In a bold move that spotlights Hong Kong's unique role under the "One Country, Two Systems" framework, the HKSAR is set to reinforce its status as the world's premier finance, shipping and trade "three centers" and evolve into a global hub for top-tier talent. A recent resolution by the CPC Central Committee calls for deepening reforms to advance Chinese modernization, placing Hong Kong at the heart of national growth and global connectivity.
Rooted firmly in the Chinese mainland while enjoying an open capitalist system, Hong Kong leverages free flow of capital, people and information to bridge mainland markets with global networks. Its simple tax regime, robust legal system and efficient professional services make the city a "super-connector" and a "super value-adder" for companies and investors worldwide.
On the finance front, Hong Kong ranks among the top three international financial centers. In the first five months of 2024 alone, the city led global IPO fundraising with 29 listings raising nearly $10 billion, contributing to a 90% year-on-year surge that pushed total IPO proceeds above $11.1 billion.
As the premier offshore RMB business hub, Hong Kong hosts the largest pool of offshore RMB funds\u00151.1 trillion Chinese yuan\u0015and runs the world's biggest offshore RMB foreign-exchange and interest-rate derivatives market. Regulators of the HKSAR and the Chinese mainland continue to expand mutual market-access measures, including plans to bring real estate investment trusts into Stock Connect.
In shipping, Hong Kong stands out as an international maritime center, housing operations for five of the world's top ten ship-management companies and serving as headquarters for three. The HKSAR government's Action Plan on Maritime and Port Development Strategy, launched in late 2023, lays out 10 strategies and 32 action measures to boost high-value maritime services and strengthen the city's role within the Guangdong-Hong Kong-Macao Greater Bay Area.
Green initiatives are also on the rise. In June, Hong Kong completed its largest single liquefied natural gas bunkering operation\u001510,000 cubic meters\u0015underscoring its ambition to become a leading green marine fuel hub and enhance port sustainability.
Looking ahead, the planned Hong Kong Maritime and Port Development Board will serve as a high-level advisory body to shape long-term maritime policies. Together, these initiatives position Hong Kong as a dynamic gateway between the Chinese mainland and the world, driving sustainable growth and talent-led innovation.
Reference(s):
Enhancing HK's role as 'three centers and a hub' for national growth
cgtn.com
