Li Jiachao: More than 1,400 Hong Kong fintech companies rank second in the world, and the Hong Kong Stock Exchange continues to lead the world in terms of IPOs raised

The Zhitong Finance App learned that Hong Kong Chief Executive Li Jiachao said in his speech at the Fintech Week event that the “15th Five-Year Plan” indicates a clear direction for Hong Kong's cooperation, helps to leverage its advantages, better integrate and serve the country's overall development, consolidate Hong Kong's position as an international financial, shipping and trade center and international aviation hub, and accelerate Hong Kong's development into an international innovation and technology center and talent hub. He pointed out that Hong Kong's first five-year plan describes Hong Kong's prospects for enterprises, investors and individuals, helping everyone to seize Hong Kong's ambitious prospects and the rich opportunities brought by national development.

Li Jiachao continued to point out that Hong Kong continues to be ranked No. 1 in terms of global economic freedom. It is the top international financial center in Asia. Currently, it has more than 1,400 fintech companies, and has risen to second place in the global ranking. Furthermore, the Hong Kong Stock Exchange (00388) continues to maintain its leading position in the world in terms of IPO capital raised, reflecting investor confidence, and will continue to invest in Hong Kong.

On the other hand, Hong Kong has now become the world's largest cross-border wealth management center. In terms of asset and wealth management, fund inflows surged by about 200% last year, growing for the 3rd year in a row. Meanwhile, in the first nine months of this year, the Investment Promotion Department has assisted about 550 overseas and mainland enterprises to set up or expand their business in Hong Kong, an increase of 14% over the previous year, bringing in foreign direct investment of about 9 billion US dollars, and creating about 11,000 jobs within the first year of their operation or expansion.

Li Jiachao also mentioned that the northern metropolitan area itself will become a new twin engine for Hong Kong's “Southern Finance and North Science and Innovation.” The North develops innovative technology and is connected to the technologically strong Shenzhen and other parts of the Greater Bay Area. The northern metropolitan area accounts for about one-third of Hong Kong's land area, and will eventually accommodate about 2.5 million people and provide more than 500,000 new jobs. In addition, the three university towns will integrate education, technology, industry, talent and urban development to create an innovative “drive-thru”, connecting talent and research to commercialization and industry, and ultimately to capital and global markets.

Meanwhile, as part of the Hong Kong Park in the Shenzhen-Hong Kong Science and Technology Innovation Cooperation Zone, in-depth cooperation is being carried out with Shenzhen to plan and build a world-class innovation and technology hub, which will promote the cross-border flow of personnel, materials, capital, data, etc., and drive innovation. Furthermore, Hong Kong will accelerate the commercialization of R&D results, providing industrial screening, prototyping, trial production and mass production.

With its unique advantages under the “one country, two systems” principle, it has strong intellectual property protection and the international standards required for global commerce. This principle ensures Hong Kong's international orientation and deep integration with the mainland, providing enterprises with a clear channel from research and commercialization to large-scale expansion. The goal is to ensure that companies have the capacity, capital and networks to grow locally into mainland and global markets.

Li Jiachao said that Hong Kong plays a key role in building the Greater Bay Area into a world-leading innovation and technology hub, and will establish an international cooperation network to develop the innovation and technology industry chain in the Greater Bay Area, maintain regional ties with the mainland, and expand international cooperation. Huge and well-connected connectivity is driving the international expansion of global enterprises. He also mentioned that during his official visit to ASEAN, the Middle East and Central Asia, he personally experienced the growing interest in Hong Kong as a trustworthy business partner, international financial center and cooperation platform.

He pointed out that although the global economy is facing widespread uncertainty, he is confident that Hong Kong's future will be a common future in many fields such as commerce, finance, and technology. He also said that if we believe that technology will define the future, that Asia will continue to drive global economic growth, and that China is transforming, we must believe in Hong Kong's key position in driving all of this to happen, because Hong Kong can access global capital while staying close to the world's most diverse innovation and growth engine.