TLDR: Hong Kong Remains an ‘Ideal Option’ for International Investment, Says Finance Chief

Hong Kong’s finance chief, Paul Chan Mo-po, has stated that despite pressures on the city’s capital markets, Hong Kong remains one of the “most ideal options” for international investment. This comes as the city’s stock markets have experienced a four-year slump and the economy has faced wider economic difficulties. However, Chan believes that investment opportunities have become more attractive and that many funds are waiting for chances to invest. He points to the ongoing net inflow of funds into the city as evidence of its attractiveness.

Key Points

• Hong Kong remains an ‘ideal option’ for international investment, according to finance chief Paul Chan Mo-po.
• Despite pressures on the capital markets and a four-year slump in stock markets, investment opportunities have become more attractive.
• There has been an ongoing net inflow of funds into the city.
• Hong Kong may take an additional year or two to achieve a budget surplus.
• Efforts to diversify the economy and promote innovation and technology industries have been highlighted.

In the first 11 months of 2023, total deposits in Hong Kong reached HK$16 trillion (US$2.04 trillion), reflecting a year-on-year increase of 4.1%. Moreover, the city’s wealth management sector is expected to experience a 7.6% growth rate between 2022 and 2027, according to a report by the Boston Consulting Group. Chan also emphasized the city’s efforts to diversify its economy and promote innovation and technology industries, including artificial intelligence, data science, and biomedicine.

Chan will be attending the World Economic Forum’s annual meeting in Davos, Switzerland, where he plans to introduce and promote Hong Kong’s developments. The theme of this year’s meeting is “Rebuilding Trust,” and participants include public officials, business leaders, and civil society groups from around the world.