Hong Kong Financial Services Council: Hong Kong is developing into a multi-polar capital hub connecting major growth corridors in Asia

The Zhitong Finance App learned that the Hong Kong Financial Services Development Council (HKFDC) published two reports in the “Promoting Regional Connectivity” series during the “Belt and Road Summit” to discuss Hong Kong's pivotal role in capital flows in the Middle East and North Africa, as well as ASEAN and Central Asia, and explain the opportunities for Hong Kong to play a two-way intermediary function.

The report points out that it can guide institutional capital from the Middle East and North Africa, with about 6 trillion US dollars of sovereign wealth funds as the core, to invest in Asian growth sectors, while helping mainland enterprises explore the international market. Facilitate mainland China and global capital to meet local large-scale investment and financing needs, covering areas such as capital raising, infrastructure construction, and resource value chains.

The report also suggests diverse opportunities that Hong Kong can explore, including connecting two-way capital, deepening offshore RMB business, investing in the real economy, strengthening Islamic finance, and building a treasury center for multinational enterprises.

“Hong Kong is growing from a traditional gateway between mainland China and the world to a multi-polar capital hub connecting Asia's major growth corridors,” said Hong Pi-zheng, Chairman of the Financial Services Council. As capital from the Middle East and North Africa actively lays out in Asia, and financing needs in ASEAN and Central Asia continue to grow, Hong Kong has the unique advantage of connecting capital and opportunities. With its ability to pool capital, connect markets and facilitate cross-border capital flows, Hong Kong has further strengthened its position as a leading international financial center.”