Ma Siheng: Hong Kong must become an international financial center every day, and the place cannot lose

The former Secretary for Commerce and Economic Development, Ma Si-hang, has extensive experience in the financial industry. He recently attended a youth event to share his views on the future challenges and opportunities of Hong Kong's financial center.

Ma Si-hang pointed out that there are four important elements for Hong Kong to become an international financial center, including an independent legal environment, good regulatory agencies, talents and government behavior.

In addition, he also said that the support of the state is also very important to the success of Hong Kong. Since the first H-share Tsingtao Brewery (0168) was listed in Hong Kong in 1995, the entire market has changed. Many mainland companies have listed in Hong Kong to raise funds. It accounts for nearly 80% of the value of the Hong Kong stock market.

Ma Siheng continued to point out that the financial service industry currently accounts for about 23% of Hong Kong's GDP and contributes significantly to the economy. Therefore, "an international financial center cannot lose."

Ma Siheng continued that the financial service industry has made a significant contribution to Hong Kong's economy, so "an international financial center cannot lose".

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Prevent others from "robbing us"

Talking about the challenges, Ma Siheng said clearly that in the international situation, the whole world wants to develop the financial industry. Although it is not easy to succeed, it will also bring competition to Hong Kong. Therefore, Hong Kong must make progress every day to prevent others from "robbing us". In addition, he called on Beware of geopolitical risks, such as possible further sanctions by the United States, but add that as long as Hong Kong strengthens itself and improves its own conditions, the impact of sanctions can be mitigated.

Hong Kong and American accountants terminated the mutual recognition of qualifications. When asked about the impact, Ma Siheng believed that this trend is not good, but he believes that there is no need to worry too much. Hong Kong will eventually have "status". Many multinational companies are located in Hong Kong, and the head offices of the Big Four accountants will also Fighting for the interests of Hong Kong, "Could it be that they will destroy their own jobs?"

In addition, many companies are facing the problem of brain drain. Ma Si-hang also encourages young people to participate in the financial industry, bluntly saying that the rewards are huge, "If you do well, you will definitely earn a lot of money and learn a lot... working in the financial industry At the end of the day, no one can fire you, and you will be promoted!"