HSBC CEO Quinn
- Says bank has recruited silicon valley bank team in Hong Kong
- Says new to bank activity in retail banking in greater bay area up by 70%, SME activity in Hong Kong up 90% post COVID.
- Says wealth flow from mainland China to Hong Kong has grown by 3 to 4 times this year
There is a wider flow of wealth out of China than what he is referring to, investors are nervous about heavy-handed intervention by Chinese Communist Party Chairman Xi weighing on business.
---
Speaking from the Hong Kong Monetary Authority is Global Financial Leaders' Investment Summit:
- jointly organised with the Securities and Futures Commission and the Hong Kong Academy of Finance:
- a three-day event
- including roundtable discussion, welcome dinner, main summit event and an investment forum
- attended by financial leaders from global financial institutions including banks, securities firms, asset managers, sovereign wealth funds, private equity and venture capital firms, hedge funds, and insurers
