Inviting Global Businesses: Hong Kong’s Role as a Financial Powerhouse

Hong Kong is extending a warm invitation to global businesses, urging them to leverage the city’s position as a prominent international financial center. Leaders in the financial sector are encouraging international companies to collaborate with Hong Kong, contributing to sustainable economic growth along the Belt and Road Initiative.

At the opening session of the Belt and Road Summit, specific attention was given to the theme “Hong Kong: Capital Raising Hub for ASEAN, Middle East, and Beyond.” During this session, the Secretary for Financial Services, and the Treasury Christopher Hui Ching-yu discussed Hong Kong’s readiness to assist countries and regions participating in the Belt and Road Initiative. The aim is to attract international capital and provide crucial support for various projects and developmental efforts.

Financial Initiatives: Green Bonds, Core Climate Marketplace, and Resilience

Hong Kong has undertaken several financial measures to bolster its global standing, including the issuance of green bonds totaling a substantial $22 billion. Additionally, the establishment of the Core Climate, an international carbon marketplace, connects capital with climate-related opportunities not just in Hong Kong but also across the Chinese mainland, Asia, and beyond. The local government encourages businesses to issue bonds in Hong Kong, promoting the growth of the green and sustainable market.

One of the standout features of Hong Kong’s financial landscape is its unwavering stability, setting it apart from other economies in Asia. This stability ensures the city’s continued functionality even in the face of regional or global financial uncertainties, making it a favored destination for international businesses.

The Key Distinction: Hong Kong’s Exceptional Financial Stability in Asia

Looking ahead, Hong Kong is set to host the 5th Conference of the Belt and Road Initiative Tax Administrative Cooperation Forum in September 2024. This event will serve as a platform for productive dialogues, tax cooperation, and capacity building, involving more than 30 tax administrations and interested parties.

Delving deeper into Hong Kong’s capabilities to offer diverse financial services to Belt and Road Initiative participants, a key official highlighted the city’s impressive achievement of securing the fourth position globally in IPO fundraising last year. Hong Kong has consistently served as a significant conduit for foreign investments into the mainland.

The city’s financial stability, which allows it to operate effectively during financial storms, is a prominent factor in attracting Middle East enterprises seeking development opportunities in Hong Kong. The robust financial infrastructure and strong connectivity with the mainland market make it particularly appealing to Middle East businesses and investors.

Nurturing Middle East Ties and Sustaining Financial Leadership Amid Global Challenges

Chinese companies see the Middle East as an exceptionally promising region for fundraising and expanding their businesses. Building robust relationships with the Middle East market is crucial for Hong Kong, especially considering its strong connections to European and African markets.

In conclusion, Hong Kong, leveraging its financial advantages, recognizes the need for a proactive approach to fortify its position and effectively address the evolving challenges in the global landscape. This forward-looking stance is pivotal in preserving its esteemed status as a premier international financial hub.

Hong Kong, leveraging its financial advantages, embraces a proactive approach to strengthen its position and adapt to the ever-evolving global landscape. This forward-looking stance is instrumental in preserving its esteemed status as a premier international financial hub.