17th Asian Financial Forum kicks off in Hong Kong

HONG KONG -- The 17th Asian Financial Forum (AFF) opened Wednesday in Hong Kong with a focus on the potential of the Chinese mainland market and the role and advantages that Hong Kong can play.

John Lee, chief executive of China's Hong Kong Special Administrative Region (HKSAR), said in his speech at the forum that "one country, two systems" brings far-reaching opportunities to Hong Kong, enabling its financial sector to thrive despite challenges.

He said Hong Kong has long been a major listing platform for companies worldwide, while serving as a pre-eminent biotech fundraising hub.

Lee said mutual market access between Hong Kong and the Chinese mainland, from stocks to bonds and derivatives, continues to expand, firmly establishing Hong Kong's indispensable role as the capital bridge between the mainland and international financial markets.

Li Yunze, head of the National Financial Regulatory Administration, said the mainland economy has a solid foundation for development, with ample vitality for economic growth and significant room for macroeconomic policies.

Noting that the favorable conditions outweigh the unfavorable factors, Li said the mainland economy will continue to perform well in the long term, with a sustained improvement in its structure and a trend towards high-quality development that will not change.

Li said the mainland economy will undoubtedly make steady progress in overcoming challenges and continue to provide a strong impetus for global economic development.

Speaking about consolidating and enhancing Hong Kong's status as an international financial center, Li said Hong Kong will undoubtedly unleash greater vitality and stronger competitiveness, making a greater contribution to the prosperity and development of the Asian region.

Peter KN Lam, chairman of the Hong Kong Trade Development Council (HKTDC), said that the forum brings together leading policymakers and industry players from the world of finance and business to engage in meaningful, forward-looking conversations and find ways to collaborate for success on today's most pressing issues.

The two-day event, co-organized by the HKSAR government and HKTDC, will encompass diverse events, including over 40 thematic discussions, policy dialogue, keynote luncheons and breakfast panel, and workshops. It is expected to attract over 3,000 finance and business elites.