Hong Kong has never needed an invitation to reinvent itself. It was the unofficial capital of Asian IPOs in the 1970s and 1980s. Firms from the whole Asian region were drawn together in Hong Kong because the city gave them access to funds and investors around the world. In the 1990s, the city had become the deal-making hub for multinationals entering the market of China.
The markets moved at a rapid pace, regulations were adhered to stringently, and finance became a full-contact sport. Whereas London orchestrated the textbook, New York penned the headlines, and Hong Kong penned the term sheets. Its history is more than nostalgia. It serves as a template for structuring chaotic markets into investable opportunities.
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For decades, Hong Kong existed on the fringes of the emerging markets. International trade, pre-WTO China, and Asian capital markets constituted their own kind of disorder. International bodies remained cautious, unsure of how to cope with such environments. However, Hong Kong brought order to this disorder by establishing structure out of nothing.
Three pillars underpinned the city’s strategy. Firstly, fast and predictable regulation. Secondly, competitive licensing for players in the finance sector. Thirdly, a culture that could mollify frontier markets without killing innovation. This made Hong Kong an essential factoring destination for investors chasing growth in uncertain markets.
Today, the focus has migrated to the world of crypto. This new world is highly volatile and very ambitious. It is a mess, but it has a lot of momentum. Hong Kong is again leaning in, using the same proven strategy. There are clear frameworks, licenses, and a culture to deal with the mess.
The city will host Solana Accelerate and Consensus: Hong Kong this year. These gatherings connect founders, institutional investors, policymakers, and innovators. They reflect the momentum of Hong Kong and establish it as an integral location in the future of internet capital markets. The city demonstrates that the strength of Hong Kong lies not in waiting for opportunity but in creating it.
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