Financial Secretary Paul Chan Mo-po has welcomed Swiss financial institutions and family offices to expand their investment and business scale in the Hong Kong Special Administrative Region and allocate more assets to the city and Chinese mainland markets.
He urged them to seize the vibrant investment opportunities offered by the SAR and the mainland while holding a roundtable meeting with representatives of a number of banks, asset management institutions and family offices upon his arrival in Zurich, Switzerland on Thursday.
Chan introduced the advantages and new development opportunities of Hong Kong and the Guangdong-Hong Kong-Macao Greater Bay Area in areas including finance, innovation, trade and advanced manufacturing and had in-depth exchanges on issues of concern to the participants.
Pointing out that Hong Kong’s economy had maintained steady growth over the past two years or so and its financial markets had remained active, the finance chief said more enterprises have raised funds in the city’s stock market to develop their overseas businesses.
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The HKSAR ranked first globally in terms of funds raised through initial public offerings, both last year and so far this year, drawing investors from the mainland and overseas, he said. Amid the current geopolitical landscape, many international investors regard the city as a safe harbor for capital and a springboard for diversified investment into the mainland market, contributing to the strong performance of HKSAR’s stock market, he added.
Referring to continuous reform of the city’s bourse, expansion of connectivity with capital markets around the world, enhancement of market liquidity and more diversified investment choices, he said Hong Kong continues to promote product innovation and expand market scale in various areas such as fixed-income and currency markets, asset and wealth management, and green finance.
Chan also pointed out that the city is actively developing gold and commodities trading markets to enrich the offerings of its international financial center.
The substantial demand from high-net-worth individuals in the Greater Bay Area and Southeast Asia for cross-border asset allocation has prompted many overseas asset and wealth management institutions to expand their businesses in Hong Kong, he said.
The city adopts a proactive and open attitude regarding financial innovation, promoting the application and development of digital assets under the principle of placing equal emphasis on prudent regulation and market development, he told the roundtable.
Chan also called on Chinese Consul General in Zurich and for the Principality of Liechtenstein, Chen Yun and introduced Hong Kong’s latest economic and social situation. They exchanged views on China-Europe relations and the global political and economic landscape, the statement added.
