Hong Kong’s Financial Services and the Treasury Bureau Director, Paul Hui, has emphasized the region’s strategic positioning as a key advantage in exploring various developmental areas. According to Hui, Hong Kong stands out as the only city that enjoys both global and Chinese advantages. In his recent presentation, Hui identified areas such as green finance, family offices, and virtual assets as potential focal points for Hong Kong authorities to enhance developmental advantages. By ramping up activities in these areas, Hui believes that investors worldwide will gain a better understanding of Hong Kong’s key developmental strengths.
A significant point highlighted by Hui is that about 80% of the over 2,600 companies listed in Hong Kong are from mainland enterprises. This underscores the strong presence of mainland Chinese businesses in Hong Kong’s financial landscape. Hui also pointed out that while mainland China’s economic growth exceeded 5% in 2023, Hong Kong’s GDP growth reached 3.3% during the same period, indicating a positive economic momentum in the region. The synergy between mainland enterprises and Hong Kong’s financial ecosystem has contributed to this growth.
According to Hui, Hong Kong must combine effective governance with a dynamic market environment to attract overseas investment successfully. Strategic focus areas need to be identified to showcase opportunities for global investors. The goal is to position Hong Kong as a gateway for international investment, leveraging its unique positioning between global markets and the Chinese economy. By highlighting specific opportunity areas and providing a conducive business environment, Hong Kong can cement its reputation as a preferred destination for investment.
In light of increasing global uncertainty, Hong Kong’s Monetary Authority Governor, Xu Zhengyu, stressed the importance of “connectors” and “value-added providers” in the financial services sector. These enhancements are crucial for Hong Kong to maintain its indispensable role in the global financial landscape. Zhengyu acknowledged Hong Kong’s reputation as a platform that serves the world with its internationalized and rule-of-law-based model. This framework attracts individuals and businesses seeking capital or investment opportunities, positioning Hong Kong as a leading financial hub in the region.
Hong Kong’s strategic positioning in the financial services sector offers valuable advantages for global developmental relevance. By focusing on key areas of growth, attracting overseas investment, and adapting to the evolving global landscape, Hong Kong can solidify its position as a prominent player in the international financial arena.