Source: Hong Kong Government special administrative region
Following is the speech by the Chief Executive, Mr John Lee, at the Asian Financial Forum (AFF) today (January 26):
Honourable Director Zhou Ji of the Liaison Office of the Central People’s Government in the Hong Kong Special Administrative Region, Honourable Deputy Governor Zou Lan of People’s Bank of China, Honourable Commissioner Cui Jiancun of the Ministry of Foreign Affairs of the People’s Republic of China in the Hong Kong Special Administrative Region, Honourable Executive Vice Mayor Wu Wei of Shanghai, Honourable Vice Governor Wang Junshou of Hunan, Professor Frederick Ma (Chairman of the Hong Kong Trade Development Council), government officials and distinguished guests from around the world, ladies and gentlemen,
Good morning. And welcome to Hong Kong and the 19th Asian Financial Forum.
The inaugural Global Business Summit is among the many highlights of this year’s Forum. Designed to encourage deeper financial and industrial co-operation, it will be held throughout tomorrow, day two of the AFF.
It begins with “one country, two systems”, the unique principle that assures us of the unwavering support of China, our country, while continuing to expand our global markets and reach. This unparalleled positioning solidifies our institutional strengths: the rule of law, a judiciary that exercises its power independently, an open and transparent market, the free flow of capital and a low and simple tax regime.
These have ensured Hong Kong thrives as a top destination for enterprises that seek to grow and develop, in an environment that’s safe and convenient to do business. You don’t just have to take my word for it.
According to our annual survey, the number of foreign- and Mainland-affiliated companies in Hong Kong was 11 070 in 2025, up 11 per cent from the year before. That’s a record high number of firms with their parent companies located outside Hong Kong.
The encouraging results represent more than a vote of confidence in Hong Kong by these businesses and entrepreneurs. They also mean our solid efforts in facilitating business establishment and operation, and in creating an enabling ecosystem for start-ups, are bearing fruit.
Over the past year, we introduced a series of measures to enhance Hong Kong’s listing mechanism and stock market. The results are clearly encouraging: the Hang Seng Index surged about 30 per cent last year, while average daily turnover rose to over US$32 billion.
Hong Kong has long been recognised as a hub for asset owners and family offices. At the end of 2024, we managed more than US$4.5 trillion in assets, 11 times our GDP – a year-on-year growth of 13 per cent.
As the world’s largest offshore Renminbi business hub, Hong Kong processes about three quarters of global offshore Renminbi payments and has the largest offshore Renminbi liquidity pool.
The launch, also last year, of offshore Renminbi repurchase and cross-boundary repurchase businesses has boosted Renminbi liquidity channels. These arrangements provide investors with greater convenience, and more stable support, in obtaining liquidity and accessing the onshore repurchase business.
In international bond issuance by Asian institutions, the volume arranged by Hong Kong in 2024 totalled more than US$130 billion, accounting for about 30 per cent of the market.
Hong Kong is also a leading green and sustainable finance hub. In 2024, the volume of green and sustainable bonds arranged in Hong Kong amounted to about US$43 billion, capturing 45 per cent of the regional total and topping the Asian market for seven consecutive years.