The Annual Conference of Financial Street Forum 2025 kicks off in Beijing's Xicheng district on October 27, 2025. Photo: Ma Jingjing/GT

As an international financial center and risk management center, Hong Kong Special Administrative Region (HKSAR) is best positioned to continue the dual role of "super-connector" and "super value-adder" for the Chinese mainland enterprises looking to expand globally, Stephen Yiu Kin-wah, chairman of the Insurance Authority (IA) of the HKSAR, told the Global Times in a written interview on Thursday.

Yiu made the remarks during the just-concluded Annual Conference of Financial Street Forum (FSF) 2025, a flagship event in the financial field, held in Beijing from Monday to Thursday.

This year marked his third attendance at the FSF as the chairman of the IA of Hong Kong. "This event continues to serve as a premier platform for dialogues among senior officials of mainland authorities and global financial leaders, and I treasured the inspiring discussions on various key topics such as building financial resilience amid geopolitical uncertainties and digitalization within the financial sector," the Hong Kong official said.

Stephen Yiu Kin-wah, chairman of the Insurance Authority (IA) of the Hong Kong Special Administrative Region Photo: Courtesy of the IA

Yiu, who is also a member of International Advisory Council of the National Financial Regulatory Administration, said that with unique advantages under the policy of "One Country, Two Systems," Hong Kong plays the dual role of "super-connector" and "super value-adder" to support mainland enterprises as they venture abroad and to help foreign businesses set foot in the mainland market.

"With this in mind, Hong Kong's insurance sector has been striving to integrate into national development and build upon the 'dual circulation' strategy, leveraging our strength as a global risk management center," Yiu said.

Using the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) as an example, Yiu said that the GBA serves as an ideal entry point for HKSAR to participate as a "promoter" of domestic circulation under the "dual circulation" strategy. The increasing mobility of people, goods and capital among the 11 cities in the GBA creates increasing need for cross-boundary connectivity of insurance services, he said, naming motor insurance and insurance for elderly care.

Hong Kong is also an ideal "facilitator" of international circulation under the "dual circulation" strategy to support mainland enterprises investing in overseas projects, especially in Belt and Road Initiative participating countries, said Yiu.

"Mainland enterprises are facing increasingly complex and evolving risks as they grow and expand their global footprint... Hong Kong is well-positioned to formulate customized solutions to help them oversee, transfer, mitigate and manage these risks, fully leveraging its competitive edge as a global risk management center," said Yiu.

Meanwhile, to uphold market integrity and protect policy holders, the IA has been engaging in close discussion with mainland regulators and authorities to foster regulatory collaboration and information sharing, mitigating systemic risks and deterring misconduct, said Yiu.

The Recommendations of the Central Committee of the Communist Party of China for Formulating the 15th Five-Year Plan (2026-30) for National Economic and Social Development was made public on Tuesday, Xinhua News Agency reported.

The recommendations vow to consolidate and enhance Hong Kong's status as an international financial, shipping and trade center and support it in developing into an international innovation and technology center. 

"As an international financial center and risk management center, Hong Kong is best positioned to continue the dual role of 'super-connector' and 'super value-adder' for mainland enterprises looking to expand globally," said Yiu.

Meanwhile, the IA will continue to advance various initiatives to consolidate Hong Kong's risk management capabilities with a view to serving national strategies, in alignment with the objectives of the 15th Five-Year Plan, said the Hong Kong official.