HSBC summit: Hong Kong’s heritage in ‘business of thriving’ is ‘not about to change’, John Lee tells global investors

‘I’m confident that as global investors, you can see the far-reaching promise of Hong Kong for yourself,’ Chief Executive tells HSBC summit

The government is committed to enhancing the city’s markets, competitiveness and liquidity, Lee says

3-MIN READ3-MIN

Hong Kong Chief Executive John Lee Ka-chiu speaks at the HSBC Global Investment Summit on April 8, 2024. Photo: Handout

Published: 1:32pm, 8 Apr 2024Updated: 3:02pm, 25 Sep 2024

Hong Kong government officials pitched the city as a prime destination for investment despite economic headwinds and encouraged finance leaders to spend big as they touted the city’s unique connection to China’s markets at the HSBC Global Investors Summit on Monday.

“Hong Kong was a fishing village when HSBC opened here in 1865,” said Hong Kong Chief Executive John Lee Ka-chiu as the event opened at the Conrad Hotel. “And while much has changed since then, one crucial fact remains true, that is the endlessly reinventing city of Hong Kong and the spirit of the people.”

The city is not just “the place for business” but also “a place for you to work hard and play hard and, do remember, spend hard”, he added.

HSBC, the biggest commercial bank in Hong Kong, is hosting the largest investment conference in the city to fill a void left by Credit Suisse. More than 2,500 market professionals and 300 corporate executives are gathering in the city this week to discuss top issues challenging the industry and the world.

Attendees network at the HSBC Global Investors Summit at the Conrad Hotel in Hong Kong on April 8, 2024. Photo: Mia Castagnone

Hundreds of guests crowded the lobby of the hotel – where Credit Suisse held its swansong conference last year – and the ballroom was quickly filled to capacity during the morning sessions on Monday. Attendees spilled over to two floors above the conference room where they were relegated to watching the proceedings via live streaming. Three coffee stands across two floors were kept busy while morning pastries and dim sum plates were kept refilled.

A gala dinner will be held for guests on Monday evening at the M+ museum, while the bank said about 5,000 meetings had been arranged for attendees to explore ideas and issues in technology, sustainability, climate change and the Asia-Middle East corridor, among others.