HKETO Newsroom

July 24, 2020

“Change and Continuity” webinar co-hosted by Toronto ETO and HKCBA in Canada

The Hong Kong Economic and Trade Office, Toronto (Toronto ETO) and the Hong Kong-Canada Business Association (HKCBA) in Canada co-hosted a webinar on July 24 on the latest financial developments and the new national security law in the Hong Kong Special Administrative Region (HKSAR). The webinar entitled “Change and Continuity” is presented by the Secretary for Financial Services and Treasury (SFST) of the HKSAR Government, Mr Christopher Hui, and joined by Mr Arthur Chan, National Chair of the HKCBA.  

Noting 2020 has been a year of change for the world and Hong Kong is no exception, the state and outlook of Asia’s top financial centre is full of challenges. At the webinar, Mr Christopher Hui, spoke on the latest financial situation in Hong Kong. “With the social unrest and emergence of COVID-19, Hong Kong has gone through a difficult year. That said, our financial markets remain vibrant and orderly. The Hong Kong dollar exchange rate is stable and has stayed near the strong side convertibility undertaking. There has not been any noticeable sign of fund outflow from the banking system but rather, we have seen an inflow of over US$ 11 billion since June. Bank deposits have continued to go up over the past months and we have also seen a continuous flow of IPO activities with stock trading showing remarkable increases,” Mr Hui said.

Though COVID-19 has imposed pressure on economies and financial markets worldwide, Hong Kong’s fundamental strengths remain intact. “A powerful combination of factors, including its prime location, rule of law, high-speed communications, free flow of information and capital, low and simple tax system, continue to make Hong Kong a leading international financial centre,” Mr Hui continued.  

Mr Hui pointed out that the HKSAR Government has earmarked HK$6 billion under the Anti-epidemic Fund to create around 30 000 time-limited jobs in both public and private sectors in the coming two years for people of different skill sets and academic qualifications. To support fintech development, the Government has launched the FAST Scheme, offering salary subsidy for fintech companies and start-ups, and other enterprises with fintech-related businesses to create 1 000 new jobs to employ local people and enrich Hong Kong's fintech talent pool.

Looking forward, Mr Hui is optimistic on the financial stability and economy of Hong Kong.

Besides, Mr Hui addressed concern on the new national security law’s implications on the city’s long-term financial stability. “The implementation of the national security law will not have any impact on the normal functioning of the financial markets, nor the normal conduct of businesses. The way in which market participants handle their proprietary data, access or transmit information, conduct commercial analysis or express opinion will not be affected. The law will help restore social stability and with this backdrop, I have every confidence that the financial sector here will continue to develop and thrive,” he said.

Before closing, Mr Hui encouraged Canadian enterprises to tap on Hong Kong’s strengths and status as a global financial centre, an asset and wealth management centre and an offshore RMB business hub, as they expand and invest in the Guangdong-Hong Kong-Macao Greater Bay Area and beyond.

The webinar, moderated by HKCBA National Chair, Mr Arthur Chan, received overwhelming response and support from HKCBA members in Canada. Mr Hui addressed various questions from members after his presentation at the webinar.

Speaker information:

Mr. Christopher Hui, Secretary for Financial Services and the Treasury, Hong Kong Special Administrative Region Government

Mr Christopher Hui Ching-yu was appointed the Secretary for Financial Services and the Treasury on April 22, 2020. Mr Hui was an Administrative Officer in the Government from 1999 to 2003 and served in the Economic Development Branch, the Office of the Government of the Hong Kong Special Administrative Region in Beijing and the Home Affairs Department. Mr Hui worked in the banking sector after leaving the Government in 2003 and has worked for the Hong Kong Exchanges and Clearing Limited for over 10 years. He has been the Executive Director of the Hong Kong Financial Services Development Council since 2019. Mr Hui holds Bachelor and Master (Hon) Degrees in Philosophy, Politics and Economics from the University of Oxford, and Master of Business Administration Degree from INSEAD. He also attended the Stanford Executive Programme (SEP).

July 24, 2020

香港經貿處及港加商會合辦「改變與持續」網上研討會

香港駐多倫多經濟貿易辦事處(香港經貿處)及港加商會(加拿大總會)於七月二十四日合辦網上研討會,闡述有關香港特別行政區(香港特區)政府的最新金融發展及新實施的《香港國安法》。題為「改變與持續」的網上研討會由香港特區政府財經事務及庫務局局長許正宇主講,港加商會全國主席陳文灝主持。

二O二O年是全球面對轉變的一年,作為亞洲最大金融中心的香港也不例外,其狀況和前景亦充滿挑戰。在網上研討會上,許正宇闡述香港最新的金融狀況。他表示:「香港因為社會事件和新冠肺炎的出現而經歷了艱難的一年。雖然如此,我們的金融市場仍保持活躍、運作有序。港元匯價穩定並偏向強方兌換保證水平。銀行體系沒有明顯的資金流出跡象;相反,我們見到自六月以來超過110億美元資金流入。銀行的存款總額在過去幾個月也持續增加,而股票市場有一連串公開招股集資活動,市場成交屢見上升。」

雖然新冠肺炎為全球經濟及金融市場帶來壓力,但香港的基本優勢仍然保持不變。許正宇續說:「香港擁有的多項優勢,包括優越地利、法治、高速通訊、資訊和資金自由流通、以及簡單低稅制,使香港持繼續成為領先的國際金融中心。」

許正宇指出,香港特區政府在「防疫抗疫基金」預留60億港元,於未來兩年在公營及私營界別創造約30 000個有時限的職位,涵蓋不同技能及學歷人士。為支持金融科技的發展,香港特區政府亦已推出「千人計劃」,資助本地金融科技公司、初創及其他有金融科技相關業務的企業,以創造1 000個新職位,聘用本地人才及豐富香港的金融科技人才庫。

展望未來,許正宇對香港的金融穩定及經濟表示樂觀。

此外,對於各界關注新實施的《香港國安法》對香港金融市場的長遠影響,許正宇亦作出解釋。他表示:「《香港國安法》的實施不會對金融市場的正常運作或金融機構的日常業務產生任何影響,亦不會阻礙市場人士如常處理自有的資料和數據、搜集或發放資訊、進行商業分析或發表意見。《香港國安法》可以發揮穩定社會的作用,而在這個背景下,我有信心香港的金融業會繼續蓬勃發展。」

最後,許正宇鼓勵加拿大企業善用香港的優勢及其作為國際金融中心、國際資產及財富管理中心以及全球離岸人民幣業務樞紐的地位,在粵港澳大灣區及附近地區發展及投資。

由港加商會全國主席陳文灝主持的網上研討會獲得港加商會全國會員的熱烈回應及支持,許正宇主講後,解答了與會者不同的提問。

講者資料 :

香港特別行政區政府財經事務及庫務局局長許正宇

許正宇由2020年4月22日起出任財經事務及庫務局局長。1999年至2003年期間出任香港特區政府政務主任,曾被調派到經濟發展科、香港特區政府駐北京辦事處和民政事務總署服務。他在2003年離開政府後曾任職銀行界,其後在香港交易所工作長達十多年,並自2019年起出任香港金融發展局行政總監。許正宇持有英國牛津大學哲學、政治及經濟系榮譽學士與碩士學位,以及INSEAD工商管理碩士學位。他亦參與史丹福大學行政人員培訓課程。