Hong Kong A global financial hub of the past, present and future

This year marks the 25th anniversary of the British handover of Hong Kong to China, during which time the financial and political ties between Hong Kong and Mainland China have grown steadily, while the city has continued to draw in international talent and serve as a global financial hub.

Over the decades Hong Kong has attracted major global firms and top financial talent, with its free flow of global capital and trusted legal system. "Hong Kong is the world's leading international financial center. The Hong Kong stock market has changed from a regional financial center for mainly Greater China clients, to a global financial center attracting global clients," says Leaf Hua Li, Chairman and CEO of Futu Holdings, the city's leading retail brokerage firm.

Even so, the coronavirus pandemic has been a challenging time for Hong Kong, which imposed some of the strictest quarantine measures in the world, in order to keep its population safe and reduce infection rates. This had a significant impact on tourism, and led to tens of thousands of Western professionals leaving the city for places like Singapore.

The city is now gearing up for a strong rebound, with quarantine measures lifted significantly in September 2022 and the city welcoming back global visitors and looking to policies that can reaffirm its position as a global hub.

Hong Kong continues to be an international asset management center, with assets under management of approximately HK$35 trillion, and is the largest hedge fund base in Asia, and the second largest private equity fund base.