Global financial leaders looking to hire more HK talent: Chan

The financial leaders' summit boosted the market's financial status.

When Hong Kong suffered from impacts of strict health restrictions and political woes, the market seeks to prove that it is still the top financial centre in Asia.

To do so, Financial Secretary Paul Chan said the Global Financial Leaders' Investment Summit amplified Hong Kong's role as an international financial centre as global financial institutions were convinced to raise their operation in the market and increase local hiring.

Chan said more senior global executives will also be sent to Hong Kong.

"The summit has sent a powerful message to the world that Hong Kong is back," he added.

Currently, Chan said 77 of the top 100 international banks are in Hong Kong. In August, Banking system in Hong Kong was holding assets to $27t, which is about 9.5 times of 2021 Hong Kong economy.

Virtual assets unfazed

Despite the recent crypto exchange FTX Group filing bankruptcy, Hong Kong's Chan said they still value cryptos and virtual assets and look forward to their development in the market.

"We have pledged to explore financial innovation together with the global VA community," Chan said.

There were also a number of projects to help innovate VAs in the market. Chan also cited their regulatory approach for VAs amidst risks of the assets to financial stability, consumer protection, and terrorist financing.

"In the coming months, we will roll out a new licensing regime for VA services providers. Operators will be subject to regulatory requirements similar to those of traditional financial institutions, including compliance with the anti-money laundering and counter-terrorist financing and investor protection requirements," Chan said.

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