In a recent briefing, Chief Executive John Lee addressed concerns over challenges to Hong Kong’s legal system from external forces, criticizing attempts to pressure judicial officials with sanctions. Lee defended the city’s judicial decisions as open and honorable amid criticisms from departing British judge Jonathan Sumption, who accused Hong Kong of veering towards a totalitarian state.
Despite these challenges, Lee highlighted Hong Kong’s status as an international financial center, boasting a robust financial infrastructure that includes a vibrant insurance industry and an active bond market. However, he acknowledged the impact of international politics on the city’s financial stability, with some investors withdrawing funds for political reasons.
Lee urged investors to consider long-term opportunities in Hong Kong, emphasizing the city’s connectivity with both the mainland and the global market. Secretary for Financial Services and the Treasury Christopher Hui Ching-yu echoed this sentiment, emphasizing the city’s commitment to developing financial services in line with global trends and expanding connectivity with the mainland.