The ICC Working Committee for Liaison with Hong Kong, Macao, Taiwan and Overseas Chinese Held a Hong Kong Symposium

On August 19, 2022, the ICC Working Committee for Liaison with Hong Kong, Macao, Taiwan and Overseas Chinese held a Hong Kong Symposium in Office Building 2 of Beijing International Club, at which issues such as incorporating Hong Kong into China’s overall development plan and consolidating and improving Hong Kong’s status as an international financial center were discussed.

The participants believed that Hong Kong, backed by the motherland and open to the world, has favorable development conditions and unique competitive advantages. Taking advantage of reform and opening up, Hong Kong has made contributions to China's higher level of opening up to the outside world, and promoted its economic transformation and rapid development of its financial services industry. Since its return to the motherland, Hong Kong, with the strong support of the motherland, has achieved a stable development of financial industry and become the world's leading international financial center. Hong Kong should try to sharpen its competitiveness and consolidate its status as an international financial center under the changing international situation and increasingly fierce competition.

In March 2022, as listed in the Global Financial Center Index (GFCI), Hong Kong ranked No. 1 in Asia, and No.3 in the world, only second to New York and London and . The National 14th Five-Year Plan has brought new major development opportunities to Hong Kong, including consolidating and upgrading the status as an international financial, shipping and trade center, accelerating construction of an international innovation technology center and a Sino-foreign cultural and art exchange center, making forward-looking arrangements for Hong Kong's future development, supporting Hong Kong to consolidate and enhance its competitive advantages, and helping Hong Kong to better integrate into China’s overall development plan.

At the symposium, such issues as the current international financial situation and the global regulatory environment of the securities market, the economic development of Hong Kong, the mechanism of interconnection between Hong Kong and Mainland securities markets, and the prospects of the Guangdong-Hong Kong-Macao Greater Bay Area were discussed. In addition to the leaders of relevant government departments and relevant experts, ICC Executive Secretary General Cheng Yu attended the symposium.