I’ve now almost finished packing my bags for Davos for the second year in a row to attend the World Economic Forum in the famous Swiss ski village. Laura Cha, HKEX Chairman and I are, this year, delighted to also be joined by five other members of HKEX including, for the first time, Matt Chamberlain, the CEO of the London Metal Exchange.
There are always important issues to discuss at Davos, but this year the conversations I think will be more significant than usual. The last two months have been a turbulent time, with globalism increasingly under attack around the world, the continuation of trade frictions that are throwing up barriers to global commerce, and geopolitical headwinds that could lead to more isolationism, nationalism and a more divided world. The good news is that communication, dialogue and the sharing of experiences and ideas can help reverse this trend, and Davos is the perfect forum to begin that process.
Here in Hong Kong, we demonstrated our city’s resiliency as it continued to operate despite some very challenging local and macro conditions. Our stock market continued to show the world that it’s built on strong foundations and continues to attract some of the best companies around the world; in fact, HK$312.9 billion was raised from 183 new listings in 2019, enough to push Hong Kong’s IPO fundraising market into first place worldwide. This coupled with numerous records on our bond markets, in our derivatives platforms, and a raft of new products makes us optimistic for 2020.
That also reflects a strong vote of confidence in Hong Kong’s financial markets and reaffirms our own belief in Hong Kong’s future. Our city has proven time and again that it is capable of reinvention, even thriving when people pull together for a common goal. It’s this message that I will be taking to Davos next week.
This year’s World Economic Forum Annual Meeting will focus on seven key themes such as fairer economies, the future of work, better business, healthcare, and using technology for good. These topics touch each and every one of us, so I would encourage you to catch up on the conversations being had on the World Economic Forum’s website, and also by checking back here to see videos, photos, and articles from an HKEX and Hong Kong perspective, which we will be sharing each day.