Hong Kong, after several crises in the past decades, is predicted to be able to recover in the economic aspect. As good as it seems, it would take a longer time since it needs to adjust after three years of Covid restrictions that minimize the required talent to move the economy wheel.
After the mask lifting mandate that has been declared last week, the government is pushing the campaign to attract financiers, professionals and business in a bid to restore the city’s reputation as a international finance hub in Asia, while it is also stated that Hong Kong has it owns advantages such as geographic locations and its connectivity to mainland China, that will support its role as financial hub
The last 3 decades, Hong Kong was able to rise from several successive crises that’s been witnessed by several professionals, which increase the belief that Hong Kong will once more thrive against, even after the crises caused by Covid-19. Alvin Ho as the president of the CFA Society of Hong Kong mentioned how that the city is second after mainland China in terms of the amount of private equity center in Asia, approximately around US$190 billion of capital under management as of June 2022
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In 2023, Hong Kong was ranked as the largest hedge fund in Asia, and the largest financial center cross-border in Asia as per 2021. Chinese firms or companies that are planning to expand are also focusing their attention in Asia, with Hong Kong’s own advantages it is possible to maintain its status as an international finance center.
Currently, with Guangdong-Hong Kong-Macau Greater Bay Area in development, additional need for private investment, and it will provide an opportunity for the huge domestic market increase.
source: SCMP
