Scores of central bankers from around the world will gather in Hong Kong next month for a meeting to be hosted by the Bank for International Settlements (BIS), marking the first major international financial event since the city fully reopened its border in December.
The Hong Kong Monetary Authority is getting ready for the Basel Committee on Banking Supervision meeting to be held in March, Clara Chan, acting deputy chief of the de facto central bank, told lawmakers.
“We have been preparing for the meeting of central bankers, international financial regulators and the global financial leaders. We encourage more international financial organisations to host events and seminars in Hong Kong,” Chan said during a monthly meeting of the financial affairs panel on Monday.
“The HKMA will also work with the local financial sector to visit Southeast Asia and the Middle East to exchange views with the central banks and other financial leaders this year to enhance cross-border cooperation.”
The authority is keen to use overseas roadshows to convince central banks and finance companies that it is “business as usual” in Hong Kong after three years of disruptions caused by the pandemic. The city’s reputation as a leading financial hub suffered as some of the world’s toughest restrictions prevented business travel and brought the economy to its knees.
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Hong Kong’s financial summit ends on an upbeat note as city heads ‘back to business’
Hong Kong’s financial summit ends on an upbeat note as city heads ‘back to business’
The Basel Committee on Banking Supervision is a global standard setter for the regulation of banks and provides a forum for regular cooperation on supervisory matters. Its 45 members comprise central banks and bank supervisors from 28 jurisdictions, according to the website of the BIS.
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