The 15th Asian financial forum hosted by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council was held online from January 10 to 11. Industry participants discussed online new opportunities for the development of Hong Kong's financial center under the new normal. In her speech, the chief executive of the Hong Kong Special Administrative Region, Mrs Carrie Lam, said that Hong Kong's financial system is characterized by a sound regulatory and risk management system. This system enjoys "one country, two systems" and related institutional advantages, such as a highly open and international market, abundant liquidity, and the free flow of people, information and capital. With the return of "one country, two systems" to the right track, International investors and observers are optimistic about Hong Kong's future. Xiao Yuanqi, vice chairman of the China Banking and Insurance Regulatory Commission, believes that there is great potential for cooperation between the mainland and Hong Kong in the fields of financial management, reinsurance, financial technology and so on. He said that mainland residents' demand for diversified portfolios was soaring, and Hong Kong could use its own advantages to allocate portfolios globally. At the same time, the demand for reinsurance in the mainland is also growing. As a traditional center of the reinsurance industry in the Asia Pacific region, Hong Kong can provide professional institutions and talents such as safety rating agencies, actuaries and investment managers. Statistics show that by the end of 2021, 1222 mainland enterprises listed in Hong Kong, accounting for 47% of the total number of Listed Companies in Hong Kong. Fang Xinghai, vice chairman of the CSRC, believes that the development of Hong Kong's financial center has provided an important boost for mainland enterprises to allocate resources globally and achieve high-quality development, and has also created a good opportunity for global investors to share the dividends of China's long-term and stable economic development. He said that the CSRC will firmly support Hong Kong in consolidating and upgrading its status as an international financial center and further promote the formation of a good situation in which the advantages of the mainland and Hong Kong's capital markets complement each other. Shang Fulin, director of the Economic Committee of the CPPCC National Committee, also said in his speech that in the pattern of opening to the outside world, the Great Bay area of Guangdong, Hong Kong and Macao will give full play to its unique advantages of connecting domestic and international markets and aggregating two kinds of resources. Hong Kong is a gateway to trade and investment exchanges between the mainland and the rest of the world. A stable political and social environment is the best business environment. It is reported that the theme of this forum is "leading the future new normal towards sustainable development", with more than 170 global political and business leaders, financial officials, financial and investment experts participating online. (Xinhua News Agency)
Edit：He Chuanning Responsible editor：Su Suiyue
Source：Xinhua
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