Resilience and dynamism were cited as key characteristics that have and will continue to enable Hong Kong to retain its status as an international financial center, according to MSCI chief executive Henry Fernandez.
«I’ve been going to Hong Kong, China and the rest of Asia for over 40 years. I have heard this story before many times, as to the demise and the relevance of Hong Kong,» Fernandez said during a «Bloomberg» virtual conference. «It hasn’t happened. Every time, Hong Kong comes back stronger, more resilient and reinvents itself.»
The comments follow fears about the longevity of Hong Kong’s financial hub status due to the implementation of the controversial national security law. Onlookers within the business and investor community have highlighted various fears ranging from asset security to loss of freedoms like free flow of information or speech.
«Hong Kong is a great financial center and will continue to prosper, for sure, for years and decades to come,» Fernandez said, also underlining the market’s deep pool of liquidity and strong base of international, regional and Chinese investors.
A-Share Futures
When asked about the potential for A-share futures, Fernandez noted that the conditions for obtaining approval from mainland China were improving, reiterating the country’s commitments to the semi-autonomous city.
«We believe that China now has a very strong interest in supporting and encouraging the development of Hong Kong as an international financial center,» he said. «That could potentially be a good window for us to be able to launch that contract»
