After Hong Kong's entry quarantine was relaxed to "0+3", the details of the international major event "International Financial Leaders Investment Summit" have finally been released. The President of the HKMA, Yu Weiwen, announced this morning that the summit will be held on November 1 and 2 at the Four Seasons Hotel in Central. The event will be held, and several senior executives of heavyweight financial institutions will be invited to attend. It is believed that it will help Hong Kong become a "beautiful brand in the province".
This summit is particularly worthy of attention, as the epidemic has lasted for more than two years. While customs clearance and return to normal have begun in various places, Hong Kong still adheres to the epidemic prevention policy of "not lying flat". Compared with Singapore's "opening the middle door", it is very "lossy". The idea of "Nulum Harbor" becoming "Nulum Star" emerged spontaneously.
In fact, the Hong Kong government plans to hold the "Hong Kong Fintech Week" from October 31 to November 4, but Singapore also decided to host the "Fintech Festival" at the same time.
The Twin Cities and Three Forums are worth comparing.
Although the entry quarantine has been relaxed to "0+3", on the whole, Hong Kong still adheres to the "not lying flat" epidemic prevention policy. Many business people worry that the latest customs clearance arrangements will still be difficult to attract overseas tourists and business tourists to visit Hong Kong. Compared with other regions in the region, especially Singapore's strategy of "opening the middle door", the quarantine measures in Hong Kong may put its own financial position at risk.
In the past, Hong Kong and Singapore were both the "Asian Tigers", but the immigration wave and the epidemic prevention policy have exacerbated the brain drain in Hong Kong, and many financial and technological talents have turned to Singapore for development.
Although Hong Kong has a Mainland Talent Scheme, Singapore is more international-minded and has recently launched the "Overseas Network and Professional Visa" scheme to attract top talents.
Not only for talent, but also for business in Singapore. The only recycling facility in Hong Kong for paper-packed beverage boxes, "Mil Mill", located in Yuen Long Innovation Park, was not able to renew the lease of the Science and Technology Park, and Singapore also extended an olive branch.
Hong Kong still adheres to the "not lying flat" epidemic prevention policy, which is very "losing" compared to Singapore's "opening the middle door".
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Another move to shake the Lion City Hong Kong government
The confrontation between the two sides has also extended to holding international large-scale events.
The Hong Kong government plans to hold the "Hong Kong Fintech Week" from October 31 to November 4, but Singapore has also decided to host the "Fintech Festival" at the same time. The Monetary Authority of Singapore (MAS) announced in the middle of last month that the Singapore Fintech Festival It will be held from November 2 to 4 this year.
After two days of "collision", in the face of Singapore's challenge of "showing its position", the Hong Kong government made another move and scheduled the "International Financial Leaders Investment Summit" to be held on November 1 and 2.
The Chief Executive of the HKMA, Yu Weiwen, published an article in "Interview" today, pointing out that the summit will focus on three major challenges and opportunities facing the global financial community, namely stagflation risk, uncertainty brought about by rising interest rates, increasingly complex geopolitics, and the ongoing epidemic. The additive risk posed by the impact.
The Chief Executive of the HKMA, Yu Weiwen, said that 200 leaders of the financial industry will participate in the International Financial Summit.
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Fintech event "The Stars Shine" in Sin Chew
Can the Hong Kong government's "two-on-one" approach win?
First, let's take a look at the speakers of "Hong Kong Fintech Week" this year. Peng Sijia, CEO of Motong Hong Kong, Peng Yijie, Chief Sustainability Officer of Ant Group, Sun Yu, Vice Chairman and President of Bank of China Hong Kong, Executive Vice Chairman and Executive Vice Chairman of New World (0017) President Zheng Zhigang, etc.
In Singapore, the "Fintech Festival" is the first time in three years that it will be held in a physical form. The attendees will be attended by both corporate executives and political "fighters". The speakers on the list include the head of the New York Financial Services Department, Coinbase CEO, Crypto .com CEO.
New Zealand Prime Minister Ardern, Indian Prime Minister Narendra Modi, International Monetary Fund (IMF) President Kristalina Georgieva, Xiaomi (1810) co-founder Hong Feng, Ant Group CEO Jing Xiandong, Visa CEO, Master CEO , Microsoft founder Bill Gates, Standard Chartered (2888) CEO Wen Tuosi, HSBC (0005) CEO Qi Yaonian, Citigroup CEO Fan Jien, BlackRock CEO Larry Fink, and DBS CEO Piyush Gupta.
Microsoft founder Bill Gates was on the list of attendees at the Singapore FinTech Festival.
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More than 200 financial leaders participated in the Hong Kong Financial Forum
At the Fintech Forum, Singapore's lineup seemed to be more "stacked", but Hong Kong's "International Financial Leaders Investment Summit" also pulled back a battle.
Yu Weiwen pointed out that there will be 200 leaders in the financial industry, and many senior executives of heavyweight financial institutions will participate in the summit. He also pointed out that there will be more than 100 major global financial institutions at the summit, of which more than 30 institutions have directors. representative of the president or chief executive.
Judging from the list, the guest list is indeed star-studded. In addition to HSBC Qi Yaonian and Standard Chartered Wentuosi, there are also Goldman Sachs CEO David Solomon, Blackstone President Jonathan Gray and Citigroup CEO Fan Jien.
Looking at the list, it is not difficult to find that the attendance lists of Singapore's "Fintech Festival" and Hong Kong's "International Financial Leaders Investment Summit" have "collided". For example, HSBC, Standard Chartered and Citi helmsman agreed to attend the two major events, but " Popularity" Hong Kong still has an advantage.
MP: Relaxing to "0+0" will make participants feel better
Comparing the content of the two events, the schedule of the International Financial Investment Summit is a little more thoughtful. On the first day, we will visit the M+ Museum and have a dinner.
The second day will be the highlight. Three forums will be held that day. Qi Yaonian, Wen Tuosi and others will serve as forum speakers, and the topics will touch on sustainable development and technological innovation.
In addition to the three forums, the Chief Executive, Mr Lee Ka-chiu, and the Financial Secretary, Mr Paul Chan, will also give speeches.
The FinTech Festival in Singapore will last for three days and will discuss various topics, including financial assets and Web 3, ESG and sustainable finance.
However, since Hong Kong still adopts the entry quarantine "0+3", and Singapore does not require quarantine when entering Singapore, it remains to be seen whether the Hong Kong government's strategy of "grabbing people" will attract a group of senior financial companies to come to Hong Kong.
As Chen Zhenying, a member of the Legislative Council of the financial sector, pointed out in an interview, the summit participants are the business cards for promoting Hong Kong. If the number of new crown diagnoses maintains the current downward trend, it is expected to be relaxed to "0+0" in November, and the number of participants coming to Hong Kong Feelings and experiences will be better.
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