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No threat to Hong Kong’s crown as international financial centre, AXA Investment Managers says
- Terence Lam, AXA Investment Managers’ head of sales and marketing for Asia, remains ‘bullish’ on city
- Hong Kong remains one of AXA’s biggest markets as it eyes expansion in the region
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Hong Kong will retain its status as an international financial hub despite economic challenges from months of anti-government street protests, the coronavirus pandemic and concerns about a controversial national security law, according to a senior executive at AXA Investment Managers.
Terence Lam, head of sales and trading for Asia and a Hong Kong native, said the city has faced crises before – and rivals who want to steal its crown – but he remains confident the city will remain competitive against the likes of Singapore and other markets as an investment and fundraising centre for international business.
“I think people talk about Hong Kong being replaced by somewhere else as one of the key financial centres,” Lam said. “If you really want to replace Hong Kong, it will take a long time and a lot of effort. I’m still very very bullish on how Hong Kong will survive through this.”
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Questions have arisen about whether capital would flee the city since the protests began last year and only intensified after the national security law was approved last month by China’s legislature, the National People’s Congress.
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