Summit due to testing positive for COVID-19. On 31 October 2022, Chan, while in Saudi Arabia with COVID-19, said in an address to Hong Kong FinTech Week that "I would really love to join you in person, but obviously the Arabian hospitality is keeping me away." Chan also said that Hong Kong is "back in business" and "We're back!" while delivering a pre-recorded video to Hong Kong FinTech Week, though he was not able to attend the event in person due to him being unable to fly to Hong Kong until testing negative for COVID, due to Hong Kong's restrictions.
The Department of Health, in a press release issued at 11:57pm on 1 November 2022, said Chan was a "recovered case and was not contagious, and isolation was not required," but did not specify if Chan tested negative on his PCR test. The press release also stated that Chan will attend the Summit but "will not take part in meals," and did not specify the reason behind that if he had "recovered." On 2 November 2022, ''SCMP'' reported that Chan's PCR test was positive. There was no information in the report about Chief Executive John Lee's earlier pledge on 1 November 2022 that Chan would not be allowed any exemptions, and would have to isolate if he tested positive.
Later on 2 November 2022, the government denied that Chan was given any special treatment. In a press release, the government said that Chan "conducted a PCR test upon arrival at the HKIA yesterday and the result was positive with Ct value CT Values are an important part of calculating disinfectant dosage for the chlorination of drinking water. A CT value is the product of the concentration of a disinfectant (e.g. free chlorine) and the contact time with the water being disinfected. ...
within the range of the above-mentioned recovered cases," but did not provide the numerical range of acceptable Ct values which would exempt one from isolation.
On 3 November 2022, Chan said that he did not benefit from any "double standards." In contrast, Hong Kong's leading microbiologist from the University of Hong Kong
The University of Hong Kong (HKU) (Chinese: 香港大學) is a public research university in Hong Kong. Founded in 1887 as the Hong Kong College of Medicine for Chinese, it is the oldest tertiary institution in Hong Kong. HKU was also the fi ...
, Ho Pak-leung, criticized the government's inconsistency and said there was a "failing to comply with a unified standard" with regard to Chan's case.
Made in China
In December 2022, after the WTO ruled against the United States' requirement that products labelled "Made in Hong Kong" be instead labelled as "Made in China
Made in China, Product of China or sometimes Made in PRC is a country of origin label affixed to products manufactured in the People's Republic of China. The ''Made in China'' label is the most recognizable label in the world today, due t ...
," Chan said the WTO ruling was necessary as a matter of principle.
Current positions
Chan is the managing director of Paul Chan & Partners, Hong Kong Limited. He also serves as independent non-executive director
A non-executive director (abbreviated to non-exec, NED or NXD), independent director or external director is a member of the board of directors of a corporation, such as a company, cooperative or non-government organization, but not a member of the ...
for several Hong Kong listed companies.
On 3 July 2020, the Chinese official media, Xinhua
Xinhua News Agency (English pronunciation: )J. C. Wells: Longman Pronunciation Dictionary, 3rd ed., for both British and American English, or New China News Agency, is the official state news agency of the People's Republic of China. Xinhua ...
news agent, stated that the was formally established. There were 10 members of the committee. As the Financial Secretary of Hong Kong, Chan was a member of the committee.
Personal life
Chan and his wife own 2 residential properties.
Chan is a voting member of the Hong Kong Jockey Club
The Hong Kong Jockey Club (HKJC) is one of the oldest institutions in Hong Kong, having been founded in 1884. In 1959, it was granted a Royal Charter and renamed The Royal Hong Kong Jockey Club (). The institution reverted to its original name ...
.
On 27 October 2022, Chan tested positive for COVID-19 while in Saudi Arabia.
References
External links
Official website of Hon Paul Chan Mo Po
{{DEFAULTSORT:Chan, Paul Mo-po
Hong Kong businesspeople
Chinese University of Hong Kong faculty
Hong Kong Christians
Hong Kong accountants
Chinese accountants
Government officials of Hong Kong
Financial Secretaries of Hong Kong
Alumni of the Chinese University of Hong Kong
Harvard Business School alumni
1955 births
Living people
HK LegCo Members 2008–2012
Members of the Election Committee of Hong Kong, 2007–2012
Recipients of the Gold Bauhinia Star
Recipients of the Grand Bauhinia Medal