Security law boosts HK鈥檚 global financial position
Print Edition
One year after the introduction of the national security law in Hong Kong, the international financial hub has retained, if not enhanced, its global appeal with the restoration of a peaceful business environment.
Hong Kong remains a competitive and attractive financial center, said Nicolas Aguzin, chief executive of Hong Kong Exchanges and Clearing Limited.
鈥淚t is home to open, globalized and transparent markets, robust infrastructure, internationally-aligned regulatory regimes, the rule of law, the free flow of information and capital, and a deep pool of talent,鈥 said Aguzin, who joined HKEX in May after working in Hong Kong for nine years at JPMorgan. From investors to businesses, stakeholders are more optimistic since the national security law took effect on June 30, 2020.
A sequence of positive changes has taken shape. There was neither a capital flight nor an exodus of foreign firms 鈥 quite the opposite: major global financial institutions, including Goldman Sachs and Citigroup, have maintained or planned to increase their presence.
鈥淭he law has proved effective in restoring law and order and guaranteeing a stable and predictable environment, where investment is protected and companies feel more secure to operate,鈥 said Liang Haiming, a Hong Kong-based economist. Over HK$300 billion (US$38.6 billion) flowed into Hong Kong from July to October 2020, and there was also a capital net influx for the whole of 2020.
As one of the major bourses in the world, HKEX witnessed an over-50-percent year-on-year increase in IPO fundraising in 2020.
Assets under management were HK$35 trillion, up 21 percent from the year before.
The IMF recently reaffirmed Hong Kong鈥檚 status as an international financial center, citing its resilient financial system as well as its policies and regulatory frameworks. Hong Kong was also the third-largest recipient of foreign direct investment last year, according to the United Nations Conference on Trade and Development.
As a gateway to the mainland, Hong Kong has thrived on the rapid growth of the world鈥檚 second-largest economy.
Jim Thompson, chairman of logistics company Crown Worldwide Group remains a staunch believer in Hong Kong.
鈥淏usinesses like to operate in a stable environment, with a fair rule of law and a non-corrupt and safe operating atmosphere,鈥 Thompson said, welcoming the restoration of stability by the national security law.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
