Languages

A A A
printprint




Think Hong Kong, Think Finance

Date: 
14 Aug 2019

Before coming on board as the Executive Director of the FSDC, our Chairman Mr Laurence Li has made it clear to me that we would need to keep ‘going out’ to regional and international markets to promote the premier nature of Hong Kong’s financial services industry.

Aligning with this clear expectation, I will be traveling to Los Angeles, where the FSDC will host a panel discussion at Hong Kong Trade Development Council’s signature event ‘Think Asia, Think Hong Kong’ on 20 September. At the panel discussion, prominent industry practitioners will share their views on how businesses can, through utilising Hong Kong as its springboard, capitalise on opportunities presented in and by Asia.

When they come to Hong Kong, international businesses can enjoy access to the efficient private and public markets, which have been buoyant over the last decades. Our globally-recognised regulatory regime, the high quality of its professional services, as well as its connectivity with the Mainland market and international counterparts, have collectively made the city the choice of fundraising and investment activities in the region. Such appeal is well substantiated by numbers – at the top of the world’s IPO fundraising table, Hong Kong raised US$36.7 billion of funds through IPOs last year1; during the first half of 2018 alone, private equity funds raised in Hong Kong already recorded US$12 billion, about 20% of the total funds raised in Asia.2 Together with the development of the Greater Bay Area which promises to promote coordinated regional economic development, international firms investing in and through Hong Kong may enjoy expanded and easier market access to the Mainland market over time.

Following the event in L.A., I will visit other relevant stakeholders in the States to promote Hong Kong’s value as the financial services hub, highlighting some new initiatives happening in town. The vibrant development in areas such as ESG investment and virtual/digital financial services will be highlighted. Discussion about other important areas such as the facilitation of the setup of family offices and the development of insurance products (e.g., annuity) will be on the agenda, too. It is also my intention to feature the unique positioning and the well-established infrastructures of Hong Kong’s financial services industry that have helped offshore investors gaining exposure to the Chinese market.

Impacted by an array of factors, both global and domestic markets are pivoting to their respective new equilibria, but this situation is neither unprecedented nor unmanageable. One thing that the FSDC continues to have faith in is that – when people think of Asia, they will continue to first think of Hong Kong; likewise, when they think of Hong Kong, our resilient financial industry would first ring the bell.

 

Christopher Hui
Executive Director
Financial Services Development Council

 

 

1 HKEX’s Monthly Market Highlights (December 2018), https://www.hkex.com.hk/Market-Data/Statistics/Consolidated-Reports/HKEX-Monthly-Market-Highlights?sc_lang=en&select={99B25159-DF7E-46A8-840D-9F8E07F49AEE}

2 Speech by Financial secretary at Asia Private Equity Forum 2019 (16 January 2019), https://www.info.gov.hk/gia/general/201901/16/P2019011600321.htm


Copyright © 2019 Financial Services Development Council. All rights reserved.