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Published: 10:28, April 19, 2023 | Updated: 13:31, April 19, 2023
Hui promotes opportunities for HK financial services in UK
By Wang Zhan
Published:10:28, April 19, 2023 Updated:13:31, April 19, 2023 By Wang Zhan

Hong Kong's Secretary for Financial Services and the Treasury, Christopher Hui Ching-yu (fourth left), gives a briefing on the latest developments in Hong Kong to Asia House in London, the United Kingdo, April 18, 2023. Looking on are Director-General of the Hong Kong Economic and Trade Office in London, Gilford Law (fourth right), and Chief Executive of Asia House, Michael Lawrence (third left). (PHOTO COURTESY OF HKSAR GOVT)

HONG KONG – Hong Kong’s secretary for financial services and the treasury on Tuesday shared with stakeholders in London opportunities for financial services brought by the Hong Kong Special Administrative Region to the United Kingdom.

Currently visiting the UK, Christopher Hui Ching-yu met with senior officials of the country there, the government said in a news release.

Hui delivered a speech at the luncheon with the Hong Kong Association, which acts as a focus in the UK for promoting the long-standing business and trading relationship between Hong Kong and the UK. 

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Secretary for Financial Services and the Treasury, Christopher Hui (left) meets with the Minister of State in the Department for Business and Trade, Lord Dominic Johnson (right) in London, the UK, April 18, 2023. (PHOTO COURTESY OF HKSAR GOVT)

The association has over 80 corporate members including global banks, international enterprises and the China-Britain Business Council.

As two of the most important global financial centers, Hong Kong and London have plenty of opportunities to cooperate and thrive together.

Christopher Hui, Secretary for Financial Services and the Treasury, HKSAR

Summarising the Hong Kong opportunities into five major areas – location in the heart of Asia, doing business as usual, connectivity with the Chinese mainland market, digitalization of financial services and emphasis on environmental, social and governance (ESG), Hui said the SAR could foster closer collaboration with the UK in terms of financial services.

“As two of the most important global financial centers, Hong Kong and London have plenty of opportunities to cooperate and thrive together," he said.  

The treasury chief also gave a detailed briefing to Asia House, an independent think tank based in the UK, on green and sustainable finance development in Hong Kong. 

To achieve the targets of 50 percent reduction in carbon emissions before 2035 and carbon neutrality before 2050, the HKSAR government has been working in concert with financial regulators and the industry through a multipronged strategy, he said. 

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“Hong Kong is indeed already a very active market, with total green and sustainable debt (including both bonds and loans) issued in Hong Kong increasing by over 40 percent from 2021 to $80.5 billion in 2022. As at the end of last year, there were 177 ESG funds authorized by our regulator with total assets under management of $142 billion.”

Secretary for Financial Services and the Treasury, Christopher Hui (second left), pays a courtesy call on the Chinese Ambassador to the UK, Zheng Zeguang (second right) in London, the UK, April 18, 2023. (PHOTO COURTESY OF HKSAR GOVT)

Secretary for Financial Services and the Treasury, Christopher Hui delivers a speech at the luncheon with the Hong Kong Association in London, the UK, April 18, 2023. (PHOTO COURTESY OF HKSAR GOVT)

Secretary for Financial Services and the Treasury, Christopher Hui (third right, front row) meets with a number of the UK’s parliamentary members at Hong Kong Association Lunch in London, the UK, April 18, 2023, including Member of the House of Lords, Lord Gerry Grimstone (fourth right, front row), and Member of House of Commons, Richard Graham (second right, front row). (PHOTO COURTESY OF HKSAR GOVT)

Secretary for Financial Services and the Treasury, Christopher Hui (left), yesterday meets with the Minister of State (Indo-Pacific), Foreign, Commonwealth and Development Affairs, Anne-Marie Trevelyan (right) in London, the UK. (PHOTO COURTESY OF HKSAR GOVT)

Secretary for Financial Services and the Treasury, Christopher Hui (right), meets with Economic Secretary to the HM Treasury, Andrew Griffith (left) in London, the UK, Apr 18, 2023. (PHOTO COURTESY OF HKSAR GOVT)

Hui also met with the Minister of State in the Department for Business and Trade, Lord Dominic Johnson; Minister of State (Indo-Pacific), Foreign, Commonwealth and Development Affairs, Anne-Marie Trevelyan; and Economic Secretary to the HM Treasury, Andrew Griffith. 

During the three bilateral meetings, both sides exchanged views on issues of mutual concern.

Hui also paid a courtesy call on the Chinese Ambassador to the UK, Zheng Zeguang.

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