Nicolas Aguzin, CEO of HKEX: What Is The Future of Hong Kong's Financial Industry?
/On the 15th July 2021, the Finance Mandarin team joined the “Hong Kong: Financing Asia’s Growth” forum held by Asia Society Hong Kong. The VIP speaker for the event was Nicolas Aguzin, the CEO of HKEX, and moderated by Ronnie Chan, the Chairman of Hang Lung Group Limited.
Asia Society Hong Kong Center organised Finance Asia’s Growth today, with Nicolas Aguzin, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited (HKEX) as the speaker.
The Future "Big Bang" in Finance
Mr. Aguzin emphasized that there will be a “big bang” in finance for Hong Kong in the next 10 years. Hong Kong’s capital market is expected to grow to over US$100 trillion and will be the biggest value creation and movement of money that humanity has ever seen.
“The best years of Hong Kong are ahead of us”, stated Aguzin.
The relationship between Hong Kong and China
The greater the Shenzhen and Shanghai do, the greater the Hong Kong performs. Hong Kong’s prospect is closely related to the development of Shenzhen and Shanghai. Mr. Aguzin stated that Hong Kong must work closely together to create vibrancy in the market to bring fortune and prosperity to the people.
What can Hong Kong do to continue to strive in the future?
Mr. Aguzin commented that the HKEX needs to continuously look for areas of improvement. He shared an example of the black storm signal that was hoisted a few weeks ago, which caused the market's suspension. The lack of volatility needs to be addressed since work-from-home has already been a trend ever since the pandemic started. HKEX will look for solutions to tackle its vulnerabilities such as undisrupted operation under unforeseeable bad weather.
In general, Mr. Aguzin had high expectations and optimism about Hong Kong’s future development. He emphasized that there is a complementary relationship between Hong Kong and China, that the progress of Shenzhen and Shanghai will directly flourish Hong Kong’s wealth. Therefore, he highly encouraged companies to work closely in China to grasp a position to grow their business.
It is mutually believed that there are vast opportunities in mainland China. This further highlights the importance of learning the nation’s language: Mandarin Chinese. Learning the Mandarin language is the most fundamental stepping stone to open doors of opportunities in China. It helps you to understand better the mentality of Chinese people and their business strategies.
“If you talk to a man in a language he understands, that goes to his head. If you talk to him in his own language, that goes to his heart.”
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