‘The worst is driving us’: Hong Kong hosts top rated global bankers for finance summit | News Organization
Hong Kong
News Company
—
Hong Kong chief John Lee sought to drum up self-assurance in the city’s foreseeable future as a world economic hub on Wednesday, as he welcomed some of Wall Street’s prime executives to its major international function in years.
Talking at an investment summit that has captivated much more than 200 contributors from 20 nations, the city’s main government mentioned that it was “opening at the time again” for worldwide company just after far more than two and a 50 % years of arduous pandemic constraints.
As he addressed some of the executives in attendance, including Goldman Sachs
(GS) CEO David Solomon, Morgan Stanley
(MS) CEO James Gorman, UBS
(UBS) chairman Colm Kelleher, HSBC
(HSBC) CEO Noel Quinn and Standard Chartered
(SCBFF) CEO Monthly bill Winters, the governing administration leader was insistent in reaffirming his intention to preserve the previous British colony competitive for world-wide finance.
“We were, we are and we will continue being 1 of the world’s leading monetary centers,” Lee vowed. “You can take that to the financial institution.”
Lee also sought to reassure executives that Hong Kong would preserve a unique role to that of mainland China, declaring that central federal government officials had outlined their help for the town retaining its exceptional place as a gateway amongst East and West.
China’s most recent 5-12 months prepare involves goals to reinforce the city’s part as an worldwide trade, economical, transport and aviation heart, Lee mentioned. “The worst is guiding us.”
Solomon, Gorman and Kelleher, who took to the stage for a panel shortly right after Lee’s remarks, did not remark right on the city’s reopening. But Kelleher mentioned that “whilst we’re all incredibly pro-China,” the bank was “waiting for zero-Covid to open up in China and see what will materialize.”
In September, Hong Kong lifted quarantine necessities that experienced mostly isolated the city, choked economic activity, and fueled a historic brain drain. Mainland China, nevertheless, however has a mandate in put for most inbound travelers to self-isolate for at the very least seven times, below its stringent “zero-Covid coverage.”
That distinction was highlighted Wednesday as mainland Chinese officials — which includes People’s Financial institution of China Governor Yi Gang — tackled the conference in pre-recorded movie remarks, relatively than attending in human being.
Hong Kong’s economic climate is intensely reliant on monetary providers. In 2020, the sector contributed $76 billion — approximately 23% of its GDP, Lee explained.
In an interview with News Company, DBS Hong Kong CEO Sebastian Paredes identified as the present of support from the city’s leading brass “a tangible demonstration that Hong Kong is back again.”
“The people that have flown into Hong Kong — the global CEOs of coverage companies and personal fairness providers and banking companies and the relaxation — show that Hong Kong is a quite important intercontinental monetary middle,” he explained.
“We’ve been shut for much too extensive,” he added, noting that some restrictions continue to be, like controls on the border with mainland China. “But as we development, at minimum we are opening internationally,” reported Paredes. “We are hopeful.”
Hong Kong
News Company
—
Hong Kong chief John Lee sought to drum up self-assurance in the city’s foreseeable future as a world economic hub on Wednesday, as he welcomed some of Wall Street’s prime executives to its major international function in years.
Talking at an investment summit that has captivated much more than 200 contributors from 20 nations, the city’s main government mentioned that it was “opening at the time again” for worldwide company just after far more than two and a 50 % years of arduous pandemic constraints.
As he addressed some of the executives in attendance, including Goldman Sachs
(GS) CEO David Solomon, Morgan Stanley
(MS) CEO James Gorman, UBS
(UBS) chairman Colm Kelleher, HSBC
(HSBC) CEO Noel Quinn and Standard Chartered
(SCBFF) CEO Monthly bill Winters, the governing administration leader was insistent in reaffirming his intention to preserve the previous British colony competitive for world-wide finance.
“We were, we are and we will continue being 1 of the world’s leading monetary centers,” Lee vowed. “You can take that to the financial institution.”
Lee also sought to reassure executives that Hong Kong would preserve a unique role to that of mainland China, declaring that central federal government officials had outlined their help for the town retaining its exceptional place as a gateway amongst East and West.
China’s most recent 5-12 months prepare involves goals to reinforce the city’s part as an worldwide trade, economical, transport and aviation heart, Lee mentioned. “The worst is guiding us.”
Solomon, Gorman and Kelleher, who took to the stage for a panel shortly right after Lee’s remarks, did not remark right on the city’s reopening. But Kelleher mentioned that “whilst we’re all incredibly pro-China,” the bank was “waiting for zero-Covid to open up in China and see what will materialize.”
In September, Hong Kong lifted quarantine necessities that experienced mostly isolated the city, choked economic activity, and fueled a historic brain drain. Mainland China, nevertheless, however has a mandate in put for most inbound travelers to self-isolate for at the very least seven times, below its stringent “zero-Covid coverage.”
That distinction was highlighted Wednesday as mainland Chinese officials — which includes People’s Financial institution of China Governor Yi Gang — tackled the conference in pre-recorded movie remarks, relatively than attending in human being.
Hong Kong’s economic climate is intensely reliant on monetary providers. In 2020, the sector contributed $76 billion — approximately 23% of its GDP, Lee explained.
In an interview with News Company, DBS Hong Kong CEO Sebastian Paredes identified as the present of support from the city’s leading brass “a tangible demonstration that Hong Kong is back again.”
“The people that have flown into Hong Kong — the global CEOs of coverage companies and personal fairness providers and banking companies and the relaxation — show that Hong Kong is a quite important intercontinental monetary middle,” he explained.
“We’ve been shut for much too extensive,” he added, noting that some restrictions continue to be, like controls on the border with mainland China. “But as we development, at minimum we are opening internationally,” reported Paredes. “We are hopeful.”