"Hong Kong's Future as an International Financial Centre"
A Speech by
Mr. David K.P. Li,
Director and Chief Executive, The Bank of East Asia, Limited
At the
"Hong Kong - Into the 21st Century" Conference Organized by Smith New Court plc Claridges Hotel, London
Monday, 16th September 1991
Distinguished Guests, Ladies and Gentlemen,
It is а great pleasure for me to participate in this Conference and to have an opportunity to discuss with you Hong Kong's future as an international financial centre.
Obviously, as a banker from Hong Kong, this is a topic I have spent much time thinking about. I have had to ask myself some tough questions. Are the doomsayers correct? Does Asia's financial future really lie with Tokyo or Singapore? Should my Bank hedge its exposure and buy a bank in Singapore, Australia or North America? Should we move our domicile offshore?
I do not know how much you know about my Bank.
But if you know anything, you will know that we have answered "no" to each one of these questions.
Quite the contrary, we are increasing our investment in Hong Kong. We are strengthening our base there. We are expanding our operations in China. Yes, we are also going overseas, but it is mainly with the aim of enlarging our catchment area for business tied to Hong Kong and China.
The Bank of East Asia views Hong Kong's future with great optimism. And in the next few minutes, I will tell you why we are bullish. I will also explain why Hong Kong will remain the financial capital of Asia.
Smith New Court plc Conference