The 14th Asian Financial Forum held online——
Global investors still favor Hong Kong
Affected by the epidemic, the 14th Asian Financial Forum hosted by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council was held online for the first time recently, attracting more than 5,000 people from all over the world to watch, more than the more than 3,500 when it was held offline last year. As an international financial center, Hong Kong still has considerable influence in the world.
The theme of this forum is "Reshaping the New World Economy". It mainly discussed global economic hot topics such as post-epidemic recovery, sustainable development, financial technology, 5G, venture capital, asset and wealth management, and more than 160 people from all over the world Political leaders, financial and investment experts, business leaders and economists participated in the discussion.
Many experts said that Hong Kong is facing the opportunities brought about by the new international situation. It is expected that after the epidemic, Hong Kong's role as an "international financial center" will become more prominent and its value will be more prominent.
Unique advantages
The Chief Executive of the Hong Kong Special Administrative Region Carrie Lam said at the opening speech of the forum that in the face of the new crown pneumonia epidemic, Hong Kong's financial system has been strong and the financial market is operating in an orderly manner, reflecting investors' confidence in the Hong Kong financial market.
She said that mainland China has successfully controlled the epidemic and is the only major economy in the world that achieved real economic growth last year.
Under the framework of "One Country, Two Systems", Hong Kong has a strong foundation and unique advantages.
It is believed that after the epidemic, as a gateway to connect the mainland and the world, Hong Kong will usher in huge development opportunities.
Guo Shuqing, Secretary of the Party Committee of the People's Bank of China and Chairman of the China Banking and Insurance Regulatory Commission, believes that as an international financial center, Hong Kong is ushering in a new century of opportunity.
He said that major changes are currently taking place at home and abroad, and Asia is likely to return to its leading position in civilization hundreds of years ago. All these will bring more favorable conditions for the growth of Hong Kong as an international financial center.
Hong Kong can play an irreplaceable and indispensable role as a bridge and link in the process of the new "dual cycle" of the national economy, the construction of the Guangdong-Hong Kong-Macao Greater Bay Area, the construction of an international scientific and technological innovation center, and the development of offshore RMB business. Will be more prosperous.
"The 2020 epidemic will have a major impact on the global economy. But the widespread vaccination of vaccines brings hope. 2021 should be a better year for the entire economy." Hong Kong Stock Exchange Chairman Shi Meilun observed that Asia has begun to compare Other regions recovered earlier, and she is confident that Asia will continue to be the engine of global economic growth.
The speed of economic recovery in China as a whole is also leading. Hong Kong's role as a bridge connecting China and foreign countries will become more important after the epidemic.
Integration into the Bay Area
Guo Shuqing said that the construction of the Guangdong-Hong Kong-Macao Greater Bay Area will further deepen multi-level economic, trade and financial cooperation on a regional, national and global scale, and Hong Kong can play an important role in the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.
"We will continue to increase the scope and level of the mainland's opening to Hong Kong-funded institutions, and actively expand its development space in the Greater Bay Area. The Greater Bay Area will surely become a leader and demonstration site for our building a modern country." He said.
As for the Hong Kong Special Administrative Region Government, Carrie Lam promised to continue to accelerate the flow of personnel and capital in the Guangdong-Hong Kong-Macao Greater Bay Area to create new markets and business opportunities in the Greater Bay Area.
She took the opening of the "Cross-Border Wealth Management Link" in the Greater Bay Area as an example to explain that the opportunities brought about by the integration of the Guangdong-Hong Kong-Macao Greater Bay Area will bring many benefits to Hong Kong's financial services industry.
Carrie Lam said that on the one hand, the "Cross-border Wealth Management Link" allows 72 million residents in the Greater Bay Area to purchase wealth management products provided by banks in the area, which will promote product diversification and individual cross-border investment choices for residents, greatly expanding Hong Kong's financial services. Potential market.
On the other hand, the soaring funds will in turn consolidate Hong Kong's position as the premier international offshore RMB business center. It is believed that in the future, more international financial institutions will be attracted to join the Greater Bay Area market.
In addition, Guo Shuqing pointed out that Hong Kong can play an important role in the development of offshore RMB business.
"The renminbi is one of the few emerging international currencies in the world. As the world's largest offshore renminbi market, Hong Kong can open more types and larger-scale renminbi financial services, attract customers from all over the world, and accept larger amounts of renminbi funds. "Guo Shuqing said that by optimizing the Shanghai-Hong Kong Stock Connect, Shenzhen-Hong Kong Stock Connect, Bond Connect and other arrangements, Hong Kong can better participate in the country's higher-level comprehensive two-way opening up, steadily promote the internationalization of the RMB, and achieve win-win cooperation with the Mainland.
Focus on the future
This year's Asian Financial Forum specially launched a new "Tomorrow Dialogue" session, which discussed the future development of banking, insurance, financial technology and energy, healthcare, food and agriculture, and technology giants.
Shi Meilun analyzed that the epidemic has changed people's lifestyles and accelerated the development of innovative technologies.
Emerging companies such as biotechnology, financial technology, and new energy will become major economic growth drivers in the next few years.
She said that in 2020, more than 60% of the IPO funds raised on the Hong Kong Stock Exchange will come from emerging economies and biotech companies.
"In the past, many companies believed that listing in the United States would be able to obtain higher valuations, but as Hong Kong has established an ecosystem in the biotechnology sector, the'crowding effect' generated has benefited the valuation of Chinese concept stocks returning to Hong Kong for listing." It is believed that the fund-raising market in Mainland China will continue to remain strong, and the trend of returning to China concept stocks will continue this year.
"As of 2019, Hong Kong's asset management scale reached 3.7 trillion US dollars, ranking second in the world, but there is still a lot of room for growth in the business's asset management scale in Asia." Liu Yingbin, senior assistant president of the Hong Kong Monetary Authority, believes that the epidemic is ongoing Reshape the global economy, including the asset and wealth management industry.
Although the epidemic has brought many challenges to operations, it has also inspired new business models and solutions, and new thinking and investment opportunities have also emerged.
Hong Kong should strive to seize these opportunities to gain access to a larger market.
This forum also has a special area for financial technology, start-ups and global investment opportunities. 140 local and overseas international financial institutions, technology companies, start-ups and investment promotion agencies will be exhibited in the form of virtual exhibitions to showcase financial technology and corporate innovative business ideas.
At the same time, this year's investment project docking has also turned into a new online model. Investment projects cover industries including the Internet of Things, digital technology, health technology, financial technology, education, environment and energy, food and agriculture, infrastructure and real estate.
Wang Lingxi