Global Financial Leaders Unite in Hong Kong: Unveiling the Next Growth Engines

In a major gathering of financial minds, approximately 3,600 policymakers, business leaders, investors, and scholars from across the globe convened for the 18th Asian Financial Forum (AFF) held on January 13-14, 2025, in Hong Kong. Dubbed "Powering the Next Growth Engine," this event marks the region's first significant financial gathering of the year, showcasing high-level discussions, deal-making, and invaluable networking opportunities with insights from around 130 distinguished speakers.

Hong Kong’s Chief Executive, John Lee, emphasized the robust status of Hong Kong as a leading international financial hub in his opening comments. He remarked, "Thanks to 'one country, two systems,' we benefit from the strong support of mainland China, while simultaneously forging expansive global connections. This positions Hong Kong as the world’s premier 'super connector' and 'super value-adder'." He further highlighted the city’s proficient legal framework, which aligns seamlessly with that of other major global financial centers, and the bilingual expertise of its professionals in both Chinese and English.

Pan Gongsheng, the Governor of the People's Bank of China, reiterated the commitment of the Central Government in bolstering Hong Kong's financial stature. He outlined four pivotal trajectories to achieve this: enhancing Hong Kong’s capital market, expanding its capabilities as an offshore Renminbi hub, strengthening its role in international asset and wealth management, and ensuring the financial stability and security of the region.

During the Keynote Luncheon, Financial Secretary Paul Chan recognized Hong Kong’s competitive advantages, noting a full spectrum of funding options to meet the diverse needs of governments and enterprises at different developmental stages. He highlighted innovative financial strategies such as the securitization of infrastructure loans and catastrophe bonds, poised to enhance investment opportunities further.

Additionally, Professor Justin Yifu Lin, former Chief Economist and Senior Vice President of the World Bank, delivered a compelling keynote that explored the shifting global economic landscape, China's evolving role, and the broader implications for international markets.

A notable highlight of this year’s forum was the introduction of the Gulf Cooperation Council (GCC) Chapter on January 14. This new initiative was celebrated as a major milestone for financial services collaboration between Hong Kong and GCC nations. Christopher Hui, Secretary for Financial Services and the Treasury, pointed to the tremendous potential in green finance, the securities market, Islamic finance, and wealth management for bilateral cooperation. The commitment from Jasem Mohamed Albudaiwi, Secretary General of the Cooperation Council for the Arab States of the Gulf, to foster dialogue and cooperation aimed at mutual prosperity, reinforced the significance of this collaboration.

In summary, the Asian Financial Forum 2025 has set the stage for transformative dialogues on economic innovation and cooperation that promise to unveil the next generation of growth engines in the international financial landscape. As Hong Kong continues to leverage its strategic position and robust connections, the world will be watching closely to see how these initiatives translate into tangible benefits for the global economy.