The 14th Asian Financial Forum opened today under the theme of Reshaping World Economic Landscape.

The two-day event, co-organised by the Government and the Trade Development Council, was attended by policymakers, financial experts, business leaders, economists, investors and entrepreneurs.

It was the first time the participants signed up for the forum online to examine opportunities and challenges for finance, investment and business in the new global economic landscape.

Chief Executive Carrie Lam delivered an opening address, pointing out that Hong Kong's fundamentals remain strong amidst the challenges of the COVID-19 pandemic.

“Hong Kong's financial system has demonstrated its strengths and resilience. Our financial markets continue to operate orderly, and that includes the Linked Exchange Rate System.”

Mrs Lam noted that the liquidity in the city's capital markets is remarkable, with an average daily turnover in December up 49% over the same period in 2019.

With its unique advantages as the international financial centre of China and one of the world's major financial cities, Hong Kong will continue to see enormous opportunities when the pandemic is over, she added.

“We continue to be an ideal gateway between the Mainland and the rest of the world. That very much includes our role as both a conduit for foreign capital investing in the Mainland and the springboard for Mainland companies looking to international markets.”

As the Hong Kong Special Administrative Region Government is working to expand the flow of capital and people to create new markets and business opportunities in the Guangdong-Hong Kong-Macao Greater Bay Area, Mrs Lam said she has no doubt that the Wealth Management Connect will attract a wealth of international financial institutions given the huge potential investor base in the Greater Bay Area.

Secretary for Financial Services & the Treasury Christopher Hui chaired the plenary session on Reshaping World Economic Landscape.

Mr Hui shared insights on the role of the financial services sector in contributing to the bolstering of economic recovery and the opportunities for financial services in the new economic landscape.

Joining Mr Hui were Minister of Finance of Luxembourg Pierre Gramegna, Asian Infrastructure Investment Bank President and Chairman Jin Liqun, Islamic Development Bank President Bandar M H Hajjar, New Development Bank President Marcos Troyjo, European Investment Bank Vice-President Prof Teresa Czerwińska and Minister of State at the Department of Finance of Ireland Sean Fleming.

Also among the highlights of the first day was the keynote speech delivered by 2018 Nobel Laureate for Economic Sciences Prof Paul Romer. He analysed the current state of the global economy and posited the path towards a new and sustainable growth engine.

The Fintech Showcase, FintechHK Start-up Salon and InnoVenture Salon were set up in a virtual format this year.

The forum also comprises the Deal Flow Matchmaking Session and Fireside Chat on an online platform for investors and industry players to explore co-operation and exchange ideas in subjects including the circular economy, blockchain and global venture capital.

The Dialogues for Tomorrow series made its debut to survey the impact of the pandemic on and the outlook for various sectors such as banking, insurance and fintech.