Hong Kong’s reputation as a dynamic international hub is reflected throughout The Banker’s global asset management survey in comments made by its respondents. One Paris-based chief investment officer says: “Hong Kong is essentially a Westernised city in an emerging region, offering us easy access into Asia.” Add to this the steady stream of international public offerings (IPOs) from China and beyond and massive investor demand for yuan-denominated Dim Sum bonds following the gradual opening up China’s currency to foreigners, and Hong Kong has become a magnet for fund managers keen to participate in Asian economic growth.
Simon Galpin, Invest HK’s director-general of investment promotion, has several explanations for the Asian hub’s ascendancy as a global financial centre. He says: “Investors are clearly looking to Asia for growth in the current global economic environment and Hong Kong is at the centre [of this region]. It has the advantage of being part of China. It also has a vibrant press – so it is a good place to gather information across the region. Plus, taxes are low. This all makes it a dynamic city and one that is remarkably well plugged in to London and New York.”
