The country's 14th Five-Year Plan has stipulated the need to enhance Hong Kong's status as an international finance center. As HK is embracing steady recovery and industrial transformation after the epidemic subsides, lots of initiatives have been brought to the table for the city's financial sector to reach new highs.
In this latest edition of Connie Talk, we're glad to have Robert Lee Wai-wang, Member of Hong Kong’s Seventh-term Legislative Council, with us to touch on the trending issues in the financial realm.
Being a lawmaker from the financial services constituency, he also serves as the Chairman of Hong Kong Securities Association. Lee has earlier made a proposal to LegCo on diversifying the capital market and expanding the range of financial services in HK.
"I think for our industry, it's important to be more diverse and to open different lines of businesses. And in terms of the upgrading and transforming, for a lot of traditional businesses, they need to move more towards a digital transformation," he explained.
As the world's largest and most important offshore Renminbi hub, HK is dedicated to facilitating the internationalization of RMB. Lee pointed out that the HKD-RMB dual counter model has been launched, which is an important milestone in building a liquid and accessible RMB ecosystem, providing investors with more choices and companies with another channel to tap the HK offshore RMB pool.
Besides a financial center, he also mentioned that HK is well positioned to build a global family office hub with its unique strengths under "one country, two systems," spanning taxation, financial services, legal system and various preferential policies.
How can fintech further boost financial services in HK? How should HK further promote the internationalization of RMB? What should HK do to amplify its competitiveness to build a global family office hub? Watch the video now for more of Lee's insights.
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Connie Talk is hosted by Connie Leung, Executive Director and General Manager of Kylin Global Trust Limited. In each edition, politicians, business leaders, and professionals from different sectors will be invited to share their insights on heated topics. Please stay tuned for more to come!
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