Qi Bin, a key figure at Beijing’s sovereign wealth fund, the China Investment Corporation (CIC), is set to take on a prominent role in the central government’s liaison office in Hong Kong, according to sources quoted by the South China Morning Post. This move is part of Beijing’s efforts to strengthen financial ties with the city and bolster its position as a global financial hub.
At 57, Qi has served as vice-president and deputy chief investment officer at CIC, where he has garnered a reputation as one of the most astute financial minds in the country. He is expected to arrive in Hong Kong this week and is likely to assume the position of deputy director at the liaison office, elevating his status to that of a vice-ministerial rank. Currently, the office is staffed by four deputy directors.
In his new role, Qi is anticipated to oversee economic affairs, playing a crucial part in harmonizing economic and financial policies between mainland China and the Hong Kong Special Administrative Region (SAR). According to the Post, one source noted, “Beijing is sending one of its brightest financial minds, with extensive financial regulatory experience and a comprehensive understanding of the global financial market, to Hong Kong. That shows its strong commitment to strengthening Hong Kong’s role as an international financial centre”.