HSBC Hong Kong CEO sees global tensions, China tech growth drawing wealth to city
HSBC’s local unit gained nearly 2 million new customers in two years as global investors shift assets to Hong Kong
Escalating geopolitical tensions and the rapid growth of Chinese technology companies are prompting international investors to shift more assets to Hong Kong, according to the head of HSBC’s local unit.
“Some of our international clients have contacted our bankers in recent days to seek advice on how to diversify their portfolios amid the geopolitical tensions,” Ng said.
Ng said the bank had also seen capital inflows into Hong Kong and mainland Chinese stocks following the technological breakthrough of artificial intelligence start-up DeepSeek in January last year, when it introduced low-cost, high-efficiency AI models.
“With geopolitical tensions continuing to escalate, and with strong growth opportunities among Chinese technology companies listed in Hong Kong, we expect capital inflows into the city to continue this year,” Ng said.