The officials are soliciting views from the city’s three note-issuing banks and foreign bankers on how Hong Kong can increase its competitiveness as a financial centre, sources say.
Standard Chartered Bank, one of the note-issuing bank in the city, reported a 40 per cent increase in the number of customers buying ESG (environmental, social and governance) funds in the first 10 months of this year, in signs of growing public interest in fund products that help solve pollution and climate change.
The firm plans to launch mutual funds targeting different asset classes in mainland China to tap the world’s second-largest asset-management market, which is expected to grow to US$40 trillion by 2030.
HSBC is on track to meet a target of expanding its China wealth business headcount to 3,000 by 2025, despite the country s current economic headwinds, as it bets on a steadily rising number of the.
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