Two key documents promoting the development of financial services in the GBA and mutual access to markets on both sides of the border have emerged in the past 18 months, and are key to understanding how Hong Kong’s role as a financial services hub will evolve. These are the “Financial Support Guideline for the Development of the Guangdong-Hong Kong-Macao Greater Bay Area,” released by the Central Government in May last year, and the Cross-boundary Wealth Management Connect, which was signed in February this year.
At a Chamber seminar on 9 September, a panel of experts discussed these developments and the opportunities for the financial services industry in the GBA. They also considered the prospects for Hong Kong to remain a regional financial hub, as well as Hong Kong’s role within the GBA more generally.
The speakers were: Chris Chan, Mainland China and Hong Kong Financial Services Deals leader at PwC Hong Kong; Anson Law, Market Outreach Division, External Department, Hong Kong Monetary Authority; Bo Zhang, Deputy Director of South China, Financial & Professional Services, Department for International Trade, British Consulate-General Guangzhou; Michael Cheng, Managing Director, Global Coverage, BOCI Asia; and Christophe Lee, Founder and CEO, Lotus Asset Management.