This week, Hong Kong is hosting the 18th Asian Financial Forum (AFF), a marquee event jointly organized by the Hong Kong Special Administrative Region government and the Hong Kong Trade Development Council. Themed “Powering the Next Growth Engine”, the forum has brought together over 100 global policymakers, business leaders, financial experts and investors, entrepreneurs, tech giants and economists, attracting an audience of more than 3,600 industry heavyweights. Against a backdrop of global uncertainty, this forum isn’t just another conference — it’s a timely reminder of Hong Kong’s enduring role as a bridge between East and West, a superconnector with the power to forge new opportunities in an increasingly fragmented world.

As the city’s first major financial event of the year, it has become a tradition that the AFF sets the tone for Hong Kong’s business calendar. For global financiers, it’s a chance to connect with key players, seize opportunities, and position themselves ahead of the curve. For Hong Kong, it’s something even more profound: a stage to showcase its unique strengths, tell its story to the world, and reassert its relevance in a competitive global economy.

This year’s lineup delivered on that promise. Among the speakers were Lin Yifu, former chief economist and senior vice-president of the World Bank, AI expert Stuart Russell and other high-profile figures like Kai-Fu Lee, chairman and CEO of Sinovation Ventures, and Joseph Tsai, chairman of Alibaba. Representatives from global powerhouses such as AXA, Citigroup, HSBC, and Lenovo added further weight to the event. Their presence underscores one thing: Hong Kong is not just a financial hub; it remains a place where commerce, innovation, and influence converge.

But the AFF didn’t stop at reinforcing Hong Kong’s longstanding ties with the West. This year, the forum introduced a new session, focusing on the Gulf Cooperation Council (GCC) countries. The session features GCC Secretary-General Jasem Mohamed AlBudaiwi, alongside other Middle Eastern and Hong Kong speakers, with the aim of exploring untapped opportunities between the Gulf and Asia’s financial capital.  

For years, the Middle East has been a blind spot for many Hong Kong businesses, often overshadowed by traditional Western markets. But times are changing. The COVID-19 pandemic shook the global economy, dampening demand in Europe and North America. Meanwhile, the Belt and Road Initiative — a cornerstone of China’s foreign policy — has deepened economic ties between China and the Gulf states. The Middle East, with its wealth and growing appetite for diversification, is no longer a distant market; it’s a frontier of immense potential. This year’s AFF served as a wake-up call for Hong Kong to capitalize on the Gulf’s rising significance.

Hong Kong has always been a city of resilience, reinvention and ambition. And in a world that seems increasingly divided, its ability to bring people together — to connect, to collaborate and to create — may just be its most valuable asset of all

Of course, none of this is happening in a vacuum. The world is entering a more uncertain era. Interest rate hikes, geopolitical tensions and economic nationalism are challenging the global financial system. But Hong Kong’s resilience has always been its ability to adapt to change. In fact, these very disruptions may well amplify its unique position.

Consider this: Hong Kong is the world’s largest offshore renminbi hub, a role it plays with the full backing of Beijing. Its regulatory system aligns seamlessly with global standards, and its low-tax regime remains a magnet for foreign investors. But Hong Kong’s true edge lies in its dual identity. It understands the Chinese mainland’s market like no other global city, while offering international investors an accessible, familiar and sophisticated gateway into the mainland. In turn, it helps mainland businesses “go global”, acting as a launchpad for their international ambitions.  

This dual role — as a superconnector and a super value-creator — is more crucial now than ever. As Western markets become more fragmented and inward-looking, Hong Kong’s ability to bridge divides and unlock synergies will only grow in importance.  

But Hong Kong’s success isn’t just about facilitating transactions; it’s about something bigger — telling its story. Events like the AFF are not merely gatherings of the financial elite; they are a stage where Hong Kong reaffirms its place in the world. Through dialogues, partnerships and high-profile collaborations, the city demonstrates its capability to lead, innovate and create value.  

The stakes are high. Hong Kong’s reputation as an international financial center has been tested in recent years, amid geopolitical headwinds and shifting global dynamics. But the AFF is a reminder that its core strengths remain intact. By hosting global leaders and fostering collaboration, it sends a clear message: Hong Kong is not retreating. It is doubling down on its role as a global connector, a place where ideas meet capital, and where East meets West.  

Yet, to fully realize its potential, Hong Kong must continue to look outward. The focus on the Middle East is a promising start, but there are other underexplored markets — such as Africa and Latin America — that hold untapped opportunities. Hong Kong’s future lies not in resting on its laurels but in embracing the spirit of innovation and expansion that has always defined its rise.  

At its best, the AFF is more than just a financial forum; it’s a vision of what Hong Kong can be. A city that doesn’t just connect markets, but creates value. A city that doesn’t just adapt to change, but leads it. And a city that doesn’t just tell its story, but invites the world to be a part of it.  

Hong Kong has always been a city of resilience, reinvention and ambition. And in a world that seems increasingly divided, its ability to bring people together — to connect, to collaborate and to create — may just be its most valuable asset of all.

The author is the convener at China Retold, a member of the Legislative Council, and a member of the Central Committee of the New People’s Party.

The views do not necessarily reflect those of China Daily.