Hong Kong’s leader has urged the banking sector to support financing the city’s creation of a new economic engine in innovation and technology (I&T) while expanding offshore yuan business, a key area for aligning with national strategies.
Speaking at the Hong Kong Association of Banks’ Distinguished Speaker Luncheon on Friday, Chief Executive John Lee Ka-chiu called for closer partnership between the government and banking sector in four areas.
They comprise expanding offshore renminbi business, encouraging I&T through finance, developing commodity trading, and strengthening financial security and market integrity.
“Strategic growth hinges on technological self-reliance and high-quality development. That very much includes the Northern Metropolis,” Lee said.
The Northern Metropolis would integrate university town areas with (I&T) and industry, providing an environment for living, working and travelling, he noted.
“It will become a breakthrough point for our city’s rapid development,” he said.