Hong Kong: Business leaders, lawmakers and academics in Hong Kong have thrown their weight behind the city’s bid to seize opportunities arising from offshore yuan financing, Belt and Road fundraising, financial technology applications and the “finance-plus-technology” development model to strengthen its status as a world financial hub.
The key strategies were laid out in a resolution adopted at the third plenary session of the 20th Central Committee of the Communist Party of China in July.
The resolution pledged to comprehensively deepen reforms to advance Chinese modernization, while highlighting the need to elevate the Hong Kong Special Administrative Region’s position as an international financial, shipping and trade center.
Agnes Chan Sui-kuen, chairman of the Hong Kong General Chamber of Commerce, the oldest and largest business organization representing multinational companies in the city, said the central government has a vision for Hong Kong amid an evolving global political and economic environment underpinned by geopolitical conflicts, trade protectionism and supply chain disruptions.
Chan noted that Hong Kong, as an international city and vital hub, connects and integrates with the world, including not only traditional Western markets such as the United States, but also emerging markets like member states of the Association of Southeast Asian Nations and countries in the Middle East. –The Daily Mail-China Daily news exchange item
