Hong Kong tycoon Victor Li says city must do whatever it takes to maintain financial hub status
- ‘There are only a few [international financial centres], and Hong Kong is one of them. It is hard-won. We must not lose this place,’ CK Hutchison and CK Asset chairman says
- CK Hutchison posted a 9 per cent decline in underlying profit to HK$23.5 billion (US$3 billion) last year, while CK Asset’s profit slipped 11.6 per cent to HK$17.34 billion
Hong Kong must maintain its hard-fought status as an international financial centre as the city faces headwinds from a global economic turmoil, said Victor Li Tzar-kuoi, chairman of CK Hutchison and CK Asset Holdings, which announced full-year results on Thursday.
“In recent years, Hong Kong’s economy has experienced multiple stress tests, the 2019 demonstrations, then Covid, and now a slowing economy,” Victor Li said at a post-earnings press conference.
“How to respond depends on the Hong Kong government. There are only a few [international financial centres], and Hong Kong has been one of them for many years. It is hard-won. We must not lose this place.”
CK Hutchison, with businesses spanning ports and infrastructure to telecommunications and supermarkets, announced an underlying profit of HK$23.5 billion (US$3 billion), a decline of 9 per cent from the HK$25.74 billion in 2022.
