China News Service, Hong Kong, August 18 (Dai Xiaoluo) The United Hong Kong Foundation held the "Unity Zhuoer Forum" on the 18th. A group of industry authorities, experts and scholars deeply analyzed how Hong Kong is in the changing external situation and increasingly fierce regional competition. To enhance competitiveness and consolidate its status as an international financial center.
Experts at the meeting believed that Hong Kong's status as an international financial center is difficult to shake.
Liu Zunyi, former president of the Chinese University of Hong Kong and chair professor of economics, pointed out in his keynote speech that in the next ten years, China's economic growth rate may exceed that of North America and Europe.
Until 2030, China's economy can grow at an annual rate of more than 6%.
He predicts that the real GDP of mainland China will be the same as that of the United States, and the national saving rate will exceed 40%, and the wealth of Chinese households and institutions will achieve leapfrog growth, which will further promote China's demand for investment in overseas assets.
Liu Zunyi also mentioned that in the next 10 years, the internationalization of the renminbi will be accelerated, and the use of US dollars for clearing and settlement on a global scale will decrease.
Since Hong Kong financial institutions have a large number of offshore RMB deposits, he believes that the use of RMB in Hong Kong should be more convenient. For example, securities can be traded on the Hong Kong Stock Exchange with RMB and securities on the Shenzhen Stock Exchange with Hong Kong dollars.
Hong Kong was rated as the world's third largest international financial center and the freest economy, representing that the Hong Kong market maintains a high degree of liquidity.
Today, China has a large number of assets looking for international investment opportunities, and international investors still have a low allocation to Chinese assets.
He expects Hong Kong to take advantage of China's next wave of growth.
The official opening of the exchange-traded fund (ETF) into the Mainland and Hong Kong stock market interconnection mechanism further strengthens the connection between the Mainland and Hong Kong capital markets.
Chen Delin, former president of the Hong Kong Monetary Authority, emphasized in his speech that Hong Kong's success is due to its close proximity to the mainland market, and the city's unique advantages will not be replaced.
He suggested that Hong Kong continue to expand capital flows with the mainland, and further develop digital technology by establishing new channels, so as to ensure that funds will not flow to other places under the interconnection mechanism.
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