China News Service, Hong Kong, March 22 (Reporter Dai Xiaolu) Will the global market environment need to stabilize, affecting investors' confidence in the Hong Kong market? How is the current performance of Hong Kong's asset and wealth management business? Many industry experts recently emphasized in interviews with reporters from China News Service that "Hong Kong is a cornucopia." They said that Hong Kong's asset and wealth management industry has a solid foundation, a prosperous industry ecosystem, and promising future development.
"The global market is constantly moving forward." Li Bing, president of the Asia-Pacific region of Bloomberg, a business and financial information provider, told reporters that as an international financial center, Hong Kong closely follows the development trend of the global market. Compared with other financial markets, Hong Kong The capital market is more dynamic and competitive, which is quite attractive to Chinese-funded institutions.
Li Bing mentioned that over the past 10 years, the asset management industry has become one of the important pillars for Hong Kong SAR to continue to strengthen its status as an international financial center. The asset management industry has played a key role in helping Hong Kong connect the mainland and international markets.
Li Bing lamented that from "Shanghai-Shenzhen-Hong Kong Stock Connect" to "Cross-border Financial Management Connect", from "Bond Connect" to "Swap Connect", as the interconnection between the financial markets of the mainland and Hong Kong continues to deepen, domestic and foreign investors have More channels meet diversified asset allocation needs. This not only helps consolidate and enhance Hong Kong's status as an international financial center, but also promotes close cooperation and mutual benefit between global investors and the Chinese market.
Lian Shaodong, president of the Hong Kong Chinese Asset Management Association, who focuses on the next development direction of Chinese asset management companies in Hong Kong, said that Hong Kong has always been an important bridge connecting the world and the mainland, serving as an international cross-border investment center and asset management hub. , Hong Kong is the “preferred destination” for many Chinese asset management companies to “go overseas”. Despite facing external challenges, Hong Kong's asset management industry has continued to develop steadily, demonstrating full resilience and huge development potential.
Lian Shaodong cited data and pointed out that as of the end of 2022, the total scale of Hong Kong's asset and wealth management industry was 30.5 trillion yuan (Hong Kong dollars, the same below), with a net capital inflow of 88 billion yuan. The total net capital inflow in the three quarters from the fourth quarter of 2022 to the first half of 2023 was NT$69 billion. Hong Kong remains one of the most important asset management centers in the world.
"It can be said that Hong Kong is a cornucopia." Lian Shaodong admitted that mainland investors have very strong demand for allocating global assets. Hong Kong has no foreign exchange controls, currencies can be freely converted and imported, financial instruments are extremely abundant, and the financial industry has a high degree of freedom, providing investors with sufficient investment convenience.
The Secretary for Financial Services and the Treasury of the SAR Government, Hui Ching-yu, also said at the 2023 Offshore Chinese Fund Awards Ceremony held on the 21st that the development trend of Hong Kong’s asset and wealth management industry is encouraging, and Hong Kong will continue to make good use of the advantages of the two places. Complementary advantages and win-win results will promote financial cooperation with the mainland and international markets, enhance the competitiveness of the asset and wealth management industry, serve the needs of national development and global investors, play a greater role in international financial development connectivity, and look forward to witnessing more of the two The results of local professional cooperation. (over)