Hong Kong to top Singapore as international financial hub thanks to role as super-connector to China: HKEX chairwoman
- Singapore may have the edge at the moment, but Hong Kong has more longer-term advantages to attract capital and talent, HKEX boss says
- Hong Kong’s connection to the Greater Bay Area is like New York City sitting right next to Silicon Valley, Laura Cha argues
Hong Kong will win out over Singapore as an international financial centre in the long term, as the city will attract capital and talent while playing a key role bankrolling innovation in the Greater Bay Area, according to the boss of bourse operator Hong Kong Exchanges and Clearing (HKEX).
“While Singapore may be in an advantaged position in the short term to tap talent and investment, Hong Kong has many unique advantages for the long term to attract capital and talent, due to our rule of law, transparency, reliability and connection with China,” Laura Cha Shih May-lung, chairwoman of HKEX, said in a forum at the University of Hong Kong on Wednesday.
Cha answered “definitely yes” when one of the hundreds of students attending the event questioned whether Hong Kong can still compete with Singapore as a financial hub.
“Hong Kong has a lot of strengths, including the free flow of information and free flow of capital, while we also act as a super-connector between China and the world,” Cha said.
She admitted that the social unrest in 2019 and the pandemic since 2020 have led people to question Hong Kong’s status.