Financial services chief in New York charm offensive
Secretary for Financial Services and the Treasury Christopher Hui has met New York financial and business leaders as well as Hongkongers based in the city, as part of a charm offensive aimed at stepping up economic collaboration between the two places. Hui began his trip by meeting Paul Gruenwald, global chief economist of S&P Global Ratings, and elaborated on Hong Kong’s measures to maintain a robust financial system and a healthy fiscal condition. The financial services chief also met president and chief executive officer of the Federal Reserve Bank of New York John Williams to discuss global economic trends and interest rates. At a roundtable luncheon with the National Committee on United States-China Relations, Hui spoke to committee president Stephen Orlins about economic developments in Hong Kong and China. Hui also visited the New York Stock Exchange, where he met the bourse’s vice president and global head of advisory, Chris Taylor, and director of operations and the exchange’s institute Will Goodwin to discuss Hong Kong’s measures to strengthen stock market competitiveness. Hui also exchanged views with Justin Kreamer, senior vice president of partnership department at New York City Economic Development Corporation, on ramping up co-operation between New York and Hong Kong. Other than talks with financial heavyweights, Hui also met members of Hong Kong communities based in New York at a reception, where he noted that “the SAR remains a magnet for global business investment and talent”. "Hong Kong will be at the heart of the continuing eastward shift of economic prospects. We are not only the 'super connector' but also the 'super value-adder', bringing the East and the West together for rewarding opportunities," he said. “We very much look forward to having more global family offices, including those from the US, to set up or expand in Hong Kong and explore the opportunities we have to offer,” he added, noting that the city managed close to US$4 trillion in assets at the end of 2022, with two thirds sourced from non-Hong Kong investors.