This year’s World Economy Forum (WEF) meeting has a special meaning given the two-year hiatus caused by Covid-19. At HKEX, we are proud to be a global superconnector, and as such, it feels particularly special to connect with friends from across the world in person this year.
As we look ahead, it is increasingly evident that there are incredible opportunities emerging in Asia and Hong Kong has a unique role to play in fostering these opportunities.
Taking a step back, the axis of the world economy has increasingly shifted towards Asia in recent years, with the region’s share of global GDP growing to 42% in 2021 on the back of relocating manufacturing hubs, innovation across commerce and rising foreign investment.
Similarly, Asia’s capital markets have grown significantly, reaching a total market capitalisation of US$39 trillion at the end of 2021. This growth has been especially strong since the Global Financial Crisis of 2008, when international investors have increasingly shifted their focus to emerging markets and the East for opportunities.
In recent years, Asia has showed its economic resilience amid COVID-19, with green shoots of post-pandemic recovery appearing across the region, ahead of much of the rest of the world. While the pandemic is not yet over, we remain excited about the opportunities emerging, and as many before me have forecast I believe ‘the century ahead belongs to Asia’.