HK MAINTAINS STABILITY, PROSPERITY

The 18th Asian Financial Forum (AFF), co-organised by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council (HKTDC), opened at the Convention & Exhibition Centre today. 

Themed “Powering the Next Growth Engine”, about 3,600 financial and business elites from over 50 countries and regions will explore how to ignite new engines for growth in 2025 and navigate the challenges ahead.

The HKTDC believes that innovations, such as artificial intelligence (AI) and renewable energy have the potential to drive economic growth, making Hong Kong a key super connector.

HKTDC Deputy Executive Director Patrick Lau noted that Hong Kong could be that connector between the Mainland and the rest of the world.

“We have already been this role for ages. What is new is that we have a lot of new friends and it is again, seen in the Asian Financial Forum, we have a lot of friends from South East Asia, from the Middle East, Central Asia, etc. All coming to the AFF. We can already see actual results that Hong Kong has already made strong progress in this regard, there are so many friends.”

Former World Bank Chief Economist & Senior Vice President Prof Justin Yifu Lin supplemented that with the support of the central government, Hong Kong can maintain its stability and prosperity.

Prof Lin pointed out that Hong Kong is still one of the most important global financial centres - a status that has not changed and will not change, and that as long as China maintains stability and contributes 30% or more to global growth, it would be the most important asset for Hong Kong as a global financial centre.

“In order to maintain the growth that will provide a lot of investment opportunity for companies to enter into the China market, and with that growth certainly, there will be many Chinese companies that want to go to the global markets, and Hong Kong will be a very important intermediary to make that happen. For that certainly, itis good news for Hong Kong.

“People like to have a job, people like to have stability, and that is the underlying force for every country in the world. And so, if we understand that and utilise the competitive advantages of the Chinese economy as well as the competitive advantage of Hong Kong as a global financial centre, global education centre, global service sector, I think Hong Kong will maintain stability and prosperity.”

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