HONG KONG'S FINANCIAL services industry is recognised as one of the pillars of the local economy. As the mainland's GDP continues to grow rapidly, the industry offers unprecedented opportunities.
The sector encompasses banking, insurance, securities and futures, management of retirement and provident funds, and the debt market.
Vincent Kwan, chief economist at Hang Seng Bank, said the biggest challenge and opportunity for the local financial services industry was to serve the mainland.
He said Hong Kong's future as a true international financial centre lay in its ability to serve the world's fastest growing major economy.
'Other centres such as New York and London grew from serving the domestic economy to become international,' Mr Kwan said.
'Hong Kong is already an international centre, but not yet a national one. So there is a role to develop in the mainland.'