Exclusive | Hong Kong’s financial future hinges on adapting to China’s hi-tech pivot: Huatai HK CEO
To capitalise on the surge of hi-tech and biotech IPOs, Hong Kong introduced a slew of measures to speed up the listing process
This is the sixth and final part of the exclusive Capital Connectors series in which influential Chinese and global bankers reveal the opportunities and challenges for Hong Kong in its evolution as an international financial hub.
If history serves as a guide, Hong Kong’s continued reign as a premier international financial centre depends on a time-tested formula: adapting to meet evolving needs, particularly in response to the development of China’s economy, according to Wang Lei, CEO of Huatai Financial Holdings.
Now, as China pivots towards tech self-sufficiency and advanced manufacturing development, Hong Kong faces a new task, according to Wang.
“Hong Kong’s success as an international financial hub always lies in how it meets the motherland’s financing demands,” he said. “Like in the past, this will remain a tremendous opportunity for Hong Kong in this new era.”
Wang, who is also a member of the Hong Kong Chief Executive’s Council of Advisers, said the city needed to design “financial frameworks focusing on specialised technology sectors to support [capital needs from] global companies”.