Hong Kong Strengthens Global Financial Position - A Bridge Between East and West

Beijing is intensifying its support for Hong Kong to promote the city as a global financial center and expand market access. The Vice Premier announced that high-quality companies would be encouraged to go public and issue bonds in Hong Kong. The effort to further establish international renminbi trade is also a focus. These measures aim to revitalize and expand Hong Kong's financial sector. Hong Kong, known for its open economy, is to be strengthened as a hub of global capital flows. The expansion of the Connect program is intended to make it easier for both international investors and Chinese companies to benefit from each side's economic growth. Efficiency and market liberalization are at the forefront. On the second day of the annual summit of global financial leaders in Hong Kong, more than 300 financial industry leaders gathered. The event, held at the Grand Hyatt Hotel, began with a reception on Monday evening in one of the newest skyscrapers in Central Hong Kong. Interest in the summit was so great that all tickets were sold out a month in advance. In his speech, China's Vice Premier He Lifeng emphasized the dynamics of global changes and encouraged Hong Kong to embrace new opportunities such as fintech development and establishing itself as a family office hub. Before the summit began, Luanne Lim, CEO of HSBC Hong Kong, expressed her impression of the physical presence of high-ranking government officials, seeing it as a strong signal of confidence in Hong Kong. Paul Chan, the Financial Secretary of Hong Kong, emphasized the importance of green and sustainable financial solutions, while Eddie Yue, head of the Hong Kong Monetary Authority, stressed the strategic importance of maintaining the resilience of financial markets and seizing opportunities in a changing China. China's recent stimulus measures have not yet sustainably stabilized investor sentiment, while new opportunities are emerging in the form of digitalization and sustainability initiatives. The city recorded an increase in IPOs for the first time in four years but remains behind the peak years.