Hong Kong’s financial sector is anticipating substantial growth, fueled by advancements in artificial intelligence (AI), China’s ongoing economic reforms, and the increasing wealth within Asia. Benjamin Hung Pi-cheng, the chairman of the Financial Services Development Council (FSDC), shared these optimistic projections in a recent statement.
Hung emphasized that Hong Kong’s financial markets are well-positioned to support companies seeking capital, and the liberalization of China’s financial sector will further strengthen the city’s role as a vital link between the mainland and the global economy. Moreover, the burgeoning wealth of Asian business families presents a significant opportunity, with many expected to establish family offices in Hong Kong for investment and succession planning.
“Overall, Hong Kong has a lot of growth opportunities,” Hung stated during his first media briefing since assuming the FSDC chairmanship in January. “What we need to do is to tell the world more about the real picture of Hong Kong.”
Hung, who also serves as the international president of Standard Chartered, acknowledged that negative perceptions of Hong Kong persist overseas, often stemming from what he described as misleading media reports. These reports have suggested a decline in the city’s dynamism and freedoms. To counter these misrepresentations, the FSDC plans to conduct worldwide roadshows, aimed at presenting an accurate view of Hong Kong’s strengths and opportunities. The recent positive momentum in the market, which has improved significantly since China’s stimulus package in September and the breakthroughs in January, makes this an opportune time to promote the city.
“FSDC members will go on roadshows to tell the real story of Hong Kong,” Hung said.
