The Zhitong Finance App learned that Hong Kong's Financial Secretary Chen Maobo said while attending the Hong Kong Finance and Finance Bureau Regional Regulatory Forum that under global geopolitical uncertainty, enterprises are accelerating diversification of supply chains and diversification of investments. At the same time, regional economic ties are becoming increasingly close, and demand for cross-border trustworthy financial information has risen sharply. Developments in trade, technology and green transformation, while creating opportunities, are also putting forward new requirements for trust and accountability. Hong Kong is at the cutting edge.
Chen Maobo pointed out that diversification and openness mean more financing and cross-border investment flows. In the first 10 months of this year, 121 IPOs were listed in Hong Kong, raising more than HK$400 billion, an increase of 40% over the full year of last year. About 60% of the new issuers have international business operations, and some have clearly used the proceeds from the listing for overseas expansion in their prospectuses, and more international companies from Southeast Asia, the Middle East and Central Asia have chosen to list or issue bonds in Hong Kong.
Chen Maobo quoted Hong Kong Finance Bureau research as saying that out of the five largest accounting firms, four have already begun implementing AI capabilities. He cautioned that AI can efficiently undertake routine tasks, but its limitations and effectiveness based on assumptions require professional judgment and strict scrutiny, as well as the risk of AI falsification of documents. He believes the industry must find ways to perform its duties, improve management and employee skills, and put forward three priorities, including putting integrity at the core of work and never compromising on quality and integrity. Second, it is necessary not only to establish AI skills, but also to become “AI natives” (AI natives). Businesses will value those who can use AI to help transform or reshape business models.
He added that the industry should continue to invest in people. AI may reduce some of the daily work, but firms still need to provide young professionals with the necessary training and experience to train professionals who have both technological and business understanding, can make sound judgments, stick to integrity, and cooperate effectively across markets and cultures.