On September 17th, CSC held its 2025 Global Investor Conference in Hong Kong. Mr. Liu Cheng, Chairman of CSC, delivered an address sharing three areas of "great potential." First, Hong Kong's financial market has great potential. Hong Kong's position as a global financial center is not only irreplaceable but has been consolidated and deepened under new circumstances. Second, Chinese securities firms in Hong Kong have great potential. Chinese securities companies have evolved from "participants" to "main forces" in the Hong Kong market, from facilitating the return of Chinese concept stocks and supporting Hong Kong IPOs to serving the global expansion of "Chinese companies going overseas." Chinese securities firms are using Hong Kong as a strategic pivot to contribute to the development of Hong Kong's financial market. Third, CSC's "going overseas" initiative has great potential, positioning international expansion as an important strategic direction, actively strengthening Hong Kong operations, and deepening international market presence.
Distinguished guests, ladies and gentlemen:
First, I welcome everyone to CSC's 2025 Global Investor Conference.
As waves surge in the bay and winds fill our sails, today hundreds of investors and experts from nearly 20 countries have gathered here to explore investment opportunities amid global economic changes and witness the financial vitality of Hong Kong. On behalf of CSC, I extend heartfelt thanks for your support and attendance! Today, I particularly want to share some thoughts with you, summarized in three statements about "great potential":
First, Hong Kong's financial market has great potential.
Currently, the international situation faces unprecedented changes unseen in a century, with rising trade protectionism, escalating geopolitical tensions, and intensifying technological competition. This has profoundly changed and will continue to reshape the global political and economic landscape. However, relying on mainland China's solid full industrial chain advantages and breakthroughs in cutting-edge technology fields, as well as Hong Kong's own robust legal system and globalized business environment, Hong Kong's position as a global financial center is not only irreplaceable but has been consolidated and deepened under new circumstances.
Catalyzed by policy support and technological breakthroughs, Hong Kong's capital market has demonstrated an upward trajectory from last year to now. In the first half of this year, Hong Kong's IPO fundraising ranked first globally, and the Hang Seng Index showed strong growth momentum, reflecting Hong Kong's powerful strength and vitality as an international financial center. According to data published by the Securities and Futures Commission of Hong Kong, benefiting from strong capital inflows, financial innovation, and a continuously expanding talent pool, Hong Kong's influence as an international asset and wealth management hub is steadily rising. Hong Kong's total assets under management grew 13% in 2024, with net capital inflows surging 81%. In this period of global economic growth pressure and numerous obstacles to international cooperation, Hong Kong's financial market has shown renewed brilliance, which is truly remarkable. Looking ahead, Hong Kong has enormous potential to tap by strengthening connections between the mainland and the world, consolidating and enhancing its unique role as a "super connector" and "super value-adder." We believe this unique advantage and role is difficult to replicate, and Hong Kong's financial market position and function will be further strengthened under new circumstances.
Second, Chinese securities firms in Hong Kong have great potential.
Leveraging the unique advantage of "backing the motherland and connecting the world," Chinese securities companies have evolved from "participants" to "main forces" in the Hong Kong market. With deep understanding of mainland policies and industrial logic, precise grasp of Hong Kong market rules, and accurate matching of bidirectional investment needs, Chinese securities firms continue to make efforts in cross-border investment and financing, wealth management, investment banking, and other fields. From facilitating the return of Chinese concept stocks and supporting Hong Kong IPOs to serving the global expansion of "Chinese companies going overseas," Chinese securities firms are using Hong Kong as a strategic pivot to leverage deep integration between mainland and international markets, writing a new chapter of "Chinese strength" on Hong Kong's financial stage and contributing to Hong Kong's financial market development.
Chinese securities firms in Hong Kong can fully leverage Hong Kong's leading influence and comprehensive competitiveness in finance under the institutional advantages of "One Country, Two Systems" and continuously improving financial market connectivity mechanisms. Adhering to the principle of "customer-centricity," enriching product offerings across business lines, meeting customers' diversified asset management needs, and adopting a buy-side mindset and asset allocation orientation to assist customers with medium and long-term wealth allocation and broaden channels for property income. Chinese securities firms should leverage capital market expertise to serve real economy development, particularly strengthening resource allocation and financial support for major strategies and key areas such as technological innovation, green industries, and private enterprises, promoting a virtuous cycle of "technology-industry-finance" and injecting more financial resources for accelerated development of new productive forces.
Third, CSC's "going overseas" initiative has great potential.
As a Chinese securities firm with a wholly-owned subsidiary in Hong Kong, CSC actively connects global capital for excellent domestic and international clients on this financially active and innovation-rich fertile ground, helping international investors discover the value of Chinese assets as an important mission. This is also the starting and ending point of our hosting this investor conference in Hong Kong.
2025 marks the 20th anniversary of CSC's establishment. We have always adhered to implementing national strategies and serving high-quality real economy development as our responsibility, closely grasping development opportunities in global capital markets, and helping clients achieve steady progress with efficient and professional comprehensive financial services. CSC's "going overseas" journey began in 2012 with the establishment of wholly-owned subsidiary CSC International in Hong Kong, spanning thirteen years to date. Currently, CSC International has comprehensive full-license business coverage including securities brokerage, investment banking, fixed income, derivatives trading, asset management, research, and insurance brokerage. Investment banking business has successfully completed landmark Hong Kong IPO projects including CATL, Luk Fook Jewellery, and Horizon Robotics; fixed income business has flourished across multiple areas, with proprietary investment scale continuously expanding, asset returns exceeding market indices, successful implementation of HKEX RMB foreign exchange futures bilateral market-making business, obtaining Bond Connect "Southbound Trading" investor qualification and completing first transactions; brokerage business rankings reached historic highs with cross-border wealth management connect continuing strong performance; derivatives business product portfolio increasingly enriched, successfully launching Singapore Exchange iron ore futures liquidity provision services.
Facing turbulence in international financial markets, CSC remains anchored to the goal of "building a world-class investment bank," positioning international expansion as an important strategic direction, actively strengthening Hong Kong operations, and deepening international market presence. We actively follow client needs to "go out" and facilitate high-quality international capital to "come in." Focusing on domestic clients' overseas investment and financing needs, following clients overseas, deepening internationalization through serving clients' overseas investment, financing, and asset allocation practices; serving international clients' "invest in China" needs, bringing quality international capital "in," serving as professional connectors to the world in the wave of foreign "investment in China." Meanwhile, we fully leverage cross-border comprehensive financial service advantages, deeply participating in capital market connectivity along "Belt and Road" initiative routes, striving to become a strategic bridge connecting China with Middle East, Southeast Asia, and other overseas markets.
Distinguished guests, the 2025 Global Investor Conference is an important milestone in CSC's international development. Thank you for witnessing and participating. We look forward to hearing your insights at this important moment and hope to use this forum as an opportunity to build a platform for sharing insights. We hope today's participating investors and experts can establish connections with each other based on openness, cooperation, and win-win principles, deepen exchanges and cooperation, and jointly discuss, build, and share the fruitful results of China's high-quality economic development. As long as we work together, we can certainly promote unlimited possibilities in global capital markets, write new chapters of win-win cooperation, and embrace a new era of global capital markets together!
Finally, I wish this investor conference complete success! Thank you all!