Hong Kong Financial Hub Retains Beijing Support, Says Chan

Hong Kong remains firmly supported by mainland Chinese authorities as an international financial centre despite recent regulatory actions targeting illicit overseas investment channels, Financial Secretary Paul Chan said.

Speaking at Bloomberg Invest in Hong Kong, Chan emphasised that the Hong Kong financial hub continues to play a critical role in connecting mainland and international capital markets.

Chan said cross-border capital flows should move through legitimate and transparent channels to address concerns over foreign-exchange leakage while preserving investor confidence.

His comments followed Beijing’s enforcement action against three brokers that facilitated overseas investments for mainland residents, a move that could affect up to HKD250bn (USD32bn) in Hong Kong-linked assets, according to estimates from Citic Securities.

Despite market concerns, Chan stressed that Chinese authorities remain committed to supporting the Hong Kong financial hub and recognise its strategic role in facilitating international investment and capital allocation.

The remarks underscore ongoing efforts to balance financial stability, regulatory oversight and Hong Kong’s role as a global wealth-management centre.