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Surendra Rosha, co-chief executive of HSBC Asia Pacific, said in an interview that the HSBC Global Investment Summit to be held from April 8 to 10 will create a platform for participants to better understand the opportunities and issues in the financial market. Ahead of the summit, the bank co-hosted the Hong Kong Sevens with Cathay Pacific.
He added that the event would be “unprecedented” in scale, with more than 2,500 market professionals and 300 business executives expected to attend. Some 5,000 meetings are being scheduled for participants to explore ideas and issues in technology, sustainable development, climate change and the Asia-Middle East corridor.
“We are honored to host this event,” said Rosa. “This conference is really about providing a platform for people to connect with each other to understand what is happening around the world and in financial markets, [and] Also consider the new networks being created. “
Credit Suisse bids farewell to investors with Hong Kong-style street stalls
Credit Suisse bids farewell to investors with Hong Kong-style street stalls
This week’s summit will allow the UK-based bank to further enhance its leadership in Hong Kong, the world’s largest single market. In the most recent quarterly results, the city contributed $10.7 billion, or 35%, to group pre-tax profit, with deposits, assets, card spending, insurance and cash management contributing the most.
HSBC said Hong Kong’s connectivity to the world and mainland China had helped expand its trade market share over the past three years, while new banking customers in the city increased by 36%, helped by mainland tourists after the end of China’s zero-COVID policy .
Therefore, there is no better place to host the summit than Hong Kong, Rosha said. Rosha was appointed co-CEO together with David Liao in June 2021, succeeding Huang Dongxin and taking charge of the Asia-Pacific business.
Mainland customers will spend US$7.6 billion on Hong Kong insurance policies in 2023
Mainland customers will spend US$7.6 billion on Hong Kong insurance policies in 2023
He added that Hong Kong’s role as a connector and medium for the world to do business with China “remains very strong” and vice versa. Although China faces some headwinds, the economy still offers “huge opportunities.”
“There are some pretty incredible companies innovating at scale [in China] are taking the brand to other parts of the world,” he said, pointing to renewable energy and electric vehicles as key areas of opportunity.
“From small and medium-sized businesses to large companies that want to settle cross-border, the ability to do that through a set of CBDCs will allow for faster settlements, lower costs and greater transparency,” Rosha said. “So we’re excited about that. Very excited about this.”
Speakers at the HSBC Global Investment Summit also include Oscar-winning actress Michelle Yeoh, Macquarie Group Asia CEO Vivian Lam, Temasek Holdings CEO Dilhan Pillay-Sandrasegara and Kering Group President Greater China Cai Jinqing.
Financial Secretary Paul Chan Mo-po, Hong Kong Exchanges and Clearing Chairman Laura Chan and Securities and Futures Commission Chief Executive Ms Leung Fung-yee will also address investors at the summit.
The Investment Summit and the Hong Kong Sevens were followed by a series of high-profile events such as Wealth for Good and the One Planet Summit, which also attracted investors. Since 2019, social unrest, Covid-19 restrictions, national security laws and geopolitical tensions have weakened the city’s financial markets and appeal as a global financial centre.
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