The China International Finance Forum · Hong Kong Summit was held on November 6, 2025, in Hong Kong, under the theme "The New Financial Ecosystem in a Changing World: Openness, Innovation, and Sustainability." Hedwig Norens, President of the International Banking Federation, delivered a video keynote address.

Below is the transcript of her speech:

Ladies and gentlemen, esteemed colleagues, and distinguished guests: Today, I am honored to address you at the China International Finance Forum · Hong Kong Summit. As President of the International Banking Federation, I represent a global network of banks committed to building a resilient and sustainable financial ecosystem. My focus today is on how openness, innovation, and sustainability can guide us in navigating this rapidly evolving world.

1. **The Evolution of the Financial Landscape** We are witnessing a rapid transformation in finance, driven by digitalization, shifting customer demands, and the urgent need for sustainable practices. The COVID-19 pandemic accelerated these changes, underscoring the importance of agility and adaptability. Moreover, the world is transitioning from a post-war era of globalization to a multipolar order. This shift presents challenges but also opportunities for traditional banking models—banks must evolve to meet the diverse needs of clients, regulators, and other stakeholders.

2. **The Value of Trade Relationships** For many nations, trade has been a vital engine of economic and social progress, fostering wealth creation and improved living standards. In this new multipolar landscape, we must collaborate to maintain open trade channels and ensure the financial systems supporting trade remain robust and adaptable to global economic shifts.

3. **Openness in the Financial Ecosystem** Openness is key to addressing today’s ecosystem. The banking sector must dismantle internal silos and engage in cross-industry collaboration with fintech and tech giants like Alphabet, Meta Platforms, Inc., and Microsoft. Through knowledge-sharing and resource integration, innovations like open banking can enhance customer experiences and deliver more tailored services.

4. **Innovation as a Driving Force** Innovation is the cornerstone of a resilient financial ecosystem. Technologies such as AI, blockchain, and sustainable finance hold promise for boosting operational efficiency and transparency. However, innovation must be grounded in strong ethical frameworks, prioritizing privacy, security, and inclusivity to ensure technological advancements benefit all members of society.

5. **Commitment to Sustainability** Sustainability is now a non-negotiable for finance. Banks play a pivotal role in addressing climate change and social inequality. By aligning strategies with the UN Sustainable Development Goals, we can direct capital toward environmental governance and socially responsible projects. Green investments will generate long-term value for institutions and their stakeholders.

In summary, the new financial ecosystem demands global collaboration. Openness, innovation, and sustainability will steer us toward a more resilient and equitable future. Let us work together to build a financial system capable of overcoming current challenges and paving the way for generations to come.

Wishing the Hong Kong Summit a resounding success! Thank you.