chief executive of Hong Kong Exchanges and Clearing

Hong Kong was just a regional financial center 20 years ago. It has now become a major international financial center, attracting global capital to invest in Chinese mainland assets. Hong Kong has undergone big changes, especially in the past 10 years. The city has attracted a huge amount of funds from the Chinese mainland and is the first choice of mainland entrepreneurs looking for an overseas financing center.

Hong Kong will emerge as the country's global wealth management center, leading offshore risk management center and global asset pricing center in two decades. The key point is to adhere to "one country, two systems".

In the coming two decades, Hong Kong will play a major role in the Chinese mainland's process of reform and opening-up. Besides attracting capital from the mainland, it will help to allocate assets for mainland enterprises and investors.

Since the start of the country's reform and opening-up, Hong Kong has made major accomplishments in three areas - entrepot trade, direct investments and the development of capital markets.

The mainland's capital allocation will become more global in 20 years, and Hong Kong will help mainland people allocate their assets worldwide in future. The Shenzhen-Hong Kong Stock Connect and the Shanghai-Hong Kong Stock Connect offer such channels. It will make capital flow more transparent and in a good order. In approving the Bond Connect, the Hong Kong stock exchange is considering introducing Exchange Traded Funds, new shares and commodities to the system.

Henry Tang Ying-yen