HK promoted as green finance center in Guangzhou
Invest Hong Kong (InvestHK) co-hosted a financial forum as part of the SmartHK Promoting High Quality Development‧Hong Kong Forum, which kicked off in Guangzhou today (May 24), updating potential investors from the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) cities about the latest high-end and high value-added financial services in Hong Kong and encouraging them to leverage Hong Kong's business advantages to go global.
The forum, entitled Hong Kong - Unparalleled Opportunities to Expand Your Global Business - Cross-border Asset Management and Green Finance Forum, was co-hosted by InvestHK and the Hong Kong Trade Development Council (HKTDC) with support from the Hong Kong Monetary Authority (HKMA). It began with welcome remarks by the Associate Director-General of Investment Promotion at InvestHK, Dr Jimmy Chiang, and the Regional Director of South China of the HKTDC, Mr Peter Wong.
Dr Chiang said, "Hong Kong, as a top international financial and wealth management centre, has a robust financial system, a diversified and efficient capital market, a simple and competitive tax system, a friendly business environment and a sound legal system. It provides unique advantages of free flow of information and capital, as well as a deep pool of professional services talent conducive to the operation and development of asset and wealth management, family offices and green finance. The National 14th Five-Year Plan also clearly supports Hong Kong in enhancing its status as an international financial centre, including strengthening the city's functions as a global offshore Renminbi business hub, an international asset management centre and a risk management centre. It also mentions the deepening and widening of mutual access between the financial markets of Hong Kong and the Mainland, in order to lift the quality of the GBA development."
He added, "The Outline Development Plan for the Guangdong-Hong Kong-Macao Greater Bay Area supports Hong Kong to develop into a green finance centre in the GBA. We encourage companies in the GBA to make use of Hong Kong's fundraising platform and financial and professional services for green investment, financing and certification to meet the financing needs of green companies and projects. Hong Kong will continue to strengthen exchanges and co-operation with the GBA, and to promote the high-quality development of green and sustainable finance in the GBA."
Speakers at the forum introduced Hong Kong's advantages on cross-border wealth management and family offices, as well as Hong Kong's opportunities on environmental, social and governance (ESG), green and sustainable finance development at two thematic panel sessions, both followed by an interactive session hosted by InvestHK's Head of Mainland and GBA Business Development, Ms Loretta Lee.
At the first panel session, the Global Head, Family Office of InvestHK, Mr Jason Fong; the Head of Commercial Banking, Wealth and Sales Management, Hang Seng Bank Limited, Ms Phoebe Cheung; the Managing Director, Greater Bay Area Homeland Investments Limited, Mr Yin Cong; and Council member and member of the Greater China Legal Affairs Committee, the Law Society of Hong Kong, Ms Heidi Chui, talked about Hong Kong's family office development, asset and wealth management trends and services in Hong Kong, and how Mainland enterprises leverage Hong Kong's advantages to promote high-quality development, and the role and function of a lawyer in setting up a family office in Hong Kong.
At the second panel session, the Executive Director (External) of the HKMA, Mr Kenneth Hui; the Country Head of Sustainable Finance and Commodities, Commercial Banking, HSBC (China) Limited, Mr Daniel Zhang; and Vice President of the Hong Kong Green Finance Association and Executive Director and General Manager of CECEP Hong Kong Investment Co Ltd, Mr Yang Wei, talked about Hong Kong's latest developments and opportunities in green and sustainable finance; how the GBA can contribute to the Mainland's low-carbon economy plus other green financing opportunities in Hong Kong, the GBA and the Belt and Road Initiative. The Head of ESG Research, Harvest Fund Management, Ms Katherine Han, updated the audience on how ESG-focused investors help corporate clients to drive corporate sustainable development and high-quality growth.