John Lee: Hong Kong's Global Financial Leadership Role Is Indispensable; IPO Fundraising of About US$50 Billion in First Nine Months Ranks Second Worldwide

John Lee Ka-chiu, Chief Executive of the Hong Kong Special Administrative Region, said in his address at the Global Financial Leaders' Investment Summit that this year's summit brought together about 280 global financial leaders, including about 120 group chairmen and chief executives, demonstrating that despite profound changes in the global landscape, Hong Kong remains indispensable to global financial leadership. John Lee Ka-chiu noted that the theme of this year's summit is "Thinking Afresh, Breaking New Ground." He said that long-held market assumptions are being tested, strategies that once worked can no longer guarantee success, global financial rules are being rewritten, and artificial intelligence is fundamentally transforming the competitive landscape of industries and economies. He mentioned that the government earlier released Hong Kong's first five-year plan, setting a clear direction for consolidating Hong Kong's position as an international financial center, a global offshore RMB business hub, an international asset and wealth management center, and an international risk management center, providing certainty to the market. John Lee Ka-chiu said that while formulating a strategic blueprint for Hong Kong's development, the government is ensuring that its value proposition remains unchanged, namely Hong Kong's competitive advantages under "one country, two systems": the vitality of the common law system, the free flow of capital and information, a zero-tariff free market, a simple and low-tax taxation system, and the advantage of connecting the vast mainland market with the world. Finance will continue to be Hong Kong's strength. In the first nine months of this year, Hong Kong's initial public offerings raised about US$50 billion, ranking second worldwide, and Hong Kong remains a leading global offshore RMB business hub. John Lee Ka-chiu said that just as the global financial landscape is being reshaped, investors' demand for certainty, clarity and confidence remains unchanged, and Hong Kong can meet all of these needs. He said Hong Kong is shining on the stage with renewed ambition.