Christopher Hui in New York to promote Hong Kong’s superconnector role in meetings with likes of Michael Bloomberg, Fed CEO

Hong Kong remains a magnet for global business, investment and talent, Hui tells Hong Kong community in New York

Treasury chief starts trip by meeting S&P’s Paul Gruenwald and New York Federal Reserve’s John Williams

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Christopher Hui, right, and John Williams of the New York Federal Reserve discussed global economic trends and interest rates during their meeting overnight in New York. Photo: SCMP

Published: 8:00pm, 9 Apr 2024Updated: 8:11pm, 9 Apr 2024

Treasury chief Christopher Hui Ching-yu is visiting New York to promote Hong Kong’s role as a superconnector linking China and the United States.

The Secretary for Financial Services and the Treasury will meet Michael Bloomberg, founder of financial media company Bloomberg and former New York City mayor, on Tuesday. He will also address local business and financial leaders.

Hui will also join a round-table discussion on Tuesday regarding Hong Kong’s fintech developments, speak at a lunch co-hosted by the Hong Kong Economic and Trade Office, New York, and the Asia Society, and meet leaders of financial institutions.

“We are a leading international asset and wealth-management hub in Asia, managing close to US$4 trillion in assets at the end of 2022, with two-thirds sourced from non-Hong Kong investors,” Hui said in an address overnight on Monday to the city’s Hong Kong community.

Hong Kong remains a magnet for global business, investment and talent, he said. The city is home to more than 12,500 ultra-high-net-worth individuals – surpassing any other city globally – as well as 2,700 single-family offices, he added.

Hui began his trip by meeting Paul Gruenwald, the global chief economist at S&P Global Ratings, on Monday. During the meeting, Hui elaborated on the measures that Hong Kong has taken to maintain its robust financial system and fiscal condition.