Hong Kong will need to attract global champion firms across different sectors to raise funds to strengthen the city's role as an international financial centre over the next 10 years, according to a concept paper issued by the Financial Services Development Council (FSDC) on Friday. "Global markets do not stand still," said Benjamin Hung Pi-cheng, chairman of the FSDC, at a media briefing where the council outlined a wide range of ideas to bring the city's capital market to the next level. "Hong Kong has ...

Group 1 - The Hong Kong Monetary Authority (HKMA) aims to encourage more mainland banks to establish regional headquarters in Hong Kong to enhance the city's status as an international financial center [1][3] - The local bourse operator plans to improve the listing regime as part of the government's strategy to strengthen Hong Kong's financial position [1] - The government intends to issue more RMB bonds and explore the use of renminbi for government expenditures under appropriate conditions [2] Group 2 - Authorities will introduce additional tax incentives to bolster the family office and wealth management sectors, as well as support gold and yuan trading in Hong Kong [2] - The government is actively inviting the Asian Infrastructure Investment Bank (AIIB) to set up an office in Hong Kong, enhancing the city's financial ecosystem [4] - The government has allocated funds to help universities attract top talent researchers, promoting innovation and development in the region [5] Group 3 - The policy address highlights the strategic role of the Hong Kong Investment Corporation (HKIC) in the city's economic development [6]