Hong Kong, according to the Financial Services and the Treasury Bureau Director Paul Hui, is strategically positioned to take advantage of both global and Chinese opportunities. Hui emphasized that Hong Kong is the only city that enjoys a unique combination of global and Chinese advantages, making it a key player in the financial services industry.
In a recent presentation, Hui highlighted several key areas where Hong Kong could focus on for further development. These areas include green finance, family offices, virtual assets, and more. By ramping up activities in these sectors, Hui believes that investors worldwide will gain a better understanding of Hong Kong’s strengths and potential growth opportunities.
One interesting fact mentioned by Hui is that about 80% of the over 2,600 companies listed in Hong Kong are from mainland enterprises. This statistic highlights the strong connection between Hong Kong and mainland China, as well as the region’s attractiveness to companies looking to expand their businesses internationally.
Improving Economic Momentum
According to Hui, the mainland economic growth exceeded 5% in 2023, while Hong Kong’s GDP growth reached 3.3% during the same period. These numbers confirm the improving economic momentum in the region and showcase the potential for further growth and development in the coming years.
Attracting Overseas Investment
To attract overseas investment, Hui mentioned the importance of combining an effective government with an efficient market. By being strategic in the areas of focus, Hong Kong can highlight key opportunities for global investors and create a conducive environment for businesses to thrive.
Greater Need for “Connectors” and “Value-added Providers”
Hong Kong’s Monetary Authority Governor Xu Zhengyu emphasized the importance of having “connectors” and “value-added providers” in the current global environment of increasing uncertainty. By implementing such initiatives, Hong Kong can solidify its role as an indispensable player in the global financial services industry.
Internationalized and Rule-of-Law-Based Model
Zhengyu acknowledged Hong Kong’s reputation as a highly internationalized and rule-of-law-based financial hub. This model has attracted investors looking for a reliable and transparent platform to obtain capital or invest in various industries. As a result, Hong Kong continues to be a top choice for businesses and investors around the world.
Hong Kong’s strategic positioning, combined with its focus on key development areas, makes it a prominent player in the global and Chinese financial services industry. With a strong connection to mainland enterprises, improving economic momentum, and a reputation for transparency and reliability, Hong Kong is well-positioned for further growth and relevance in the international financial market.