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Hong Kong financial summit 2022
BusinessBanking & Finance

John Lee urges global banks to ‘get in front’ of the queue for business as Hong Kong ‘puts the worst’ behind it

  • The conference at the Four Seasons Hotel is packed with panels and fireside chats with global bankers and fund managers
  • Three of China’s financial regulators held a pre-recorded panel discussion moderated by HKMA’s chief executive Eddie Yue Wai-man

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Hong Kong’s Chief Executive John Lee Ka-chiu spoke at the Global Financial Leaders’ Investment Summit at the Four Seasons Hotel in Central on 2 November 2022. Photo: Sam Tsang
Mia Castagnone,Enoch Yiu,Pearl LiuandPeggy Sito
The Global Financial Leaders’ Investment Summit kicked off publicly today in Hong Kong, with the de facto central bank hosting the largest gathering of financial heavyweights the city has seen in almost three years.

More than 200 international and regional leaders from around 120 global financial institutions including banks, securities firms, asset managers, private equity and venture capital firms, hedge funds, and insurers are attending the three-day summit, according to the HKMA.

Hong Kong “remains the only place in the world [where] global advantages and the China advantage come together in a single city,” said Chief Executive John Lee Ka-chiu, in a speech live-streamed from the summit’s venue at the Four Seasons Hotel in Central. “Opportunity and timing, right here, right now in Hong Kong. This is the moment you have been waiting for. Go for it. Get in front, not behind.”

Lee highlighted three government policies to enhance the city’s competitiveness: Hong Kong Investment Corporation’s plan to optimise the use of fiscal reserves in steering economic development, the HK$30 billion (US$3.8 billion) scheme to help businesses set up in Hong Kong, and an array of new initiatives including the top talent scheme to help enterprises build a base in Hong Kong.

Hong Kong’s unique location – the heart of Asia, an air cargo hub, five universities among the world’s top 100, proximity to China’s market, the Greater Bay Area (GBA), as well as the Belt and Road Initiative (BRI) – makes it the best city for business, said Lee.

At a separate event on Wednesday evening organised by the Hong Kong Trade Development Council, Lee emphasised his results-oriented approach to running the city “like a business”.

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