Hong Kong Financial Services Did Pretty Good in 2019: Lau

The video discusses the financial services sector in Hong Kong during 2019, highlighting its resilience despite economic contraction and unrest. It covers the impact on banks, IPOs, and the reasons behind Chinese companies relisting in Hong Kong. Updates on Primary and ETF Connect initiatives are provided, along with insights into the Macau Stock Exchange and economic challenges. The video concludes with Hong Kong's focus on fintech and innovation, emphasizing collaboration with Shenzhen.

What was the performance of the financial services industry in Hong Kong during 2019?

• It experienced a major downturn in all sectors.

• It was unaffected by the economic contraction.

• It remained stable with strong IPO performance.

• It faced significant challenges and declined.

How did the unrest in Hong Kong affect bank staff movements?

• All banks stopped hiring new staff.

• There was a large outflow of staff.

• Staff movements were stable with few exceptions.

• Many banks relocated their headquarters.

Why are Chinese companies considering relisting in Hong Kong?

• Due to lower listing fees.

• For better access by mainland investors.

• To escape economic instability in China.

• To avoid US regulations.

What is the status of the ETF connect initiative?

• Discussions are ongoing with mainland authorities.

• It has been fully implemented.

• It is only available for local investors.

• It has been canceled.

What impact did the delayed tax bills have on the government's cash flow?

• No impact at all.

• Complete disruption of government operations.

• Significant long-term financial issues.

• Some impact, but within the financial year.

What are the two clusters Hong Kong is focusing on in the science park?

• Fintech and real estate.

• Tourism and hospitality.

• Artificial intelligence and biotech.

• Manufacturing and agriculture.

How is Hong Kong collaborating with Shenzhen?

• Through joint tourism projects.

• By developing a shared stock exchange.

• In innovation and technology.

• By merging financial institutions.