Secretary for Financial Services & the Treasury Christopher Hui today proceeded to Oslo, Norway, after concluding a visit to the UK, where he showcased Hong Kong’s determination to expand international financial co-operation.
Addressing a lunch event hosted by the UK’s Hong Kong Association yesterday, Mr Hui said Hong Kong’s vibrant capital markets offer global investors, including those from the UK, a gateway and access to invest in Asia’s burgeoning tech sector.
He highlighted that the strengths of Hong Kong’s capital markets are supported by geopolitical developments and the Mainland’s technological advancements, and urged global investors to leverage the city’s deep market liquidity and robust regulatory framework.
Mr Hui also remarked that Hong Kong’s integration into the London Metal Exchange’s global warehouse network in January this year not only enhances Hong Kong’s commodities infrastructure but also creates significant opportunities for UK firms.
Riding on its proximity to Asia’s industrial markets, Hong Kong can partner with the UK to jointly tap growing demand for new-energy metals and support global industrial transformation and sustainable development, he added.
Mr Hui also held a roundtable meeting yesterday with members of TheCityUK, a body representing the UK’s financial and related professional services industries, and witnessed the signing of a memorandum of understanding (MOU) on establishing a partnership between it and the Financial Services Development Council (FSDC).
He was joined in doing so by TheCityUK’s Leadership Council Chair Bruce Carnegie-Brown.
The MOU was signed by FSDC Executive Director King Au and TheCityUK’s Managing Director of Public Affairs, Policy & Research John Godfrey.
Mr Hui said the MOU reflects a shared vision to harness the strengths of Hong Kong and the UK, creating opportunities that benefit both places and the global financial ecosystem.
Earlier in the day, Mr Hui held a bilateral meeting with City of London Lord Mayor Alderman Alastair King, and briefed him on developments in Hong Kong’s financial services sector.
Mr Hui also met PwC UK Chief Markets Officer Carl Sizer to discuss the role the auditing and accounting profession can play in helping Mainland enterprises go global.
On Monday morning, Mr Hui attended a briefing session hosted by British independent think-tank Asia House, and spoke to its members about the latest financial developments in Hong Kong and the Greater Bay Area at large.
He also responded to questions about Hong Kong’s financial outlook in a Q&A session moderated by Asia House Chief Executive Michael Lawrence.
His other engagements on Monday included a meeting with senior management from ICBC Standard Bank, and another with Economic Secretary to the UK Treasury Emma Reynolds and other financial officials.
He briefed the bank’s Chief Executive Officer Wang Wenbin and other senior executives about the international gold trading market and commodity trading ecosystem that Hong Kong is developing.
At the meeting with the UK officials, Mr Hui reaffirmed the financial partnership between the Hong Kong and London, as two leading international financial centres, and gave an update on the situation in Hong Kong’s capital markets.
In addition, Mr Hui paid a courtesy call on Minister of the Chinese Embassy in the UK Wang Qi.
