UBS Chairman Colm Kelleher projected a positive attitude towards developments in China at a Hong Kong financial forum. He said the strict zero-covid regime would have to be relaxed.
At an international financial forum in Hong Kong, a number of senior bank executives demonstrated their affinity for the financial hub. At a panel discussion, UBS Chairman Colm Kelleher emphasized his belief in the great economic strength of the People's Republic. Bankers worldwide are all very pro-China, Kelleher said, according to a «Financial Times» (paywall) report.
Kelleher was joined in the discussion by Goldman Sachs CEO David Solomon, Morgan Stanley's James Gorman, Blackstone CFO Michael Chae, and Bank of China President Liu Jin.
Braking Covid Policy
Earlier, senior Chinese officials had emphasized the strength of the country's economic and political position in video inserts. «I would advise international investors to find out what’s really going on in China and what’s the real intention of our government by themselves. Don’t read too much of the international media,» said Fang Xinghai, vice chief of the China Securities Regulatory Commission.
«We’re not reading the American press, we actually buy the (China) story,» Kelleher said, referring to the Covid policy. «But it is a bit (of a matter of) waiting for zero-Covid to open up in China to see what will happen,» he added.
Plugging Hong Kong
The event aims to convince investors Hong Kong will remain the leading financial center and gateway to the Chinese market. Restrictions on civil liberties and strict zero-covid policies on entry and exit, as well as strict quarantine and testing guidelines, weakened the former British crown colony's position relative to the likes of Singapore.
