Financial Services Development Council advises on HK’s positioning

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The Financial Services Development Council published its annual report for the 2024/25 financial year today.

Writing in the report, chairman Benjamin Hung said Hong Kong should position itself to take advantage of four financial trends in a world of economic uncertainties.

Established as a high level advisory body by the government to promote the future development of the financial services industry, and map out the strategic directions of the developments, the Financial Services Development Council published its latest annual report today.

Chairman Benjamin Hung proposed Hong Kong should position itself to grow its business in a number of areas.

They include being the Global South-facing regional treasury centre, being the preeminent capital markets and wealth centre, being a leading risk management centre, and being a sustainability, innovation and digital transformation leader.

Benjamin Hung, Chairman, Financial Service Development Council: "I do think the world is going through a very uncertain period, but Hong Kong's role has never been more relevant against this fast-changing environment and timing is of the essence."

Executive Director King Au said the council is committed to drive impactful changes and build stronger connections.

King Au, FSDC Executive Director: "FSDC has made meaningful and impactful contributions to Hong Kong's success as a super connector and a super value-adder."

The Council has participated in more than 160 local and international industry events during the reporting period, such as the Earth Forum 2024, the Shanghai-Hong Kong Cooperation and Development Forum 2024, and exchanges with the Qatar Financial Centres, when the council explained Hong Kong's competitive advantages in financial innovation.

Benjamin Hung said opportunities still outweigh risks in terms of trade, technology and capital markets.

He said Hong Kong is well-positioned to retain its competitive edge, and even reinforce its leadership position in shaping the future of financial services.