HONG KONG: A confluence of splashy events in Hong Kong this month, from the Hong Kong Sevens rugby tournament to the Art Basel international art fair, has set the city abuzz.
Finance-centred events have also put a spotlight on the Chinese special administrative region, including the second Milken Institute Global Investors’ Symposium that was held on Monday (Mar 24).
The second HSBC Global Investment Summit will also run from Tuesday to Thursday, while the World Economic Forum will host its first financial services event in Hong Kong on Wednesday.
“Hong Kong remains one of the world’s most open, dynamic and globally connected financial centres,” said the city’s finance chief Paul Chan, who gave opening remarks at think tank Milken Institute’s event after returning from a visit to Beijing.
“Our strong fundamentals, resilient economy, unique role as a gateway to Chinese mainland and Asia, as well as our quick stride to develop financial services and the tech sector continue to provide unparalleled opportunities for global investors,” he told a crowd of senior executives and leaders from finance, business, technology, healthcare, government, and philanthropy.
ECONOMIC CONCERNS LINGER
However, the picture for Hong Kong has not been so rosy in recent years.
Concerns about the economy have lingered since the COVID-19 downturn, with tourism among other sectors still in recovery mode.
Nervousness has also emerged about consumption, as more Hong Kong residents choose to spend their money in neighbouring Shenzhen in mainland China.
https://www.channelnewsasia.com/east-asia/hong-kong-finance-sports-arts-events-milken-institute-symposium-5020351
