Hong Kong’s financial future tied to Greater Bay Area growth, rising mainland China incomes, panel says
- The passage of the national security law prompted some wealthy clients to move assets out of Hong Kong, asset manager says
- Many firms and investors are betting on more mainland wealth flowing to the city in the future, panellists say
The potential for future growth in the Greater Bay Area (GBA) and rising incomes in mainland China will help Hong Kong maintain its role as an attractive destination for international investors and capital despite the adoption of a controversial national security law for the city, according to a panel of financial and academic experts.
International and local Hong Kong firms want to tap that growing pot of wealth in China, which is expected to get “bigger” as the GBA develops and other programmes further open up the mainland market, according to Alvin Ma, managing director of Axiom Investment Management.
“Hong Kong has been the financial hub for so many years,” Ma said Thursday. “Why should it be changed?”
Ma was a speaker in the latest instalment of a series of webinars on the national security law organised by the Post – “SCMP Conversations: Can Hong Kong maintain its role as a financial hub?”.
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Over a third of American businesses are thinking about leaving Hong Kong, AmCham survey finds
Beijing adopted the national security law for Hong Kong in June, following months of street protests in the city.