Editorial | Hong Kong’s future as a financial centre looks golden
Tangible progress, including a gold trading deal with Shanghai, on display at the Asian Financial Forum shows the city is far from losing its edge
Hong Kong’s resilience and evolution as a global financial centre was shining brightly this week when important milestones were unveiled at an international business gathering in the city. The community should celebrate the “unprecedented achievements” and prepare to work to ensure the momentum continues in an era of great geopolitical uncertainty.
Meanwhile, the milestone deal positions Hong Kong to serve with Shanghai as a global gold reserve hub. Currently, New York and London are the only such trading and clearing centres.
There are strong reasons to be optimistic. The influx of firms with capital and trust illustrate how the critical business mass in Hong Kong opens doors. Linking up with Shanghai leverages Hong Kong’s “superconnector” role to create a powerful, integrated gold ecosystem that appeals to international investors seeking safety amid global turbulence.
Other positive signs of the city’s progress emerged from separate AFF sessions. One explored how Hong Kong’s banking sector is leading a shift from paper to artificial intelligence and smart data. Another highlighted the robust fundraising pipeline in Hong Kong, where more than 400 companies are lining up for initial public offerings.