- Hong Kong’s director of financial services highlighted the region’s strategic location.
- Hong Kong is the only city that enjoys global and Chinese advantages.
- About 80% of the more than 2,600 companies listed on the Hong Kong Stock Exchange are from the mainland.
Hong Kong Financial Services and Treasury Bureau Director Paul Hui highlighted the region’s strategic location as an advantage for exploring several development areas. According to Hui, Hong Kong is the only city that enjoys global and Chinese advantages.
In a recent presentation, Hui highlighted a number of areas he believes Hong Kong authorities could focus on to reap development benefits. He cited areas such as green finance, family offices, virtual assets, etc. The financial services executive believes that intensifying efforts in these areas would allow investors around the world to understand Hong Kong’s main development areas.
Meanwhile, Hui noted that about 80% of the more than 2,600 companies listed on the Hong Kong Stock Exchange are from the mainland. According to him, the mainland’s economic growth in 2023 exceeded 5%, while Hong Kong’s GDP growth reached 3.3% in the same period, confirming the improving economic dynamics of the region.
The director of the Hong Kong Treasury Office believes that the administrative region must combine effective government with an proficient market to attract foreign investment. According to him, Hong Kong authorities must have a strategic approach to areas to focus on, thus highlighting areas of opportunity for investors around the world.
The Governor of the Hong Kong Monetary Authority, Xu Zhengyu, has highlighted the greater need for “connectors” and “added value providers” in the current context of growing global uncertainty. According to Zhengyu, making such adjustments would allow Hong Kong to play an “irreplaceable” role in the scheme of things.
Zhengyu acknowledged that Hong Kong has always been a good platform to serve the world based on a highly internationalized and rule of law model. Hence, people looking to raise capital or invest will always flock to Hong Kong.
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