Chairman of the Hong Kong Securities and Futures Commission, Leong Seng Liang: Hong Kong has favorable conditions to promote growth in the Asia-Pacific region.

On February 28th, Mr Leung Tin Leung, Chairman of the Hong Kong Securities and Futures Commission, stated in his speech at the Asia-Pacific Securities Regulatory Summit that the regional integration index shows that the degree of integration in trade, investment, infrastructure, and technology in the Asian region is increasing. Nearly 60% of Asia's trade is conducted within the region, and the share of cross-border financial investments within the region is also steadily increasing. As the international financial center and important capital intermediary in Asia, Hong Kong has favorable conditions to promote regional growth. Looking ahead, as the mainland market continues to open up and economic reforms progress, Hong Kong's unique role as a "super value-added person" will only become more solid. The recently optimized cross-border wealth management scheme is a good example of this. The Securities and Futures Commission is doing its best to promote Hong Kong's capital markets. The Commission's four revised strategic priorities will provide guidance for market development over the next three years, continuing to enhance Hong Kong's global competitiveness, leading the way in technology and ESG transformation, and strengthening market resilience. If Hong Kong can achieve these goals, it is believed that it will create a win-win situation for the Asia-Pacific region and beyond. The original speech text is as follows: Embracing Asia-Pacific Cohesion - Welcome speech at the Asia-Pacific Securities Regulatory Summit by Mr. Leung Tin Leung Distinguished guests, ladies and gentlemen, good afternoon. Welcome to the Asia-Pacific Securities Regulatory Summit hosted by the Securities and Futures Commission. First of all, I want to thank everyone for taking the time to attend today's regulatory forum organized by the Securities and Futures Commission, where we will work together in the beginning of the Year of the Dragon to plan for the future of capital markets in the Asia-Pacific region. A special thank you to the friends who have traveled from Europe and various parts of the Asia-Pacific region. The "Dragon" is a symbol of Asia. In the Chinese zodiac, the dragon symbolizes good luck, courage, and strength, and is the only mythical animal, making the Year of the Dragon special. Just like the dragon, the Asia-Pacific region is full of vitality and energy. With sixty percent of the global population residing in this region, it has a rich and diverse culture, and different social and economic conditions in various places. It is for this reason that we are holding today's forum, to strengthen connections between markets within the region and between regulatory agencies and businesses, share experiences, and seek common ground. In fact, one of the strategic priorities announced by the Securities and Futures Commission in January is to expand our regional network to connect capital markets within the region. Over the past decade, the Asia-Pacific region has been steadily integrating. The regional integration index shows that the degree of integration in trade, investment, infrastructure, and technology in the Asian region is increasing. Nearly sixty percent of trade in Asia is conducted within the region, and the share of cross-border financial investments within the region is also steadily increasing. As the international financial center and key capital intermediary in Asia, Hong Kong has favorable conditions to promote regional growth. In the past year, we have expanded various interconnection mechanisms, successfully enhancing market resilience and infrastructure. We have also increased the diversity of products by trading exchange-traded funds, which have attracted a significant amount of capital inflows. Sustainable finance is another key area of focus for us, and we are pleased to see double-digit growth in assets under management for ESG funds recognized by the Commission by 2023. Looking ahead, as the mainland market continues to open up and economic reforms progress, Hong Kong's unique role as a "super value-added person" will only become more solid. The recently optimized cross-border wealth management scheme is a good example of this. The Securities and Futures Commission is doing its best to promote Hong Kong's capital markets. The Commission's four revised strategic priorities will provide guidance for market development over the next three years, and we will continue to enhance Hong Kong's global competitiveness, lead the way in technology and ESG transformation, and strengthen market resilience based on these priorities. If Hong Kong can achieve these goals, it is believed that it will create a win-win situation for the Asia-Pacific region and beyond. Each of us here should strengthen our connections with each other and seize the opportunities in the Asia-Pacific region. For example, Hong Kong has been strengthening market connections with ASEAN and Middle Eastern countries to pave the way for cross-listings of companies, diversifying the market. The largest exchange-traded fund tracking Saudi Arabian stocks has already been listed in Hong Kong, demonstrating our commitment to integrating the Asia-Pacific market. Nevertheless, the potential for market cooperation in Asia is enormous, but the road ahead is long. Therefore, as we gather this afternoon, we will engage in frank and insightful discussions. The first panel discussion will analyze the landscape of capital markets in the Asia-Pacific region, to examine the current situation we are in. The second discussion will explore how investment funds can ignite growth engines under the shadow of global unfavorable factors. The other two discussions later in the afternoon will delve into important topics regarding sustainable development and technology and analyze how these trends reshape the financial system. As the Securities and Futures Commission celebrates its 35th anniversary this year, we are confident in leading the Asia-Pacific region towards a better and more interconnected future. We are prepared to outline a common vision to overcome the challenges faced by all parties and benefit the Asia-Pacific region and beyond. Finally, I wish you all good luck in the Year of the Dragon and good health. I hope that the forum this afternoon will be enriching for everyone. Thank you all.