"We open the door again!" Li Jiachao: Hong Kong will definitely achieve a new leap

　　On November 2, Typhoon "Nig" swept through Hong Kong, and the Hong Kong Observatory issued a "Typhoon Signal No. 8" at 1:40 p.m., but overseas guests participating in the Hong Kong International Financial Leaders Investment Summit still attended the summit regardless of weather.

They came for Hong Kong and for Hong Kong's irreplaceable unique advantages.

Financial leaders attended the summit.

Photo by China News Agency reporter Li Zhihua

　　The summit brought together more than 200 international and regional leaders from about 120 financial institutions around the world to Hong Kong, of which more than 40 are group chairman or chief executive.

Li Jiachao, Chief Executive of the Hong Kong Special Administrative Region, delivered a keynote speech.

Photo by China News Agency reporter Li Zhihua

Video: Li Jiachao: Hong Kong is the only city with both global and Chinese advantages

　　Li Jiachao, Chief Executive of the Hong Kong Special Administrative Region, said in his speech at the summit that the worst situation in Hong Kong has passed, and he has seen Hong Kong's rapid recovery. .

　　He said that Hong Kong has experienced many ups and downs in the past few decades, but Hong Kong has an incomparably strong resilience. In the face of many difficulties, Hong Kong's financial system is still strong and stable, which is enviable.

　　"Now, we open the door again to welcome and entertain visitors from all over the world with joy." Li Jiachao welcomed the arrival of overseas guests at the summit, saying that "one country, two systems" ensures seamless integration between Hong Kong and the mainland and provides Hong Kong with other advantages that the economy does not get.

　　"Hong Kong is still the only city in the world that brings together global advantages and Chinese advantages. This unique integration makes us an irreplaceable platform for connecting the mainland and the rest of the world." Li Jiachao emphasized.

　　He continued that with the eastward shift of the world's economic center of gravity, many fast-growing economies in the Mainland and the region are bound to become the main engine of global economic growth and a source of business opportunities.

Hong Kong is well-positioned to share in the enormous benefits of this irreversible trend.

Yu Weiwen, Chief Executive of the Hong Kong Monetary Authority, delivered a welcome speech.

Photo by China News Agency reporter Li Zhihua

　　"Let me talk about another definite advantage: Hong Kong is one of the world's leading financial centers and China's major international financial center." Li Jiachao listed them all:

　　In 2020, the economic contribution of Hong Kong's financial services industry reached US$76 billion, accounting for 23.4% of GDP.

In the past 13 years, Hong Kong has topped the global IPO fundraising chart seven times.

Hong Kong is also one of the world's leading centres for biotechnology fundraising.

　　Total market turnover on the Hong Kong Stock Exchange hit a record $5.2 trillion last year.

Assets held by our banking system are equivalent to about 9.4 times the 2021 GDP.

　　Last year, Hong Kong's insurance industry's assets under management exceeded US$4.5 trillion, ranking first in Asia and second in the world, with two-thirds of the funds coming from non-Hong Kong investors.

　　Hong Kong is also Asia's leading bond hub, and has been the world's largest center for arranging Asian international bond issuance for six consecutive years.

We are the first Asian local government to issue 30-year and 20-year green bonds denominated in USD and EUR respectively.

　　“These are not mere numbers, they demonstrate Hong Kong’s enormous advantages in financial services. I am 100% sure that we were, are and will continue to be one of the world’s leading financial centres!” he said: “Hong Kong will definitely be A new leap forward.”

　　The Hong Kong Monetary Authority (HKMA) is the organizer of the summit. In his speech, Mr. Yu Weiwen, president of the HKMA, said: "The summit was held under a typhoon. It was a noble person who went out to attract wind and rain. Thank you overseas guests for coming to Hong Kong. Now Hong Kong has reopened." He also predicted that such a lively summit will be held again next year.

　　At the meeting, the guests discussed the uncertainties in the global financial industry.

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, said the China Securities Regulatory Commission regards Hong Kong as a very important international financial center in China and the world.

The country expects to develop a high-quality economy, which requires a high-quality capital market, and Hong Kong already has a high-quality capital market.

The country's economic development needs Hong Kong, and Hong Kong will play a very important role in helping the country's economic growth.

Therefore, the CSRC will fully support relevant national policies to help Hong Kong become a stronger financial center.

Video: Fang Xinghai, Vice Chairman of China Securities Regulatory Commission: The state will help Hong Kong become a stronger financial center

　　Zhu Jiajian, a Hong Kong current affairs commentator, said in an interview with a reporter from China News Agency that the summit has restored the confidence of investors and professionals around the world in Hong Kong as an international financial center. It is expected that the stock market, insurance and other fields will resume normal operations, while some supportive services (eg: arbitration) will be triggered accordingly.

In this way, investors will be willing to put money into Hong Kong, professionals will be attracted, and hotels and tourism industries will also be expected to recover.

　　Good things come in pairs.

On October 31, the Hong Kong Fintech Week opened at the Wanchai Convention and Exhibition Center. This is a major event in the Asian financial technology industry. Hundreds of industry leaders from all over the world participated. If you count the number of online participants, the scale is expected to exceed two. million people.

On October 31st, the "Hong Kong Fintech Week 2022" opened, and the event consisted of two parts: a forum and an exhibition.

The picture shows the exhibition grounds.

Photo by China News Agency reporter Chen Yongnuo

　　On the opening day of the Fintech Week, the Hong Kong SAR government issued a policy declaration on the development of virtual assets in Hong Kong, which means that Hong Kong will embrace the future and promote the sustainable development of financial services throughout the virtual asset value chain.

The manifesto also proposed experimental plans, including the issuance of non-fungible tokens (NFTs), green bond tokenization and digital Hong Kong dollars for the Hong Kong Fintech Week, with the aim of testing the technical benefits brought by virtual assets and trying to further the technology. applied to financial markets.

　　Rainbow after the storm, Hong Kong's combination of boxing in the financial sector will further consolidate its status as an international financial center. Hong Kong will continue to be full of energy and vitality, and shine in the center of the stage.

　　Text: Wei Huadu

　　Photography: Li Zhihua Chen Yongnuo

　　Video: Fan Siyi and Luo Siyu