Chief Executive John Lee Ka-chiu delivers a speech during the Global Financial Leaders’ Investment Summit at Four Seasons Hotel in Hong Kong on Nov 2, 2022. (ANDY CHONG / CHINA DAILY)

The unique combination of the global advantage and the China advantage bestowed by “one country, two systems” cements Hong Kong’s status as one of the leading financial centers and the nation’s major international financial center.

Hong Kong Chief Executive John Lee Ka-chiu made the comments on Wednesday at the Global Financial Leaders’ Investment Summit, hosted by the Hong Kong Monetary Authority.

Hong Kong Chief Executive John Lee Ka-chiu made the comments on Wednesday at the Global Financial Leaders’ Investment Summit, hosted by the Hong Kong Monetary Authority

The summit welcomed over 200 international and regional leaders from around 120 global financial institutions, including banks, securities firms, asset managers, private equity and venture capital firms, hedge funds and insurers. More than 40 of them are represented by their group chairman or CEO.

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Under the theme of “Navigating Beyond Uncertainty,” participants shared experiences and exchanged ideas with a focus on three sets of challenges and opportunities facing the global financial community, including the uncertainties brought by rising interest rates and the risk of stagflation, as well as the implications of mega trends such as technology and sustainability on the future of finance.

“ ‘One country, two systems’ is the unwavering cornerstone of Hong Kong. It ensures matchless connectivity, and opportunity, with our country and with the world at large,” the chief executive said. “Hong Kong remains the only place in the world where the global advantage and the China advantage come together in a single city. The unique convergence makes Hong Kong an irreplaceable connection between the mainland and the rest of the world.”

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Lee added that as the center of gravity in the world shifts eastward, the mainland, along with fast-growing economies in the region, will be a major engine of global growth and offer abundant economic opportunities. “Hong Kong is perfectly positioned to reap the enormous benefits of this irreversible trend,” he said

Chief Executive John Lee Ka-chiu delivers a speech during the Global Financial Leaders’ Investment Summit at Four Seasons Hotel in Hong Kong on Nov 2, 2022. (ANDY CHONG / CHINA DAILY)

HKMA Chief Executive Eddie Yue Wai-man said the summit signals the resiliency of Hong Kong’s financial system, the vibrant ecosystem of the financial industry, and the “can-do” spirit of Hong Kong that will help push forward the sustainable development of the financial industry.

READ MORE: Chan: Upcoming global financial summit in HK to be a success

The three-day event began with a welcome dinner at M+ on Tuesday, followed by the Wednesday summit and a conversation session with global investors on Thursday.

Key takeaways from the Global Financial Leaders' Investment Summit


Chief Executive John Lee Ka-chiu: 

Hong Kong remains the only place in the world where the global advantage and the China advantage come together in a single city. 

This unique convergence makes Hong Kong the irreplaceable connection between the mainland and the rest of the world.



Fang Xinghai, vice-chairman of the China Securities Regulatory Commission:

Hong Kong can play a very important role in helping grow the Chinese economy. And so because of that, the CSRC is fully behind our central government’s policy of growing Hong Kong's financial market even more and making it an even stronger financial center.

President Xi Jinping restated at the end of the (20th CPC National) Congress that China’s opening-up can only be bigger and bigger going forward, and Hong Kong will play a very important role in the overall opening-up of China’s economy, as well as of course the Chinese financial sector.

James Gorman, chairman and CEO of Morgan Stanley:

There are many issues to deal with. This is a painful transition, but it’s not an unexpected one. I think we have to keep it in context. My gut is the central banks will, in aggregate, tame the inflation. It’s highly probable that we will get back to the 1 to 2 percent of inflation we enjoyed before the crisis, more like 4 percent in the next four years. And we’ll have to deal with that.

David Solomon, chairman and CEO of Goldman Sachs:

We are going through that rebalancing period. Period. I think there’s still a significant amount of uncertainty as we get into 2023, and we start to have a clear understanding of the trajectory of capital markets. I think we’re in the process of that journey, and my expectations are that equilibrium will come more into balance in the coming quarters.

Michael Chae, chief financial officer and managing director of Blackstone:

Parts of the economy are still running pretty strongly, though there’s clearly deceleration. We’re seeing the central-bank actions filtering into the real economy, but on a lag. We’re beginning to see the slowing of both inflation on the one hand and growth on the other.

Liu Jin, president of Bank of China:

Looking forward to the economic future of China, I think we’d better find answers from the just-concluded National Congress of the CPC because everybody knows that it has been made very clear to the world that the leadership of the Party is the featuring characteristic of the Chinese social system and is a major driving force of Chinese economic development.

We say in the Western context, “When in Rome, do as the Romans do.” I would like to suggest that “When in China, think as the Chinese do.”


Colm Kelleher, chairman of UBS Group:

I don’t think … we’ve had a capitulation trade. What we’ve had is people waiting to reallocate to get some certainty about direction.

There is a feeling that the central banks will get this (inflation) under control, and then there will be bright spots for investing.

There’s clearly been a big investment shift in terms of the way people are investing. And that was more of a “barbell strategy”. Now, alternatives are clearly becoming a very big sector for people to invest in. And we’re beginning to see significant demand for alternatives through our network.