Hong Kong’s strength as an asset and wealth management hub stems from its role as the gateway to mainland China, according to panellists at a forum on Friday, citing the city’s deep connection to a vast pool of Chinese resources, capital flows and entrepreneurial innovation.
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“Most of the world’s wealth will originate from mainland China in this century, and Hong Kong will be a key beneficiary, thanks to its unique position as part of the Greater Bay Area and an offshore centre close to the heart of global wealth creation,” said Zhao Yang, managing director at investment bank China International Capital Corp.
He spoke at the forum on Next Generation Wealth, part of the South China Morning Post’s Redefining Hong Kong series, which was sponsored by insurance giant Prudential.
Beijing’s opening up policy brings “more innovative hi-tech companies to Hong Kong”, Zhang said. “More capital influx would lower funding and financial opportunities in Hong Kong, providing a very good macro environment for business.”
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