China News Service, Hong Kong, November 11 (Reporter Dai Xiaolu) The three-day activities of the second International Financial Leaders Investment Summit ended on November 8. Organised by the Hong Kong Monetary Authority (HKMA) under the theme of "Navigating a Complex Environment", the summit attracted more than 8 leaders from the world's top financial institutions. The support of many financial elites at the meeting is a "vote of confidence" in the economies of the mainland and Hong Kong, and some participants said that the world should pay attention to and invest in China.
Hong Kong SAR Chief Executive John Lee said in his speech at the main summit on the 7th that Hong Kong has the advantages of "one country, two systems" and the common law system, and is one of the most competitive cities in the world. The global financial markets remain bullish on Hong Kong and are confident in its future as it creates opportunities for business, finance and investment around the world.
Eddie Yue, Chief Executive of the HKMA, said that the financial elites attending the meeting came to Hong Kong to cast a vote of confidence in Hong Kong's international financial centre, and that these heavyweight international figures will help "tell Hong Kong's story well", which will attract global attention and help consolidate Hong Kong's status as an international financial centre.
The Chief Executive Officer of the Securities and Futures Commission of Hong Kong, Julia Leung, said that the global economic center of gravity has accelerated to the Asia-Pacific region since 20 years ago, and the focus of asset management has also come to Hong Kong. The speakers who attended the summit had assets under management of more than US$20 trillion, which is a testament to the scale of the summit and Hong Kong's status as a global asset and wealth management centre.
"International investors should 'pay attention to and invest' in China." Ken Griffin, founder and CEO of Castle Investments, an American hedge fund, said bluntly that Hong Kong is an important platform connecting Chinese mainland and the world, and the company has been investing in Hong Kong for the past 30 years, and Hong Kong has a strong attraction as an international financial center. He also mentioned that Chinese mainland's manufactured products are becoming more and more competitive around the world, and the competitive advantage is obvious, and believes that investors need to pay close attention to the development of relevant industries in the mainland.
Anne Richards, CEO of Fidelity International, believes that China's economy is an important part of the world economy, and China is a "critical link" in the global supply chain and affects the flow of global capital. "China's economic development has a direct impact on the future of the world economy."
In response to international investors' concerns about the speed of China's economic recovery and the real estate market, the summit featured a discussion session on "The Mainland: Looking Forward". Zhang Qingsong, deputy governor of the People's Bank of China, gave a detailed introduction to China's economic development and related policies. He said that after three years of the epidemic, China's economy has indeed faced some pressures and challenges this year, but on the whole, China's economy is resilient and dynamic, and in the long run, the fundamentals of China's economic stability and improvement have not changed.
Noel Quinn, Chief Executive Officer of HSBC Holdings plc, noted that the Group's wealth management business has grown rapidly since the resumption of full border travel between Hong Kong and the Mainland at the beginning of this year. He said at the summit that wealth management business flowing into Hong Kong from Chinese mainland has increased by 3 to 4 times since the beginning of this year compared with before the epidemic, HSBC's retail banking business in the Guangdong-Hong Kong-Macao Greater Bay Area has increased by 70%, and Hong Kong's SME new business has also increased by 90%. ”
Mark Wiedman, head of BlackRock's global client business, said that China's capital market ranks second in the world and is likely to develop into the world's first in the future, so it seems that Chinese assets have a high investment value in the global asset portfolio. He noted that there are now about $4 trillion in cash "floating around" in markets outside of China, waiting to be acted. He believes that the current challenges facing China's economy are only cyclical, and in the long run, China will play a more important role in the future development of the global economy and capital markets. (ENDS)