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FII conference: world’s ‘economic centre of gravity is moving towards Asia,’ says Hong Kong tycoon Victor Fung
- Shifting geopolitics and Asia’s ascent are driving regional economies to collaborate more, business leaders hear
- ‘Asia will represent a bigger proportion of the world as we go forward,’ HXEX boss Aguzin tells forum
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The changing geopolitical landscape and Asia’s ascent on the global stage are driving regional economies to collaborate more closely, leaders said at the first FII conference to be held in Hong Kong.
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“The shift in economic and global geopolitical power [is] coming a little more towards the East,” said Nicolas Aguzin, CEO of Hong Kong Exchanges and Clearing (HKEX), during a panel discussion on how Asia will redefine global financial leadership.
“Asia will represent a bigger proportion of the world as we go forward, and that creates an environment where people need to recalibrate their portfolios and think about how they invest in the context of geopolitics.”
More than 1,000 policymakers, business leaders and investors have gathered to discuss the trends that will impact the world’s future at the two-day FII Priority Hong Kong conference. It is organised by the Future Investment Initiative Institute, a think tank backed by Saudi Arabia’s Public Investment Fund.
Themed “Megatrends Shaping Humanity” and held in partnership with the city’s government and bourse operator Hong Kong Exchanges and Clearing (HKEX), the conference comes as Saudi Arabia and China forge closer ties that are likely to shape global transformation.
The HKEX has been looking to diversify and expand partnerships with local exchanges in Asian and Middle East countries, Aguzin said. It has signed agreements with bourses in Indonesia, Saudi Arabia and Beijing Stock Exchange this year to explore cross-border listings and joint product developments.
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