Chief Executive John Lee: Hong Kong Remains Key Gathering Place for Global Financial Leaders

Chief Executive John Lee said today that Hong Kong continues to serve as an important gathering place for global financial leaders, even amid profound worldwide changes. Speaking at the International Financial Leaders Investment Summit, he noted that this year’s event has brought together about 280 financial leaders from around the world, including around 120 group chairmen and chief executives.

Lee said Hong Kong is rewriting its development blueprint together with global investors. In September, the city launched its first Five-Year Plan, the first medium- to long-term strategic blueprint of its kind. The plan sets out clear and actionable directions to consolidate Hong Kong’s position as an international financial centre, a global offshore renminbi business hub, an international asset and wealth management centre, and an international risk management centre. He described the plan as providing the certainty that investors value most, offering a transparent roadmap for the city’s direction and the path to achieve it, and invited participants to take part in this development journey.

While rethinking its development model and formulating a strategic blueprint, Lee emphasised that Hong Kong will uphold its core value propositions and safeguard its competitive advantages under “one country, two systems.” These include the vitality of the common law system, free flows of people, capital and ideas, a zero-tariff free market, a simple and low-tax regime, world-class professional services, and the unique advantage of connecting the vast mainland market with the rest of the world. These fundamentals, he said, will always form the foundation of Hong Kong’s development.

Finance remains Hong Kong’s core strength, Lee noted. Last year, the city ranked first globally in IPO fundraising. In the first nine months of this year, amid intensified global competition, Hong Kong raised about US$50 billion through IPOs, ranking second worldwide. It continues to lead as a global offshore renminbi hub, handling around 75 per cent of offshore renminbi payments. As of the end of July, renminbi deposits in Hong Kong stood at about RMB 1.3 trillion, providing ample liquidity for offshore renminbi transactions and financial activities.

Lee also highlighted that Hong Kong has for the first time become the world’s largest cross-boundary wealth management centre, driven by mainland capital inflows and a vibrant fundraising market. Assets under management rose 20 per cent last year to a record US$5.4 trillion, while net investment income nearly tripled to US$270 billion. In June, Hong Kong introduced legislation to enhance tax incentives for funds, single family offices and carried interest. He called on more fund managers and family offices to establish a presence in the city and use it as a base for allocating global capital.

Hong Kong is also opening up high-growth new areas, beginning with gold as the starting point for developing commodity trading. The city is building a gold trading ecosystem that offers price discovery, settlement and physical delivery services. The central clearing and settlement system for gold completed a pilot run in July with positive market feedback and is scheduled for official launch in the first quarter of next year. The system will interconnect with the Shanghai Gold Exchange for physical delivery and will also align with London Bullion Market Association standards, positioning Hong Kong as a trusted hub that gathers Asian gold flows while meeting international standards.

Turning to the Northern Metropolis, Lee said the area accounts for one-third of Hong Kong’s land and borders Shenzhen. It will be developed into a strategic node bringing together education, technology, industry, talent and quality living environments. Plans include three university towns and dedicated land for innovation and technology industries. He invited all sectors to join in building the Northern Metropolis into a hub for innovation, technology and talent.

Despite the rewriting of global financial operating models, Lee said investors will always seek certainty, clarity and confidence — three qualities that Hong Kong can provide. He noted that the APEC Finance Ministers’ Meeting was held in Hong Kong for the first time two weeks ago as part of China’s 2026 APEC activities, underscoring the city’s role as a “super connector.” Later this month, he will attend the 33rd APEC Economic Leaders’ Meeting in Shenzhen to engage with economies representing more than three billion people and over 60 per cent of global GDP, advancing open trade, investment and regional economic cooperation.