Hong Kong’s financial system has the resilience and confidence to maintain normal operations despite external shocks, having weathered past crises such as the Asian financial turmoil, says Secretary for Financial Services and the Treasury Christopher Hui Ching-yu.
Despite the global impact of US tariff policies – which he called unreasonable and harmful – Hong Kong’s stock market remains stable and orderly, Hui said in a televised program.
The government recently held a series of major events to showcase Hong Kong’s stability and predictability to overseas investors, Hui said. He added that during a meeting with a visiting business delegation from the United Arab Emirates last week, members noted that the city’s market environment appeared more favorable than portrayed in the media, and showed interest in exploring cooperation.
He said Hong Kong must continue to seek new growth drivers amid global uncertainties, including developing its product markets beyond equities and bonds to help diversify risks.
He also said the government aims to unveil a road map for developing fixed-income and currency markets by year-end to tap opportunities from yuan internationalization and regional integration, and to better align finance with the real economy.
Meanwhile, Hong Kong ranked fourth in fintech in the latest Global Financial Centres Index, with many local Web3 startups founded by overseas entrepreneurs, which Hui said is a sign of the city’s strong appeal.
STAFF REPORTER
