Exclusive | Hong Kong strengthens role as China’s financial springboard, says UBS China chief
Hong Kong is showing the world that China is ‘open for business’, as the financial centre provides a bridge for China’s ideas
As Beijing recalibrates trade and investment away from the US, Hong Kong is being cast once again as the launch pad for China’s global ambitions.
A surge in cross-border flows between the city and the mainland this year has underscored Hong Kong’s enduring role as China’s financial springboard, according to UBS Securities’ chairwoman Janice Hu.
“China is showing the world it is open for business as it sets conducive, clear and structured policy standards while upholding control protocols,” Hu said in an interview with the Post. “We need to be a bridge, an agent to make sure the good intentions are understood, and Hong Kong is the ground to realise some of China’s ideas.”
UBS’ China country head said Hong Kong’s advantage was in its ability to act as a proving ground for financial innovation.
One example is Jiaxin International Resources’ dual listing in Hong Kong and Astana in August, the first yuan-denominated deal of its kind on the Kazakh exchange.