Chief Executive John Lee Ka-chiu delivers a speech at the Phoenix Financial Forum 2022 for the Greater Bay Area at the Hong Kong Science Park on Wednesday. (EDMOND TANG / CHINA DAILY)
Hong Kong will continue to make important contributions to the development of the Guangdong-Hong Kong-Macao Greater Bay Area amid deepening cross-border financial integration, officials said at a forum on Wednesday.
“As a highly open and international city in the Greater Bay Area, Hong Kong is a global financial, shipping, trade and aviation hub with a worldwide reputation for professional services,” Hong Kong Chief Executive John Lee Ka-chiu said. “With the unique advantages brought by ‘one country, two systems’, Hong Kong is absolutely capable of playing a major role in the region’s development.”
As a highly open and international city in the Greater Bay Area, Hong Kong is a global financial, shipping, trade and aviation hub with a worldwide reputation for professional services.
John Lee Ka-chiu, Hong Kong Chief Executive
Lee made the remarks at the Phoenix Financial Forum for the Greater Bay Area, which had the theme “New Prospects amid Changes”. The event was held at the Hong Kong Science Park.
READ MORE: Business awards help promote GBA youth entrepreneurship
He said the Greater Bay Area’s development has been accorded key strategic planning in the national growth blueprint, with great significance in the country’s implementation of innovation-driven development and commitment to reform and opening-up. “At the same time, it has also brought enormous opportunities and growth drivers,” he said.
In his opening speech, Lee also highlighted the special administrative region’s five advantages in the deepening financial cooperation with the Chinese mainland to promote the Greater Bay Area’s advancement.
These include the ever-strengthening cross-border Connect program; Hong Kong’s status as the world’s leading offshore renminbi business hub; a top-notch investment and financing platform; a wealth and risk management center; and a would-be green finance hub, Lee said.
Shenzhen Mayor Qin Weizhong said in a video address that Shenzhen and Hong Kong will jointly forge a comprehensive cross-border financial system by leveraging the Greater Bay Area’s advantage in connecting the world, and the special administrative region’s role as a “super-connector”.
To this end, the two cities will build important platforms such as an insurance service center and bond platform, as well as develop financial technology, green finance and cross-border finance, Qin said.
Dai Xianglong, former governor of the People’s Bank of China, the country’s central bank, said consolidating and enhancing Hong Kong’s status as an international financial center is of great significance to the economic and social development of the Greater Bay Area, the country, Asia, and the world.
Hong Kong will also become the beneficiary of the economic growth of the Chinese mainland and the Greater Bay Area, the expanding Connect program, and the internationalization of the yuan, which has been accelerated, he added.
Also at Wednesday’s forum, Hong Kong Deputy Financial Secretary Michael Wong Wai-lun said in his keynote speech that Hong Kong’s innovation and technology industry will be a new economic growth point, driven by the SAR government’s HK$15 billion ($1.91 billion) investment in the sector.
ALSO READ: Survey: HK workers in GBA happy with living conditions
Hong Kong can give full play to the resources and advantages of Shenzhen and other mainland cities in the Greater Bay Area, and promote the region as an international innovation and technology center, Wong said.
Praising the central government’s support that is leading Hong Kong and the Greater Bay Area to a promising future, Wong said the SAR will take the initiative to align with the nation’s important development strategies, and make contributions to the region and the whole country.
evanliu@chinadailyhk.com