Hong Kong to power growth by boosting strengths, gold trading: John Lee
City leader also says Hong Kong will enhance global ties to bring in more investment
Hong Kong will sharpen existing competitive edges and explore new growth areas through developing an international gold trading centre and strengthening global ties to bring in more capital, the city’s leader has said.
Chief Executive John Lee Ka-chiu also told the Asian Financial Forum on Monday that the city would continue to be the global hub for offshore yuan business and settlements, financing and asset management, citing the 1.1 trillion yuan (US$150 billion) worth of deposits in the currency in Hong Kong.
“The stability in Hong Kong amid rapid changes in geopolitics around the world will provide a world of investors, a secure environment for gold storage as well as other forms of wealth management,” he said.
“The salient point is that finance and business will be central to Hong Kong’s next growth engine, creating far-reaching opportunities with you in Hong Kong, throughout China, the Asian region and around the world.”
Earlier, Pan Gongsheng, governor of the People’s Bank of China, announced at the same forum a series of measures to support Hong Kong’s status as an international financial centre, including significantly increasing the proportion of its foreign exchange reserves allocated to assets in the city.
The forum, organised by the Trade Development Council, drew about 3,600 business leaders, policymakers and specialists from more than 50 countries and regions to discuss ways for empowering the next growth engines of the world.
Lee told attendees that the strong support from central authorities and Hong Kong’s global connectivity and strategic position had made the city “the world’s foremost superconnector and super value-adder”.
