China's vice premier vows to boost Hong Kong's financial competitiveness, says stimulus push has 'benefited' the city

In a speech at the Global Financial Leaders Investment Summit, Chinese Vice Premier He Lifeng pledged to enhance Hong Kong’s competitiveness through investments in innovation and strengthened financial policies, with Beijing committing to measures to establish the city as an international financial center. He noted that Beijing’s stimulus efforts have already benefited Hong Kong, leading to a more certain economic outlook. Following He’s address, top Chinese financial officials are set to discuss mainland China’s financial developments, as global banks have scaled back operations in Hong Kong amid a slowdown in deal-making activities, although signs of improvement have emerged in the third quarter.

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