Hong Kong has great growth potential: FS
Financial Secretary Paul Chan on Sunday hailed Hong Kong as one of the markets that offers the most potential for growth. Writing on his blog, he said innovation and technology, such as artificial intelligence, biomedicine, fintech and Web 3.0 are taking shape in the territory. The minister also pointed out that leading firms from around the world are setting up shop here, and they have attracted many private equity and venture capital funds to the SAR. Meanwhile, Chan said HK$250 billion was injected into the local stock market under the Southbound Scheme in 2023, and it was estimated that the city's total savings had grown over five percent last year. "The figures reflect that we still have a 'net inflow' of funds," the finance chief wrote. He said Hong Kong's wealth management business has great potential, noting that the BCG Global Wealth Report forecasted a 7.6 percent growth per year from 2022 to 2027. "Many international investors who are familiar with the Hong Kong market agree that Hong Kong is one of the most ideal options,” he wrote. The Financial Secretary also said he hopes to showcase the SAR’s latest opportunities to investors who have not been to Hong Kong or the mainland for a while when he attends the upcoming World Economic Forum Annual Meeting in Switzerland.