对话蔡冠深：IPO重回全球第一，香港金融中心地位正在回归【完整版】 |《封面》

Core Viewpoint - Hong Kong is undergoing a fundamental transformation, evolving from a "contact" role to a "value-added" role in the global economy, particularly in the context of its financial center status and the integration with the Greater Bay Area [1][2]. Group 1: Financial Recovery and IPOs - Hong Kong's IPO financing amount has returned to the top globally in the first half of 2025, indicating a significant recovery of financial confidence and a response to previous capital outflow concerns [4][5]. - The influx of capital is attributed to the government's talent and enterprise attraction policies, which have led to increased IPO activity and a resurgence of funds from regions like the US and Singapore [5][6]. Group 2: Strategic Restructuring - Three major transformations are occurring in Hong Kong: systematic financial confidence restoration, strategic reconstruction of tech capabilities, and paradigm shift in outbound business models [2]. - The unique positioning of Hong Kong under the "One Country, Two Systems" framework is highlighted as a fundamental advantage that cannot be replicated by other financial centers like Singapore [2][7]. Group 3: Digital Currency and Offshore Finance - Hong Kong is positioned as a key hub for offshore RMB transactions, with over one trillion RMB in offshore funds, emphasizing the need to activate these funds for better circulation and utility [11][12]. - The integration of digital RMB with offshore RMB systems is seen as a potential way to enhance trade settlement efficiency and stability [11]. Group 4: Greater Bay Area Integration - The focus is on improving "soft connectivity" in the Greater Bay Area, addressing issues related to the flow of people, goods, capital, and data, which are crucial for fostering innovation and collaboration [15][16]. - The need for regulatory frameworks to facilitate data flow between Hong Kong and mainland China is emphasized, particularly in the context of AI and technology development [16][18]. Group 5: Outbound Business Strategies - The "combined shipping" strategy is proposed for Hong Kong enterprises to leverage their financial and professional service strengths alongside mainland manufacturing and infrastructure capabilities to explore emerging markets like ASEAN and the Middle East [20][27]. - The focus on local market development in regions like Vietnam is encouraged, highlighting the potential for strong consumer demand and the importance of localization in business strategies [26][27]. Group 6: Technological Innovation - The government aims to accelerate the development of the Northern Metropolis to integrate technology and finance, with a focus on reducing project approval times to foster innovation [29][30]. - The relationship between Hong Kong and Shenzhen is framed as complementary, with Hong Kong providing financial services and R&D while Shenzhen focuses on industrialization and production [31].