Hong Kong’s Financial Services and the Treasury Bureau Director Paul Hui has highlighted the region’s strategic positioning as an advantage toward exploring several developmental areas. According to Hui, Hong Kong is the only city enjoying global and Chinese advantages.
In a recent presentation, Hui highlighted multiple areas he thinks Hong Kong’s authorities could focus on for developmental advantages. He cited areas like green finance, family offices, virtual assets, etc. The Financial Services Director believes ramping up activities in these areas would allow investors worldwide to understand Hong Kong’s main developmental areas.
Meanwhile, Hui noted that about 80% of the over 2,600 companies listed in Hong Kong are from mainland enterprises. According to him, the mainland economic growth of 2023 exceeded 5%, while Hong Kong’s GDP growth reached 3.3% during the same period, confirming the region’s improving economic momentum.
The Hong Kong Treasury Bureau Director thinks the administrative region needs to combine an effective government with an efficient market to attract overseas investment. According to him, Hong Kong authorities must be strategic in the areas to focus on, thereby highlighting the opportunity areas for investors around the globe.
Hong Kong’s Monetary Authority Governor Xu Zhengyu emphasized the greater need for “connectors” and “value-added providers” in the current context of increasing global uncertainty. According to Zhengyu, implementing such adjustments would allow Hong Kong to play an “irreplaceable” role in the scheme of things.
Zhengyu acknowledged Hong Kong has always been a good platform for serving the world with a highly internationalized and rule-of-law-based model. Hence, people who want to obtain capital or invest will always gather in Hong Kong.
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Source: Cryptocurrency - investing.com
