On November 11, the Hong Kong Financial Services Development Council published a research report entitled “Strengthening Hong Kong's Position as an International Asset and Wealth Management Hub: Attracting Patient Capital”. The report puts forward core policy recommendations for attracting, guiding and nurturing long-term “patient capital” from international institutions, the Mainland and Hong Kong capital pools, with the aim of strengthening Hong Kong's position as Asia's leading international asset and wealth management hub. The report suggests studying the inclusion of mainland pension funds in the “Southbound Link” of the Bond Connect; studying the inclusion of target-date funds, long-term funds, and environmental, social and governance funds in the mutual recognition arrangement between cross-border financial links and funds; and promoting “Insurance Connect” as a bridge for regulated cross-border financial connectivity.

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