Mr Ashley Alder, Chief Executive Officer of the Securities and Futures Commission (SFC), delivered the keynote address at the Deacons 7th Annual Investment Products and Regulatory Forum on 21 May.
In the address, Mr Alder outlined the main factors which are turning Hong Kong into an unrivalled Asian fund management centre. Already, increasing connectivity between the Mainland and Hong Kong financial markets has transformed Hong Kong’s role as an international financial centre and has also affected other key financial markets globally, he noted. The result is that Hong Kong is fast becoming a “super connector” between the Mainland and the rest of the world.
The Mainland’s opening of its capital account has been a key driver of these developments, Mr Alder continued. Connections between Hong Kong and Mainland markets have multiplied over the past two decades, but since 2011 the pace of change has accelerated significantly. Most recently, the Stock Connect pilot programme and the imminent Mutual Recognition of Funds (MRF) scheme are real game changers for the fund industry.
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