Main Summit kicks off at 5th HKMA Global Financial Leaders’ Investment

Main Summit kicks off at 5^th HKMA Global Financial Leaders’ Investment Summit.

Among those in attendance include Hong Kong Chief Executive John Lee, Financial Secretary Paul Chan as well as Chief Executive of HKMA Eddie Yue.

Vice Premier He Lifeng shared his opening keynote via video call, stating the Central Government is confident with Hong Kong’s first Five Year Plan and hopes to accelerate the infrastructure in the Northern Metropolis.

“The pace of financial legal system development is accelerating. The Financial Law has been submitted to the NPC Standing Committee for review. We have also formulated the 15th Five-Year Plan for building a financial powerhouse. We have made comprehensive plans for advancing high-quality financial development over the next five years. Guiding China's financial sector along the path of financial development with Chinese characteristics. Steadily advancing toward the grand goal of becoming a financial powerhouse. Ladies, gentlemen, friends! Hong Kong's development has always moved in step with the nation. We must build and develop Hong Kong well. It has always been a key strategic consideration of the central government. The 15th Five-Year Plan prioritizes Hong Kong's long-term prosperity and stability,” He says.

Mainland financial regulators including Zou Lan, Deputy Governor, The People's Bank of China, Xiao Yuanqi, Vice Minister, National Financial Regulatory Administration, Li Chao, Vice Chairman, China Securities Regulatory Commission, and Li Hongyan, Deputy Administrator, State Administration of Foreign Exchange offered their perspectives during the morning session.

Chief Executive Lee also made a speech, the development of the gold trading ecosystem in the city.

“Last year, assets under management surged 20% year on year to a record, breaking 5.4 trillion US Dollars, while net fund inflows nearly tripled. To two hundred and seventy billion US dollars. In June, we introduced legislation to enhance preferential tax arrangements for funds, single family offices, and carried interest. I invite small fund managers and family offices to set up here and deploy global capital through Hong Kong. We are also pursuing new high-growth frontiers. That includes commodity trading, starting with gold. We're building a gold trading ecosystem that connects with global markets and offers price discovery, clearing, and physical delivery. Our gold central clearing and settlement system which entered trial operation in July to strong market feedback, is scheduled to launch in Q1 next year. With delivery connect linking to the Shanghai Gold Exchange and alignment with the London Bullion Market Association,” Lee says.