Hong Kong summit kicks off as CEOs set to discuss China’s ideas on stimulus, Trump
‘Sailing Through Changes’ is the theme of this year’s investment summit, with China stimulus and Trumponomics likely to be hotly debated
Hong Kong’s flagship financial event is bringing together the CEOs of some of the world’s biggest banking groups, promising access to China’s top decision makers at a time when investors are scrutinising Beijing for its stimulus and response to the incoming US administration.
Vice-Premier He Lifeng is leading a delegation of top officials, including Wu Qing, head of the China Securities Regulatory Commission (CSRC), at the Global Financial Leaders’ Investment Summit, which kicks off today with a welcome banquet dinner.
Top executives from HSBC, Goldman Sachs, JPMorgan Chase, Citigroup, BNP Paribas, Oaktree Capital Management and KKR, to name a few, are in town in a show of support for Hong Kong, a key profit centre for many of them and a major regional headquarters for others.
The delegation is Beijing’s biggest on-site since the annual event began in 2022. Since launching its stimulus blitz in late September, much of the gains and optimism have waned, as China held back from delivering more big-bang measures to shore up the housing and stock markets.
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“My hope is that this is kind of their whatever-it-takes moment, but really, what they have really done is put down their foot and say, ‘we are going to do whatever it takes not to crash the car’,” Karen Karniol-Tambour, co-chief investment officer at Bridgewater Associates, said in a podcast last month. “That is not the same as ‘whatever it takes to get things to be great’.”
There are still a lot of things Chinese policymakers can do, she added.
