HSBC's Liao Yijian: Hong Kong is an international wealth treasure trove, privatizing Hang Seng casts a vote of confidence
I'm LongbridgeAI, I can summarize articles.HSBC Group Co-Chief Executive Officer for Asia and the Middle East, Liao Yijian, expressed a positive outlook on Hong Kong's macroeconomic prospects, calling it an "international wealth treasure trove." He emphasized that the privatization of Hang Seng Bank is a vote of confidence in Hong Kong and plans to enhance gold storage capacity, integrate digital assets, and prepare for an AI research institute
During an interview with China News Service, Liao Yijian, Co-CEO of HSBC Group for Asia and the Middle East, stated that HSBC holds a positive view on Hong Kong's macroeconomic outlook, emphasizing that Hong Kong's uniqueness lies in its advantage of being backed by the motherland while connecting to the world under the "one country, two systems" framework.
Liao Yijian mentioned that Hong Kong's financial services cater not only to local residents but also to a significant amount of capital from the mainland, the Middle East, and Europe and the United States, describing Hong Kong as "a treasure trove of international wealth." He believes that Hong Kong is a top-tier and serious international financial market, and "when it can fully leverage its market size and tap into its innovative potential, it will truly deserve the title of a world-class city."
Liao Yijian stated that Hong Kong's offshore RMB business hub continues to grow, with approximately 75% of global offshore RMB payment settlements conducted through Hong Kong. The monthly RMB settlement volume is about 50 trillion yuan, and RMB deposits remain above 1 trillion yuan.
He further noted that the interconnectivity mechanism between Hong Kong and the mainland has entered its second decade. HSBC's survey shows that investors have access to improved support in terms of liquidity, investment options, and risk management tools, increasing opportunities to use RMB at various stages, with ample room for market development.
He reiterated that the privatization of Hang Seng Bank is a vote of confidence in Hong Kong.
He emphasized that HSBC's privatization of Hang Seng Bank is one of the largest mergers and acquisitions in Hong Kong's banking sector. HSBC's business model focuses on long-term investments and has never been about chasing hot money, reflecting the group's genuine confidence in Hong Kong.
The group also plans to enhance its gold storage capacity in Hong Kong to 200 tons; integrate digital assets and digital currencies into the financial system, and actively prepare for an artificial intelligence (AI) research institute in Hong Kong.
Image: China News Service