Financial hubs are bridges to prosperity. Here's why

The global capital order is changing. Geopolitical uncertainty, macroeconomic volatility and technological disruption are reshaping markets, redefining how and where capital is deployed.

These changes pose both threats and opportunities for financial hubs.

To thrive amid uncertainty and seize new possibilities for prosperity, they must evolve – and I see three interdependent areas as crucial to achieving this goal.

First, through closer connectivity that counters fragmentation by linking markets and participants more seamlessly, ensuring capital can flow even amid geopolitical divides.

Second, by building more responsive infrastructure that manages the volatility and technological disruption by enabling faster adaptation to new instruments, innovations and behaviours.

And third, with ever-more robust governance to build the trust and stability that are essential when uncertainty and rapid technological advances threaten confidence in global systems.

By taking action across all three areas, financial hubs can better align with the forces reshaping the world economy, turn disruption into opportunity and shape global prosperity for decades to come.

The world needs more connectivity, not less, and in an era of uncertainty and geopolitical change, financial hubs’ ability to forge connections will determine their relevance and leadership in shaping a resilient and prosperous global economy.

Companies, investors and stakeholders are having to adapt to an increasingly multipolar world order by seeking new ways to diversify and manage risk. Financial hubs are the bridges that make this possible, enabling capital to flow despite fragmentation and facilitating the development of multi-asset product ecosystems that create a broader set of investment opportunities.

Connected, vibrant financial hubs can also serve as the conduits that empower companies to scale beyond their home markets. By linking businesses to international capital pools and new partners, financial hubs can help firms navigate volatility and compete on the world stage.

As global capital seeks new opportunities and solutions in a fragmented world, financial hubs must work together – collaborating with peer exchanges, developing new products and refining market structures – to deepen cross-border connectivity.

Hong Kong is doing exactly that: forging partnerships, enhancing our listing regimes and connecting global capital with the Chinese Mainland’s fast-growing investor base and creating a vibrant hub for fundraising, trading and risk management.

But a financial hub’s global connectivity is only as strong as the market structure that supports it.

Investor behaviour is evolving at speed as technology lowers barriers and democratises access to markets. Digital platforms, real-time data and algorithmic instruments have empowered retail and ‘protail’ investors to act with speed and sophistication.

At the same time, exchanges face the challenge of disintermediation as blockchain tools and AI-driven platforms change the way markets operate.

These innovations challenge traditional systems, compelling exchanges and the financial hubs that house them to pursue operational and technology excellence.

In this context, financial hubs cannot stand still; they must embrace continuous enhancement, not as a one-off upgrade but as a mindset. By investing in robust, adaptable platforms and continuously enhancing their technological capabilities, financial hubs can effectively address evolving market needs and investor behaviours in a tech-driven, rapidly changing world.

That means building platforms that can handle new asset classes, trading models and increased volumes with precision and speed. It also means enhancing overall market efficiency by continuously reviewing and modernizing trading and settlement cycles, creating a seamless environment for investors to trade and manage their risks.

Above all, it’s about modernizing our markets and taking participants on this journey, and it is why at HKEX we are making our microstructure as frictionless as possible to ensure participants benefit from innovation and efficiency at every step.

Because ultimately, future-proofing market infrastructure is not just a technical challenge – it is a strategic imperative that ensures that a financial hub’s markets remain open, accessible and competitive.

International connectivity brings people, ideas and capital together, while advanced infrastructure enables seamless transactions – what’s also needed is confidence in the system of governance.

Trust is built on governance that is robust, transparent and globally-aligned. Governance ensures the resilience of companies, manages risk and reinforces market integrity.

It is what sets leading financial centres apart. It is why investors and corporates from around the world consistently choose Hong Kong to do their business, and as the city’s market operator, we ensure this integrity by setting standards and frameworks.

For instance, the introduction of corporate sustainability disclosure standards has set Hong Kong-listed companies on the path towards net zero and aligned with global practices, while updates to our corporate governance code have ensured our markets remain internationally competitive and attractive.

It’s no coincidence that, even amid global uncertainty, firms worldwide are expanding their presence here. They recognise that robust governance will be crucial to ensuring that the world we are changing into is resilient and has integrity.

The challenges ahead – geopolitical uncertainty, macroeconomic volatility and technological disruption – are complex, but surmountable. The World Economic Forum’s 2026 theme, “A Spirit of Dialogue,” reminds us that progress depends on cooperation that bridges fragmentation.

Financial hubs are central to this mission. Driving connectivity that counters division, strengthening governance to build confidence and investing in forward-looking infrastructure can be the foundation for resilience in a world being reshaped by rapid change.

By delivering in these areas, we can turn uncertainty into opportunity and ensure that capital markets remain engines of sustainable growth.

And with a shared commitment to innovation, integrity and global collaboration, financial hubs will not only weather disruption – they will shape a global economy that thrives for decades to come and build bridges to shared prosperity.