Financial empowerment for industrial development, key role for Hong Kong
2026-01-28
As the first large-scale financial forum held in Hong Kong at the beginning of the 15th Five Year Plan, global political and business leaders discussed at the 19th Asian Financial Forum held from the 26th to the 27th how Hong Kong will enhance its function and connotation as an international financial center in the next five years, explore new opportunities such as commodity trade and international gold trading, and support industrial development through financial strength. International capital is optimistic about China's development opportunities. Representatives from governments and private investment institutions from around the world shuttle through various venues, frequently negotiating with financial institutions and securities firms in mainland China and Hong Kong. Several investors told reporters that China's breakthroughs in emerging fields such as artificial intelligence and new energy will further promote global economic development, and they hope to cooperate with Chinese financial institutions to expand two-way investment channels. The Financial Secretary of the Hong Kong Special Administrative Region, Paul Chan, stated in his speech at the forum that Hong Kong has become an important window for international capital to share opportunities for China's innovation driven development. The Hong Kong secondary market has sufficient depth, strong liquidity, and high degree of internationalization. Companies listed in Hong Kong can simultaneously connect with international and mainland capital pools. In the current context of global value chain restructuring and economies seeking diversified partners, Hong Kong, with its reliable, trustworthy, resource rich, and advantageous location, has become an ideal partner for connecting the mainland with the world, and its importance will be further enhanced. In a joint survey conducted by the Hong Kong Trade Development Council and Ernst&Young on global business and financial leaders, over 78% of respondents believe that Hong Kong is a key hub or important node, indicating that Hong Kong plays an indispensable role in the regional operations of many enterprises. The respondents highly recognize Hong Kong's multifaceted strengths, including its deep capital market, stable IPO channels, ability to provide diversified financial products including offshore RMB services, and its role as a bridge to the mainland. Ernst&Young China Chairman Chen Kai said that Hong Kong's role in the global layout of enterprises is deepening. It not only has traditional advantages such as finance, regulations, and cross-border connectivity, but also demonstrates value-added effects in supporting enterprises to diversify risks, improve governance, and allocate capital. He believes that during the 15th Five Year Plan period, Hong Kong can provide assistance for the country to move towards high-quality development, whether in cross-border capital flows, international asset allocation, or global risk management. The gold trading ecosystem is poised to take off as global geopolitical risks escalate and trade policy uncertainty persists, making gold once again the focus of market investment and hedging. As a key measure for Hong Kong to build an international gold trading center, during this forum, the Financial Services and Treasury Bureau of the Special Administrative Region Government signed a cooperation agreement with the Shanghai Gold Exchange. According to the agreement, both parties will establish a high-level collaborative governance structure for the Hong Kong Gold Central Settlement System and explore the use of the Shanghai Gold Exchange's physical warehousing management system to provide physical gold storage services for Hong Kong and international market participants. The Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government, Xu Zhengyu, said that the Hong Kong Gold Central Clearing System will be put into trial operation within the year. The SAR government will also promote the Hong Kong Airport Authority and financial institutions to expand their gold storage capacity in Hong Kong, with the goal of exceeding 2000 tons within three years. At the same time, Hong Kong gold merchants will be encouraged to cooperate with Shenzhen refining enterprises to promote industrial chain synergy. To increase gold investment products, a new gold fund will be launched this week. In addition, the SAR government plans to submit legislative proposals in the first half of this year to include precious metals in the eligible investment scope of preferential tax systems for relevant funds and single family offices. Attendees believe that Hong Kong's institutional advantages and geographical location provide unique conditions for the development of the gold market. Swiss gold refining and trading company MKS PAMP established its regional headquarters in Hong Kong in October last year. The company's CEO James Emmett spoke at the forum, saying that Hong Kong's close ties with the mainland are a unique advantage, and a series of support measures from the SAR government, such as signing a cooperation agreement with the Shanghai Gold Exchange, can lay the foundation for the development of Hong Kong's gold market. Wang Huabin, Vice President of Bank of China Hong Kong, stated that Hong Kong can build a full chain service system of "trading clearing delivery warehousing" based on its rich experience in gold trading. Meanwhile, by deepening cooperation and collaborative development with the mainland gold market, Hong Kong will provide international investors with richer channels for gold investment and risk management. Empowering industrial development with the power of finance. By 2025, the cumulative amount of new shares raised in Hong Kong will exceed HKD 280 billion, ranking first in the world, connecting emerging industries such as CATL, Sanhua Intelligent Control, and Mindray with global financial and industrial resources. This year's Asian Financial Forum held its first global industry summit, exploring how Hong Kong, as an international financial center, will introduce financial "vitality" to the real economy and promote global industrial transformation. Wang Shuguang, President of China International Capital Corporation, believes that finance will play an important role in supporting China's technological innovation and safeguarding the globalization of enterprises. As a 'super contact', Hong Kong is becoming a gathering place for international patient capital by providing financial support and global resource docking for mainland science and technology innovation enterprises. Hong Kong is the regional headquarters of JPMorgan Chase in the Asia Pacific region, with approximately 4000 employees. J.P. Morgan's Asia Pacific CEO, Shuld Linath, stated that Hong Kong's role as a gateway to the mainland is "extremely important". He pointed out that Hong Kong has a superior geographical location and is an ideal base for managing and covering the entire Asian business. In addition, Hong Kong's vibrant capital market culture is significantly attractive to businesses and talents, and its asset management, capital, and trading businesses also have strong regional competitive advantages. The 15th Five Year Plan proposes to accelerate high-level technological self-reliance and promote the deep integration of technological innovation and industrial innovation. Chen Maobo stated that Hong Kong is using financial power to drive the development of technology and industries. As an international financial center, Hong Kong can provide comprehensive financing options to support technology companies at different stages of development in their business development.
Edit:He Chuanning Responsible editor:Su Suiyue
Source:Xinhua
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