Global Investors Flock to Hong Kong Despite Outflow Concerns, Says Financial Secretary

In a compelling statement on Friday, Financial Secretary Paul Chan reassured the public that global investors retain their confidence in Hong Kong, countering recent speculation about capital flight from the city.

Addressing attendees at a wealth management forum, Chan emphasized Hong Kong's enduring reputation as a premier international financial hub. "Our city's fundamental strengths as a financial center remain rock solid. Recently, we were proud to see Hong Kong regain its position among the top three global financial centers, alongside New York and London," he stated.

Chan noted that despite occasional media reports regarding capital outflows, the facts tell a different story. Highlighting the resilience of Hong Kong's stock market, he revealed that it has raised approximately HK$70 billion through initial public offerings (IPOs), indicating robust investor interest and financial activity.

Moreover, the growth of asset and wealth management sectors in Hong Kong is noteworthy. Chan pointed out that numerous companies in this space are expanding their operations within the city, leading to increased office space rentals and the relocation of senior executives to Hong Kong. This influx further solidifies the financial stability and allure of the city for international investors.

As Hong Kong navigates various economic challenges, Chan's remarks serve as a powerful reminder that the city's reputation as a financial powerhouse continues to attract and maintain international capital. With ongoing innovations and improvements within its financial infrastructure, Hong Kong appears poised for a bright future, making it a key player on the global financial stage.