Hong Kong SAR of China is setting the pace for gender-balanced leadership in finance, with at least 60 women having held CEO roles in a male-dominated industry. Its progress offers a potential roadmap for other financial hubs, and raises questions about the cultural and regulatory factors that have enabled women to break through the glass ceiling.
A recent study by Women Chief Executives Hong Kong, KPMG China and The Women’s Foundation surveyed more than 530 finance professionals in Hong Kong. It found that visible female leadership, flexible work arrangements and access to regional assignments drive women’s career advancement.
‘Opportunities tend to be based more on performance and ambition than on gender alone’
Hong Kong ranks first globally for societal acceptance of female leadership; 70% feel encouraged to take on leadership roles and only 15% report gender bias.
‘I see Hong Kong as a place that genuinely rewards drive and capability,’ says Elisa Harca, founder and board member at Red Ant Asia, a marketing and communications consultancy specialising in luxury, beauty and lifestyle brands across Asia Pacific. ‘There’s a strong “can-do” culture here, and opportunities tend to be based more on performance and ambition than on gender alone.’
Competitive advantage
These conditions create a competitive advantage for firms that embrace them. According to the report, diverse leadership teams can enhance audit quality by bringing varied perspectives to complex judgments and reducing groupthink.
The findings suggest that progress on gender equality takes action on multiple fronts. These include making women in senior positions genuinely visible, investing in international mobility and flexible working policies, and prioritising competency-based selection and development.
Advocacy groups and professional bodies also have a role to play in sustaining momentum and holding the sector accountable. ‘Progress doesn’t happen by accident,’ Harca notes. ‘Organisations such as The Women’s Foundation have played an important role in pushing for greater female representation at board and leadership levels, helping to create a more balanced ecosystem.’
Competence comes first
Eva Chan, a corporate strategist and chairman of the Hong Kong Investor Relations Association, says that Hong Kong’s business environment has long prioritised professional competence over gender. ‘In my experience in Hong Kong, I haven’t observed the kind of gender-based barriers or unfair treatment that might exist in other markets. The cultural environment here is quite supportive of women in the workplace,’ she says.
‘Normalisation of women in professional roles creates a more inclusive atmosphere’
Cultural factors reinforce this. In Hong Kong, strong family support systems are deeply embedded in society, making it common for women to continue their careers after marriage. ‘This normalisation of women in professional roles – including senior positions – creates a more inclusive atmosphere where diverse perspectives are welcomed, and people feel empowered to speak up regardless of gender,’ Chan explains.
According to the report, 76% of respondents said visible female leadership is the single most influential workplace enabler for career advancement. Women were 37% more likely to report that progress feels real when they see a woman in a senior position.
For businesses, gender diversity also makes commercial sense. The report shows that companies with greater gender diversity on executive teams outperform peers on profitability, governance and organisational resilience.
Hong Kong regulators are backing the evidence with action. Since 2025, the Hong Kong Stock Exchange no longer permits single-gender boards on listed markets, and over 40% of listed companies have exceeded the minimum requirement by appointing more than one female director.
The public sector is also stepping up. As of 2025, women held 47% of bureau head positions and made up 35% of members on government advisory and statutory bodies, meeting the government’s stated gender target.
From policy to progress
The report identifies specific structural policies that lead to positive career outcomes. Some 65% of women surveyed reported having access to regional assignments, giving them exposure to leadership opportunities across Asia and broader professional networks. Another 68% reported access to remote work policies, which they said translated into positive career progression alongside effective family support.
‘Organisations need to define the key competencies that matter most’
For accounting and finance firms, these findings suggest that talent competitiveness may depend on structural flexibility. As competition for talent intensifies and stakeholder expectations around governance continue to rise, firms that fail to act risk being outpaced by those that have recognised gender-balanced leadership as an advantage.
For firms seeking to translate these insights into practice, Chan advocates for a rigorous, competency-based approach. ‘Organisations need to define the key competencies that matter most, run a rigorous matching process and then identify the gaps,’ she says. When selection processes focus on clearly defined competencies, organisations can identify and develop talent without bias, she adds.
Sustaining progress, however, requires more than structural change. Harca points to a challenge that resonates across sectors: ‘One of the biggest things I’ve had to learn is how to balance ambition with contentment – being proud of where the business is today, while still pushing it to grow and evolve. That mindset shift has been key to sustaining momentum over the long term.’
