Monetary Secretary – My Weblog
A brand new bankruptcy in Hong Kong-Heart East cooperation on finance and innovation
The day prior to this I met up with a number of buddies who just lately moved to Hong Kong and attended the Wine and Dine Competition at Central Harbourfront, the place we loved native wines and cuisine from world wide. Whilst admiring the pretty perspectives of Victoria Harbour, we chatted luckily and shared our respective culinary cultures with different native and overseas individuals, who have been in a position to really feel the colourful way of life and cultural range of Hong Kong.
Face-to-face interactions and exchanges permit us to higher perceive the ideas and views of others. In addition they let us exhibit Hong Kong’s distinctive traits of being unfastened and open, with a mixture of Jap and Western cultures and huge construction alternatives. Construction friendships with extra other folks from world wide additionally is helping advertise interregional cooperation in business and innovation, in addition to cultural replace.
The day prior to this I met up with a number of buddies who just lately moved to Hong Kong and skilled the town’s colourful way of life and wealthy cultural range on the Wine and Dine Competition.
The day prior to this I met up with a number of buddies who just lately moved to Hong Kong and skilled the town’s colourful way of life and wealthy cultural range on the Wine and Dine Competition.
The following day I can lead a trade delegation created from representatives from the monetary services and products and innovation sectors to Riyadh, Saudi Arabia, for a three-day seek advice from. This time, we will be able to attend the 8th version of the Long run Funding Initiative (FII) and advertise deeper exchanges and discussions between Hong Kong’s monetary and innovation sectors, and related establishments and representatives from the Heart East, via a chain of actions, together with bilateral conferences, breakfasts, roundtables and cross-sector funding displays. That is anticipated to lend a hand Hong Kong corporations extend their networks in Saudi Arabia and different Gulf international locations, making long term trade construction and collaboration extra centered and handy.
This shuttle to Riyadh is especially important as we will be able to be taking the primary direct flight to renew after greater than 4 years of suspension because of the pandemic. It symbolizes a better connection between Hong Kong and Saudi Arabia and marks a brand new segment of deeper and extra various cooperation between Hong Kong and the Heart East.
One of the vital key actions right through this seek advice from can be to witness the record of the primary two exchange-traded price range (ETFs) monitoring Hong Kong shares at the Saudi Arabian Inventory Trade. Because of this Saudi traders will be capable of put money into the Hong Kong inventory marketplace extra very easily, via in the community indexed ETFs in a well-known buying and selling and regulatory atmosphere.
If truth be told, overdue ultimate yr, we facilitated the record of the primary ETF monitoring Saudi shares in Hong Kong, permitting Hong Kong price range to put money into the Saudi marketplace. 12 months later, we welcome the largest-scale Hong Kong inventory ETFs to be indexed in Saudi Arabia, showcasing the mutual go with the flow of price range between the 2 markets and enriching monetary connectivity beneath the framework of the Belt and Highway Initiative. It’s anticipated that when the record of those two Hong Kong inventory ETFs, extra bilateral monetary merchandise can be offered, boosting the go with the flow of price range between the 2 areas and elevating extra Heart Jap capital for the Hong Kong marketplace. They’re going to additionally permit traders within the area to higher perceive our marketplace.
Any other goal of this seek advice from is to boost up and deepen cooperation in innovation and era between the 2 areas. In recent times, Saudi Arabia has dedicated to its Imaginative and prescient 2030 to advertise diverse financial construction and is dedicated to attracting extra overseas investments in addition to technological contributions for more than a few kinds of tasks. This time, corporations from Hong Kong Science and Generation Parks will convey greater than 20 era startups and cling roadshows in Saudi Arabia, whilst companions from Hong Kong Funding Company Restricted may also take part in probably the most actions to exhibit the achievements of Hong Kong’s sturdy innovation and era construction, at the side of an more and more complete innovation ecosystem. They’re going to perform exchanges with Saudi funding establishments. That is anticipated to lend a hand corporations discover extra collaboration alternatives.
The day prior to this I met up with a number of buddies who just lately moved to Hong Kong and skilled the town’s colourful way of life and wealthy cultural range on the Wine and Dine Competition.
Pictured with different participants of the general public on the Wine and Dine Competition.
The theme of this yr’s FII is “Infinite Horizons: Investing Today, Shaping Tomorrow”, and the development will convey in combination best political and trade leaders from the Heart East and world wide to talk about the best way to use funding to pressure a extra filthy rich and sustainable long term for humanity. Many participants of the delegation, together with myself, will talk within the plenary consultation and in different subforums. We goal to exhibit Hong Kong’s extremely internationalized persona and its distinctive position and benefits as a “super connector” and “super value adder” beneath the “one country, two systems” settlement. We will be able to actively inform the nice tales of China and Hong Kong.
Reflecting on fresh years, it’s obvious that construction friendships, reinforcing consider and searching for win-win results can foster extra interactive exchanges and cooperation with the Heart East marketplace. The Hong Kong SAR govt crew visited the Heart East a number of instances during the last two years, together with my participation within the FII assembly in Saudi Arabia in 2022, the place we effectively lobbied for the primary FII Precedence Asia Summit to be held in Hong Kong ultimate yr, right through which the primary Saudi ETF used to be indexed at the Hong Kong Inventory Trade. And now the time has come to record Hong Kong inventory ETFs within the area. This step by step development concerned the trouble and determination of many buddies and establishments from more than a few sectors. Building at all times has its procedure; Through enticing in deeper and broader bilateral exchanges and mutually recommended construction, we will be able to regularly open up new dimensions for Hong Kong enterprises to extend to in a foreign country areas and draw in extra long-term financing resources for the Hong Kong marketplace. All of this will likely solidify Hong Kong’s place as a global monetary, maritime and business centre.
October 27, 2024
