At the annual distinguished speaker luncheon held on September 4, Hong Kong banking industry leaders gathered to discuss the evolving financial environment. Bank of China (Hong Kong) Ltd (02388.HK) Vice Chairman and Chief Executive Sun Yu, who also serves as Chairman of the Hong Kong Association of Banks, highlighted 2026 as a pivotal year for the sector.

Global financial dynamics are undergoing significant transformation, with international investors increasingly recognizing Hong Kong's enduring strengths of stability, connectivity, and unwavering national support. This growing investor confidence has propelled the city past Switzerland to become the world's largest cross-border wealth management center. Additionally, Hong Kong continues to strengthen its position as a premier financial hub through initiatives including the development of a gold settlement system and the introduction of five-year government bond futures.

Mr. Sun emphasized the banking association's steadfast commitment to supporting the real economy, particularly through platforms such as the Northern Metropolis Financial Advisory Task Force and SME transformation forums. The association has also demonstrated social responsibility through anti-fraud education campaigns and timely assistance provided to those affected by the Tai Po fire incident, coordinating with government relief efforts.

Looking ahead, Mr. Sun noted that Hong Kong is entering a period of unprecedented transformation where conventional approaches no longer apply. Despite heightened geopolitical tensions this year, prices have declined rather than risen, challenging traditional market wisdom. This suggests that even traders who accurately predict crises may still incur losses. In such an uncertain world, the optimal strategy involves maintaining focus, strengthening competitive advantages, and proactively shaping the future.

With Hong Kong's first five-year development plan set for release, Mr. Sun announced that the Hong Kong Association of Banks, in collaboration with accounting firm Deloitte, will publish the "Hong Kong Banking 2030" report on September 11. The report will offer recommendations for advancing the banking industry and supporting Hong Kong's efforts to reinforce its status as an international financial center.