Saturday, 19 October 2024
Hang Seng supports 2024 policy to strengthen Hong Kong’s financial hub
Hang Seng Bank welcomes the 2024 Policy Address, delivered by the chief executive of the Hong Kong Special Administrative Region.
As Hong Kong’s largest local bank, Hang Seng fully supports the government’s initiatives to enhance the city’s position as an International Financial Centre (IFC). These initiatives align closely with the bank’s efforts to help customers capture new business opportunities and navigate future challenges.
Diana Cesar, executive director and chief executive at Hang Seng Bank, said: “The latest Policy Address sets a clear direction for keeping Hong Kong competitive on the global stage. By focusing on attracting overseas investment, promoting IPOs, advancing fintech, cross-boundary collaboration, and strengthening financial infrastructure, the government is creating the right environment for sustainable growth. As Hong Kong’s largest local bank, we are well-placed to support these initiatives, leveraging our extensive banking expertise and strong community ties to deliver innovative solutions that meet the evolving needs of businesses and residents.”
In alignment with the government’s vision, Hang Seng fully supports the enhancement of Hong Kong’s role as a leading offshore Renminbi (RMB) hub. With the bank’s extensive experience in RMB services, it is well-positioned to offer comprehensive solutions for businesses engaged in cross-boundary trade under the new initiatives.
Supporting small and medium-sized enterprises (SMEs) remains a key priority for Hang Seng. In step with government policies, the bank provides a range of tailored financial solutions to help SMEs tackle challenges and seize new opportunities, particularly in areas such as digital transformation and sustainability. The HKD 33 billion ($4.2 billion) SME power-up fund and HKD 80 billion ($10.2 billion) sustainability power-up funds are designed to align with the government’s efforts to promote financial flexibility and long-term growth for SMEs.
As a core pillar of Hong Kong’s financial sector, Hang Seng will continue to work alongside the government and the wider business community to ensure these initiatives drive innovation, strengthen the city’s financial infrastructure, and reinforce Hong Kong’s position as a leading global financial hub.
Re-disseminated by The Asian Banker
