HONG KONG (Xinhua) – Hong Kong can be a “super- connector” between the Chinese mainland and the rest of the world, said Hong Kong’s Chief Executive Leung Chun-ying on Monday.
Leung said at the Asian Financial Forum (AFF) 2015 “The convertibility of the Hong Kong dollar as a separate currency in the country has given Hong Kong a core strength in realising its potential as a ‘super-connector’ in trade and in financial services as China launched one far-reaching reform after another.”
“This core strength has helped both Hong Kong and the country as a whole,” Leung said in his opening remarks.
Hong Kong enjoys the combined advantage of the “one country, two systems” policy, Leung added, “When you are in Hong Kong, you are in China, but you are not in just any other city in China, We have something special to offer that other Chinese cities don’t.”
Leung said Hong Kong’s “super-connector” role between the mainland and the rest of the world is clearly reflected in the launch of the Shanghai-Hong Kong Stock Connect in November last year.
“Thanks to Stock Connect, institutional and retail investors in Hong Kong, and from around the world, can invest directly in eligible mainland A-shares, all denominated in the Renminbi. It also consolidates Hong Kong’s position in the internationalisation of the Renminbi, while opening up opportunities for Mainland investors, who can now trade in Hong Kong stocks,” said Leung.
Hong Kong Trade Development Council Chairman Jack So said that Hong Kong raised $27.1 billion last year, become the world’s second largest IPO market.
“This not only reinforces our position as a global financial and legal services, our deep talent pool, and our world class financial infrastructure, all of which come together seamlessly to serve businesses from the mainland and across the world,” So added.
The two-day forum, which focused on the theme of “Asia: Sustainable Development in a World of Change,” will highlight different sections of speeches, dialogues and thematic workshops.
Paul Krugman, the Nobel price-winning economist, will talk about the global implications of the US ending its quantitative easing policies in the following day.
AFF 2015 also examines other important issues such as global economic outlook, China’s shifting economic realities, Asia’s positioning and ambitions, as well as the outlook and investment opportunities in healthcare.
Over 2,400 participants, including global leaders in government, finance and business are taking part in AFF 2015 to exchange insights and network and explore business opportunities.