Financial institutions laud HK's gateway guardianship
Global bank leaders have lauded Hong Kong for its role as a gateway between the mainland and the rest of the world, facilitating two-way financial flows and minimising risks in an era of uncertainty. At a panel meeting held at the Global Financial Leaders’ Investment Summit in Central, State Street chairman and chief executive Ronald O’Hanley noted that trade patterns had changed in recent years due to uncertainties brought by the pandemic and global conflicts. More borrowers and people looking to raise capital, he said, are looking for safer options when building supply chains and structuring financing – switching from “just in time to just in case”. “Where we’re seeing the most change is around the role of China, and Hong Kong is the gateway to that,” O’Hanley said. "It’s the kind of movement of money north and south and movement of capital north and south, and Hong Kong is playing that role.” Barclays group chief executive C S Venkatakrishnan said firms had been reducing their dependency on strategic imports over the past decade and that the city which is positioned as both an international financial centre as well as a domestic one is the one that can help countries manage the dependencies. “I think in...
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China’s historic first space docking in 2011 – SCMP archive
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