HSBC, Hong Kong’s largest commercial bank, will host the city’s largest investment conference, bringing together thousands of global investors and businesses to discuss the most important issues facing the industry and the world.
The HSBC Global Investment Summit, to be held from April 8 to 10, will create a platform for participants to gain a deeper understanding of the opportunities and challenges in financial markets, said Asia Pacific Co-Chief Executive Officer ) Surendra Rocha said in an interview. The Hong Kong Sevens rugby tournament, co-sponsored by the bank and Cathay Pacific Airways, was held prior to the summit.
He added that the event will be of “unprecedented scale” and is expected to be attended by more than 2,500 market experts and 300 business executives. More than 5,000 conferences are planned for participants to explore ideas and issues such as technology, sustainability, climate change and the Asia-Middle East Corridor.
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Surendra Rocha, co-CEO of Asia Pacific at HSBC, said in an interview with SCMP that there is no better place to host the summit than Hong Kong. Photo: Jonathan Wong. alt=There is no better place to host the summit than Hong Kong, Surendra Rocha, co-CEO of Asia Pacific at HSBC, said in an interview with SCMP. Photo: Jonathan Wong>
“It is an honor for us to host this event,” Rocha said. “The real purpose of this conference is to provide a platform for people to connect and understand what is happening around the world and across financial markets. [and] We also need to think about the new networks that are being built. ”
HSBC will fill the gap left by Credit Suisse, which last held a flagship investment conference in March last year, after its demise and subsequent acquisition by rival UBS Group. It will be held at the Conrad Hotel in Central.
This week’s summit will help the UK-based lender further strengthen its leadership in Hong Kong, the world’s biggest market. City contributed US$10.7 billion (35%) to the group’s pre-tax profit in its latest quarterly results, with deposits, assets, card spending, insurance and cash management contributing the most.
According to HSBC, Hong Kong’s connectivity both globally and with mainland China has helped it grow its market share in trade over the past three years, with bank new customers in Hong Kong increasing by 36% thanks to the return to Hong Kong. It is said that he did. Visitors from the mainland after China’s zero-corona policy ended.
Therefore, there is no better place than Hong Kong to host the summit, said Rocha, who was appointed co-CEO in June 2021 alongside David Liao, head of Asia Pacific operations, replacing Peter Wong Tong-shun. No, he said.
He added that Hong Kong’s role as a transit point and intermediary for the world to do business with China and vice versa “remains very strong.” Although China faces some headwinds, its economy still offers “tremendous opportunities”.
“There are some really great companies that are innovating at scale. [in China] We are bringing the brand to other parts of the world,” he said, citing the areas of renewable energy and electric vehicles as key areas of opportunity.
“From small businesses to large corporations that want to pay across borders, being able to make payments through a continuum of CBDCs allows for faster payments, lower costs, and greater transparency,” Rocha said. “So we’re really excited about that.”
Also attending the HSBC Global Investment Summit were Oscar-winning actress Michelle Yeoh, Macquarie Group Asia CEO Verena Lim, Temasek Holdings CEO Dilhan Pillay Sandra Segarra, and Kering Greater China President Tsai Jin. Mr. Kiyoshi will also be among the speakers.
Finance Secretary Paul Chan Mopo, Hong Kong Exchanges and Clearing Board Chair Laura Cha, and Securities and Futures Commission CEO Julia Leung will also address investors at the summit.
The Investment Summit and Hong Kong Sevens follow high-profile events such as Wealth for Good and One Earth Summit to attract investors. Since 2019, social unrest, coronavirus containment measures, national security laws and geopolitical tensions have weakened the city’s financial markets and its attractiveness as a global financial hub.
This article originally appeared in the South China Morning Post (SCMP), the most authoritative news organization on China and Asia for more than a century. For more stories from SCMP, explore the SCMP app or visit SCMP on Facebook. twitter page. Copyright © 2024 South China Morning Post Publishers Ltd. All rights reserved.
Copyright (c) 2024. South China Morning Post Publishers Ltd. All rights reserved.
