Amidst all the developments in financial markets, the thing of international financial centres competing with each other remains on the sidelines but is an exciting area.
Mr Norman T L Chan of HKMA discusses how HK’s international financial centre is shaping as a risk management hub:
About 15 years ago, a senior banker suggested to me that, in order to further promote Hong Kong’s position as an international financial centre (IFC), we should turn Hong Kong into a “risk management hub” in Asia. However, he did not elaborate further at the time on exactly what he meant and how this could be achieved. To be honest, it was not clear to me then what this risk management hub idea was all about.
Now looking back, I realise that, even without us consciously pursuing the idea as a policy