FSDC Survey: Global financial industry leaders have confidence in Hong Kong's status as an international financial centre

On January 20, the Hong Kong Financial Services Development Council (HKFDC) published a research report titled "OXFORD METRICA Survey Report 2021: Hong Kong: The World's Leading Financial Centre", which aims to gather the views of global financial industry leaders in developed markets on the current situation in Hong Kong, as well as the challenges and opportunities that Hong Kong may face in the future as an international financial centre.

FBSA Chairman Lee Said Yan said that despite the fierce competition in the global financial market, respondents remain confident in Hong Kong as Asia's leading international financial centre, thanks to its unique advantages, such as the rule of law, simple and low tax system, an independent judiciary, a well-functioning and highly liquid capital market, strict regulatory standards and its hub position as a connecting China. While challenges exist, opportunities coexist.

Rory Knight, chairman of Oxford Metrica, said the survey showed that financial institutions around the world believe that Hong Kong will have full support to continue to maintain its status as an international financial center if it can continue to nurture its vibrant culture and retain talent.

Based on the survey results, many respondents suggested that in order to consolidate Hong Kong's position as an international financial centre, Hong Kong should ensure that the standards of ESG reporting are in line with international standards to highlight its value as a regional ESG centre; establish a competitive position in the fintech sector by providing a favorable ecosystem; and build its unique role in the Greater Bay Area.

This article originated from the viewpoint real estate network