Financial professionals flock to Hong Kong as its hub status shines

The Hong Kong Special Administrative Region (HKSAR), as an international financial hub, saw its licensed finance jobs hit a record in October. Experts noted on Tuesday that Hong Kong's financial sector is brimming with potential and is poised to capture growing attention from global investors.

Over the past four months, Hong Kong saw a net increase of about 830 licensed financial professionals, driving the number to almost 42,000 in October. That's the most since the registration system started in 2003, Bloomberg reported on Tuesday.

It is recovering after a talent drain, the report said.

In recent years, the HKSAR government has introduced multiple preferential visa policies to attract financial talent. As an international financial center, Hong Kong has also drawn significant global investment and seen numerous financial institutions set up offices, driving the growth of related job opportunities, Liang Haiming, chairman of Hong Kong-based China Silk Road iValley Research Institute, told the Global Times on Tuesday.

Hong Kong Financial Secretary Paul Chan Mo-po mentioned in his August 11 blog post that, since the end of 2022, more than 340,000 applications have been received across various talent programs, with 210,000 approved and more than 140,000 applicants having arrived in Hong Kong.

A thriving industry and dynamic ecosystem has been a key factor in attracting top-tier professionals. In turn, the influx of high-caliber talent has further spurred industry development and innovation, creating a positive cycle of growth and advancement, Chan said.

Hong Kong ranked third globally in the Global Financial Centres Index 36 Report jointly published by the UK-based commercial think-tank Z/Yen and the Shenzhen-based China Development Institute on September 24, moving up one place from the March edition of the index. Hong Kong ranked first in the Asia-Pacific region.

Hong Kong's scores were rated among the top in various areas of competitiveness, including the "business environment", "human capital", "infrastructure" and "reputational and general", read a statement of the HKSAR government.

Hong Kong continues to serve as a bridge from China to global markets, attracting investors and financial institutions from around the world, Liang said.

With the rapid growth of fintech, Hong Kong is actively promoting digital transformation, and supporting innovative enterprises and technological applications, while the development of the Guangdong-Hong Kong-Macao Greater Bay Area presents new growth opportunities, fostering regional financial cooperation and resource sharing, Liang noted.

As global attention to sustainability intensifies, Hong Kong is also accelerating its investment and development in green finance.

Over the past three years, Hong Kong entities have issued an annual average of more than $63 billion in green bonds and other forms of green debt. As of June this year, more than 230 environmental, social, and governance funds had been recognized by the Hong Kong Securities and Futures Commission, managing assets exceeding $160 billion - a rise of 60 percent from three years before, Chan said at a forum in October.

The future of Hong Kong's financial sector remains full of potential. It will continue to leverage its strengths, maintaining flexibility and an innovative spirit to meet the challenges ahead, Liang added.