'Top Bankers In HK Show HK's Importance To Them'

The head of the Monetary Authority, Eddie Yue, said last week's high-profile investment summit is an indication of Hong Kong's significance to the global financial system, as it was almost a “mission impossible” to gather so many top bankers in one place even before the pandemic.

In a blog post published on Thursday, Yue wrote that by being here for the Global Financial Leaders’ Investment Summit, the executives had demonstrated the "high importance" they attach to the Hong Kong and mainland markets, adding that they're planning to develop their business here as Hong Kong returns to normalcy.

The three-day event that ended on November 3 saw more than 200 leaders from around 120 global financial institutions gathering in the SAR.

"Perhaps some would wonder why just having some financial heavyweights speak on stage would help strengthen Hong Kong’s status as an international financial centre," Yue wrote.

"It was almost a 'mission impossible' to get them all to attend the same event in Hong Kong...as chiefs of their institutions, these financial leaders did not come all the way to Hong Kong just for show."

Yue added that many financial leaders had told him that they will be inviting senior management or key clients and investors to Hong Kong, while some have started preparing for large-scale international conferences here.

Authorities earlier said they plan to bring back the summit next year.