As the 18th Asian Financial Forum (AFF) kicks off today in Hong Kong, the spotlight once again turns to the city’s enduring role as a global financial hub. Set against a backdrop of geopolitical tensions, economic uncertainty and accelerating technological change, this year’s forum — themed “Powering the Next Growth Engine” — seeks to offer fresh perspectives on growth and innovation in a rapidly evolving global landscape.
Co-organized by the Hong Kong Special Administrative Region government and the Hong Kong Trade Development Council, AFF 2025 is being held at the Hong Kong Convention and Exhibition Centre today and Tuesday. It is widely regarded as the region’s first major international finance and business event of the year, attracting a diverse audience of policymakers, investors, entrepreneurs, financial experts and tech leaders from around the world. Beyond being a showcase for Hong Kong’s financial prowess, the forum serves as a vital platform for collaboration and dialogue, addressing both challenges and opportunities shaping the global economy.
The thematic focus on “Powering the Next Growth Engine” couldn’t be timelier. With traditional growth engines losing momentum amid rising global uncertainties, attention has shifted toward emerging markets such as the Chinese mainland, Association of Southeast Asian Nations and the Middle East. These regions offer promising opportunities for economic expansion, driven by technological advancements and evolving business models. Key sessions, such as “Global Economic Outlook”, “China Opportunities” and “CIO Insights”, will delve into these themes, highlighting strategies for sustainable growth and cross-regional cooperation.
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Among the headline speakers are several prominent figures whose insights are expected to set the tone for the forum. Justin Lin Yifu, former chief economist and senior vice-president of the World Bank, will deliver a keynote speech on the shifting dynamics of the global economy and strategies for achieving stable growth amid a complex international environment. Stuart Russell, a leading AI expert and co-chair of the World Economic Forum’s council on AI, will discuss the transformative potential of artificial intelligence across industries. Meanwhile, Dr Kai-Fu Lee, chairman of Sinovation Ventures, and Joe Tsai, chairman of Alibaba Group, will share their perspectives on innovation, investment and the future of technology-driven businesses.
In addition to its thought-provoking discussions, AFF 2025 is distinguished by its emphasis on fostering practical collaboration through dedicated platforms such as the Fintech Showcase, InnoVenture Salon, and Deal Flow Matchmaking sessions. These initiatives are designed to connect startups, financial institutions and investors, facilitating partnerships that can drive innovation and growth. The InnoVenture Salon, in particular, will feature a range of activities, including pitch presentations, advisory consultations and exhibitions showcasing cutting-edge technologies in sectors such as regtech (regulatory technology), health tech, green tech, and food/agri-tech. By creating opportunities for emerging businesses to engage with potential investors and partners, the AFF aims to catalyze new waves of entrepreneurial success and industry development.
The significance of this year’s forum extends beyond its agenda. It underscores Hong Kong’s commitment to strengthening its status as a leading international financial center. Despite the challenges posed by global market volatility and regional competition, Hong Kong continues to leverage its unique position as a bridge between East and West. The city’s robust financial infrastructure, regulatory framework and deep talent pool make it an ideal location for hosting a high-caliber event like the AFF. Furthermore, with the increasing integration of the Guangdong-Hong Kong-Macao Greater Bay Area, Hong Kong is well-placed to benefit from synergies with the Chinese mainland, reinforcing its role as a gateway for international investors seeking access to the mainland market.
However, the forum is not without its critics. Some commentators question whether such high-profile events deliver tangible outcomes beyond media buzz and networking opportunities. While AFF has indeed facilitated numerous investment deals and partnerships in the past, skeptics argue that more-concrete measures are needed to ensure that these collaborations translate into long-term economic benefits. Moreover, as global competition for financial leadership intensifies, Hong Kong must continuously innovate to stay ahead of competitors.
That said, the success of past editions of the AFF speaks to its enduring relevance. Last year’s forum, for instance, facilitated over 700 business meetings, connecting more than 480 project owners with 270 investors. These engagements spanned a broad range of sectors, including fintech, green technology, healthcare, infrastructure and real estate. Such outcomes highlight the AFF’s role — it’s a genuine catalyst for investment and industry collaboration, rather than a “talking shop” as some have suggested.
Looking ahead, the future of the AFF and similar events hinges on their ability to adapt to shifting economic and technological landscapes. In a world increasingly driven by digital transformation, sustainability and cross-border collaboration, forums like the AFF must evolve to remain relevant. The inclusion of sessions on AI, sustainability and family offices this year is a step in the right direction, reflecting the growing importance of these themes in global finance and investment.
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Ultimately, the success of AFF 2025 will be measured not just by the number of attendees or high-profile speakers but by its ability to generate actionable insights and foster meaningful partnerships. As the world grapples with mounting economic and geopolitical uncertainties, platforms like AFF offer a rare opportunity for leaders across sectors to come together, share ideas and explore solutions that can drive sustainable growth.
For Hong Kong, the stakes are high. As it seeks to cement its position as a leading international financial center in an increasingly competitive landscape, events like the AFF serve as both a showcase of its strengths and a reminder of the challenges ahead. If AFF 2025 can deliver on its promise of “powering the next growth engine”, it will not only bolster Hong Kong’s reputation but also contribute to shaping the future of global finance.
The author is chairman of the Asia MarTech Society and sits on the advisory boards of several professional organizations, including two universities.
The views do not necessarily reflect those of China Daily.
