Bosses from some of the world's top financial institutions on Tuesday joined the SAR's second Global Financial Leaders’ Investment Summit to discuss issues ranging from the role of technology to the way forward for China's economy.

Addressing the conference's opening at the Four Seasons Hotel in Central, Chief Executive John Lee reassured the gathered heavyweights from the investment world that the SAR had restored its prosperity.

Lee stressed that investment in the SAR had rebounded following a period of mayhem, telling the delegates the "Hong Kong means prosperity".

"Four years ago, Hong Kong was hit by riots and violence. This was then followed by years of the Covid-19 pandemic. Now, we have put an end to the riots, and stability has returned," said Lee.

"In the past two years, initial public offering (IPO) funds raised here reached nearly US$85 billion. We're also Asia's hedge fund hub and the region's second largest private equity centre."

The chief executive of the Hong Kong Monetary Authority, Eddie Yue, told the gathered industry leaders to seize new opportunities while living with uncertainty.

"The complexities and uncertainties are likely to remain with us. Whether you are talking about the interest rate path, higher for longer interest rates around the world, and also the various development in technology and ESG," said Yue, referring to environmental, social and governance issues, one of the topics on the agenda.

"But rather than running away from all these complexities, or just wishfully hoping that they will just go away, let's live in the same way as we did in the last few decades, we believe that we have to live with that complexity."

In a video message to the summit, Vice Premier He Lifeng emphasised Hong Kong's role as a gateway connecting mainland China with the rest of the world.

He, who was appointed yesterday as the office director of the Central Financial and Economic Affairs Commission, described the summit as an important platform to "showcase the charisma" of both China and Hong Kong to the international financial institutions and investors.

“The summit is also an important opportunity for international financial institutions and investors to gain an in-depth understanding of the Hong Kong and mainland markets,” He added.

Participants flying in for the summit include HSBC's chief executive, Noel Quinn, Morgan Stanley's chairman, James Gorman and the head of Goldman Sachs, David Solomon.
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Last updated: 2023-11-07 HKT 10:33