191 views
/Unsplash

Global financial leaders looking to hire more HK talent: Chan

The financial leaders' summit boosted the market's financial status.

When Hong Kong suffered from impacts of strict health restrictions and political woes, the market seeks to prove that it is still the top financial centre in Asia.

To do so, Financial Secretary Paul Chan said the Global Financial Leaders' Investment Summit amplified Hong Kong's role as an international financial centre as global financial institutions were convinced to raise their operation in the market and increase local hiring.

Chan said more senior global executives will also be sent to Hong Kong.

"The summit has sent a powerful message to the world that Hong Kong is back," he added.

Currently, Chan said 77 of the top 100 international banks are in Hong Kong. In August, Banking system in Hong Kong was holding assets to $27t, which is about 9.5 times of 2021 Hong Kong economy.

Virtual assets unfazed

Despite the recent crypto exchange FTX Group filing bankruptcy, Hong Kong's Chan said they still value cryptos and virtual assets and look forward to their development in the market.

"We have pledged to explore financial innovation together with the global VA community," Chan said.

There were also a number of projects to help innovate VAs in the market. Chan also cited their regulatory approach for VAs amidst risks of the assets to financial stability, consumer protection, and terrorist financing.

"In the coming months, we will roll out a new licensing regime for VA services providers. Operators will be subject to regulatory requirements similar to those of traditional financial institutions, including compliance with the anti-money laundering and counter-terrorist financing and investor protection requirements," Chan said.

Join Hong Kong Business community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

HK leads in business confidence index in GBA
However, the current performance index for business activity dropped to 50.6 from 54.1.
Economy
EMSD rolls out Green Welfare NGOs scheme applications
First batch applications will open on 14 October, whilst second batch opens on 30 November.
Hang Seng indexes to include Alibaba-W
This move further enhances mainland Chinese investors' access to its shares.