Hong Kong has long been established as a leading international financial center with great track record. As the backbone of Hong Kong’s economy, the financial industry is the major driver of the city’s economic growth and affects each and every one of us. The financial industry is constantly evolving, so industry practitioners must always keep up with new trends and development to stay ahead. Hong Kong is facing a complex and fluid international situation, including the so-called “new normal” economy along with disruptive innovations in fintech and artificial intelligence sectors. The pressures and challenges we are facing are indeed unprecedented. While new opportunities such as the internationalization of the Renminbi, the liberalization of capital markets, and the Belt and Road Initiative continue to emerge, failure to capitalize on these opportunities may result in us, as Hong Kong financial practitioners, being marginalized in our own financial industry.

Over my 20+ years in this industry, I have experienced firsthand the rise of RMB market and the marginalization of Hong Kong’s financial industry. Twenty years ago, the onshore financial industry had just started to take off and Hong Kong was already in its golden age of economic development. Hong Kong was in the best position to serve as a bridge between the newly opened-up China and the rest of the world. During these two decades, China has risen to become one of the most important economies in the world and forming its own financial standards and systems and has gradually expanded its influence overseas. In the past two decades, Hong Kong’s financial industry has to put in extra efforts to maintain its role as a bridge to reach the wider world. In order to maintain our competitive edge, we have to a solid understanding of Mainland China’s financial ecosystem and a firm grasp of its rules and standards.

Fin Society was founded with the objective of strengthening the competitiveness of finance practitioners in Hong Kong. We also aim at empowering the next generation of finance leaders by equipping them with skills and broadening their horizons.

As member of an international financial center which also acts as a bridge between China and the wider world, it is imperative for local talents to learn and understand the markets outside of Hong Kong, especially the RMB financial markets. Otherwise, major financial institutions will prefer hiring Mainland talents who have proficient knowledge of the Chinese market or international talents who are familiar with the overseas markets. This leads to local youth being marginalized in Hong Kong. Therefore, my vision is to help young talents in Hong Kong to establish a solid foundation and to help practitioners improve their understanding of the Mainland’s financial industry, thereby allowing them to maintain their competitive advantage.

I hope that through our platform and programs, students and practitioners will be able gain a better understanding of both onshore and global financial systems and continue to contribute to our financial industry. We shall work together to maintain Hong Kong’s status as a leading international financial center.

Founder of Fin Society
Shannon Cheung