HK to pull in more private equity funds, says Paul Chan

Hong Kong hopes to attract more private equity funds in the future and promote the city as an important fund management center in Asia, Financial Secretary Paul Chan Mo-po told the virtual Asian Financial Forum today.

Chan said the Wealth Management Connect, a cross-boundary pilot scheme, helps Greater Bay Area residents to invest.

This came after the Hong Kong Exchange and Clearing (0388) reached an agreement with MSCI indexes to launch futures and options contracts, which helps strengthen Hong Kong's position as a risk management center, Chan added.

In May 2020, HKEX signed a 10-year licensing agreement with MSCI to license a suite of MSCI indexes in Asia and Emerging Markets for the launch of 37 futures and options contracts in Hong Kong.

He also said government previously introduced sustainable finance development strategies and plans to launch US$8.5 billion (HK$66.3 billion) green bonds in 5 years.