A rising variety of mainland Chinese language monetary establishments and worldwide corporations have proven curiosity in establishing regional headquarters in Hong Kong to faucet into rising enterprise alternatives throughout the area, in line with the pinnacle of Citigroup‘s native unit.
Aveline San Pau-len, Citi Hong Kong CEO and head of banking, stated many mainland banks and worldwide monetary establishments would really like Citigroup to assist arrange their headquarters within the metropolis to serve shoppers who needed to increase globally.
“Mainland lenders and Citigroup Hong Kong should not rivals; [rather] we’re companions,” San stated in a current unique interview with the Publish. “We’re the bankers of those mainland banks and monetary establishments, supporting their enterprise growth plans into Hong Kong and abroad markets.”
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She stated Citigroup “has a bodily presence in 94 markets” and that a lot of its “banking and company shoppers would really like us to assist them go world, as we have now the networks and expertise to serve them”.
Many worldwide corporations from the US and different areas favour Hong Kong as a gateway to entry mainland China and the broader Asian market, in line with Citi Hong Kong CEO Aveline San. Photograph: Solar Yeung alt=Many worldwide corporations from the US and different areas favour Hong Kong as a gateway to entry mainland China and the broader Asian market, in line with Citi Hong Kong CEO Aveline San. Photograph: Solar Yeung>
As a world monetary centre, Hong Kong was a really perfect springboard for a lot of mainland monetary establishments, fintechstart-ups and numerous corporations to increase into different markets, in line with San.
Attracting extra mainland and worldwide monetary establishments to arrange regional headquarters in Hong Kong was one of many key measures unveiled by Chief Govt John Lee Ka-chiu in his coverage deal with final month.
At present, 15 of the 29 globally vital banks have regional headquarters within the metropolis, in line with the Hong Kong Financial Authority.
The Hong Kong authorities had launched many measures, like tax advantages, to help mainland corporations in organising company treasury centres within the metropolis. Energetic capital markets within the metropolis additionally allowed these corporations to boost funds by means of shares or bonds, San stated.
Geopolitical stress lately has led many worldwide corporations to diversify their provide chains, manufacturing strains and markets, in line with Tom Chan Pak-lam, the everlasting honorary president of the Institute of Securities Sellers, an business physique. “Hong Kong is a secure haven for these corporations to increase into mainland China or different Asian markets,” Chan stated.
Towards that backdrop, Citigroup’s Hong Kong company shoppers looking for to increase into Latin America or different Asian markets might leverage the group’s models in these areas, as they possessed the native information and networks wanted to help their development, San stated.
Many worldwide corporations from the US and different areas additionally favoured Hong Kong as a gateway to entry the mainland and the broader Asian market, she added.
Aveline San, Citi Hong Kong CEO and head of banking. Photograph: Edmond So alt=Aveline San, Citi Hong Kong CEO and head of banking. Photograph: Edmond So>
After these corporations arrange their regional headquarters in Hong Kong, San identified that the subsequent step could be for his or her house owners to capitalise on town’s wealth administration experience.
“As an alternative of investing in a single asset class or market, our shoppers are more and more in search of worldwide diversification,” she stated.
Earnings earned from the Hong Kong models of mainland corporations may very well be invested internationally by means of capital market platforms in Hong Kong, she stated, noting that town had a variety of shares, bonds and international trade merchandise.
“The numerous measures launched by the Hong Kong authorities lately to draw household workplaces to arrange right here, alongside the numerous measures to advertise new listings and wealth administration companies, [have made] town extra engaging to those rich worldwide and mainland shoppers,” she stated.
Household workplaces are entities established by prosperous households to handle their succession plans, investments and charitable endeavours. Since 2023, the federal government has launched tax advantages, in addition to an funding migration scheme, to draw rich households to arrange their workplaces within the metropolis.
The energetic inventory and bond markets have additionally attracted rich shoppers to speculate right here, San stated. The common each day buying and selling quantity of the inventory market jumped 132 per cent 12 months on 12 months to HK$248.3 billion (US$31.9 billion) within the first eight months of 2025.
Some 66 corporations had raised US$23.27 billion by means of new listings on the trade’s essential board within the first 9 months of this 12 months, in line with information from the London Inventory Alternate Group. The Hong Kong inventory trade is heading in the right direction to regain the preliminary public providing crown this 12 months, a title it final held in 2019 earlier than social unrest and the pandemic took a toll in the marketplace.
The problem forward could be in growing and recruiting expertise, in line with San.
“The federal government has finished so much on training, however there may be at all times extra to do to coach native expertise – in areas comparable to inexperienced finance, fintech, digital property and synthetic intelligence – to serve these corporations and banks,” she stated. “We see alternatives for Hong Kong to cleared the path in fostering an AI-ready workforce.”
