Chen Yiting stated that there is a change in the trend of international investors and is considering how to increase exposure to China | Asian Financial Forum

The CEO of Hong Kong Exchanges and Clearing (388), Charles Li, stated during the discussion session "Capital Hub: Shaping the Future Global Market" at the Asian Financial Forum that there is a clear shift in the trend of international investors, moving from whether China can be invested in to how to increase exposure to China, "which needs to be raised from a low weight to a weight in line with the market," believing this is a form of progress. She continued to point out that geopolitical fluctuations are bringing more uncertainty, and international investors need to diversify asset classes for allocation. Hong Kong not only needs to provide stock products but also needs to expand into other areas, indicating that there is still much work to be done in Hong Kong. Technological Barriers Are Not the Biggest Challenge Regarding the future development of Hong Kong Exchanges and Clearing, Li pointed out that the competition for modern exchanges is no longer just traditional exchanges; emerging digital platform exchanges are also on the rise, and Hong Kong Exchanges must develop into a platform with greater breadth and depth. She stated that currently, stablecoins, 24-hour trading, and tokenization are the three most discussed topics. Her understanding is that investors are concerned about how exchanges will improve on a technical operational level to provide more clarity and speed in execution and trading efficiency. In the future, Hong Kong Exchanges will continue to invest in technology to maintain its leading advantage. She also mentioned that technological barriers are not the biggest challenge; the greatest limitation is "whether the market is willing to follow the development." For example, when Hong Kong Exchanges launched the "Typhoon Trading" measures, it encountered resistance such as banks being unable to settle during typhoons. However, after the measures were implemented, trading occurred for the first time under Typhoon Signal No. 8, with half-day transactions reaching HKD 85 billion, which means that without the "Typhoon Trading" measures, this transaction would not have been possible. She concluded that the pace of reform is very fast, and the strong performance of Hong Kong stocks and the IPO market last year will give Hong Kong Exchanges more confidence to move forward. Chan Ho-lam: Hong Kong Must Become the Bridge Connecting East and West The Deputy Secretary for Financial Services and the Treasury, Chan Ho-lam, pointed out in the same discussion that Hong Kong's advantages include priority access to the vast mainland market, free capital flow, and tax incentives. Therefore, if Hong Kong wants to become a major hub connecting the globe, it must become a super bridge connecting East and West, which includes adhering to industry standards and gaining the trust of investors and financial institutions. Only by gaining this trust can Hong Kong effectively fulfill its mission of connecting the mainland with other parts of the world. Chan Ho-lam also stated that Hong Kong needs to adapt to the latest market developments and assist issuers in seizing opportunities brought by technological advancements. Z/Yen Group CEO: Funds Seek Safe Havens Additionally, Mike Wardle, CEO of Z/Yen Group, pointed out that the four major financial centers—New York, London, Hong Kong, and Singapore—perform outstandingly across dimensions such as business environment, human capital, infrastructure, and reputation indicators, with all indicators remaining strong. However, the differentiation of global financial centers is very important, as it highlights the ability to consolidate their competitiveness. He believes that the key to differentiation is how financial centers can simultaneously support domestic real economies and international trade development while establishing effective connections. Furthermore, each financial center can deepen its development in specialized fields where it excels and persist in this pursuit to stand out He continued to point out that under geopolitical risks, global capital is seeking more safe havens, requiring secure environments or well-regulated systems that allow for easy entry and exit of funds; and high-value investment projects and instruments. Hong Kong's long-term advantages of safety and stability are expected to benefit from this capital shift. Standard Chartered's Zhang Xiaolei: RMB Internationalization Becomes a Hot Topic Zhang Xiaolei, Global President of Banking and Securities at Standard Chartered Bank and President of Standard Chartered Bank's Corporate and Investment Banking for Greater China and North Asia, also stated that RMB internationalization is becoming a very hot topic this year and beyond. This time, RMB internationalization will be different from the past, as the latest "14th Five-Year Plan" clearly emphasizes the importance of promoting RMB internationalization for the first time. Zhang also mentioned that the market focus is on geopolitical upheavals and evolving situations, as well as supply chain management issues. These factors have led investors to rethink their target investment markets, with expectations for safety, certainty of returns, and a stable exchange rate framework being what investors desire. She further noted that financing, investment, and infrastructure development are laying the foundation for mainland China and Hong Kong to become ideal investment destinations. Related articles: Yip Wai-yee states that innovation and geopolitics are two major forces reshaping the capital world | Asian Financial Forum