14th Asian Fiscal Discussion board opens now

Carrie Lam, Main Executive of the HKSAR, officiated at the forum’s opening ceremony, expressing that the COVID-19 pandemic has introduced both pitfalls and alternatives. She described that while contributors from close to the environment ended up not bodily ready to go to the AFF this yr, the on the internet event would nonetheless present invaluable money wisdom and insights, the possibility to exchange tips and develop small business relations, and a chance to find out far more about unique alternate options for company investment. Mrs Lam also pointed out that as an intercontinental monetary centre and one particular of the world’s wonderful business hubs, Hong Kong is uniquely positioned to draw in incredible options in the post-pandemic period.

In his welcoming remarks, Dr Peter Lam, Chairman of the HKTDC, mentioned: “The Asian Economic Discussion board historically opens the new calendar year by bringing with each other leaders from the economic marketplace and the corporate earth to tackle the important issues of the day. Provided the massive worries confronted globally in 2020, our topic of ‘Reshaping the Planet Financial Landscape’ for this year’s discussion board is specially significant. The situations of previous yr have not only reshaped the world-wide economic climate but also led to long lasting changes in quite a few elements of our life. That is why this year’s AFF is extra significant in encouraging uncover approaches to deal with these modifications. 1 detail that is significantly unique this 12 months is the electronic format for AFF. The electricity of know-how allows us to welcome individuals and speakers from every single corner of the globe to examine ways to facilitate the world financial recovery and investigate troubles ranging from technological know-how innovation to sustainable improvement.”

Guo Shuqing, Secretary of Occasion Committee of the People’s Lender of China and Chairman of the China Banking and Insurance coverage Regulatory Fee, delivered the keynote speech at the opening ceremony. He claimed: “Present day globe is witnessing historic modifications. Asia could when again play a distinguished growth purpose in world-wide civilisation as it did a handful of generations in the past. As an intercontinental economical centre, Hong Kong is embracing the options of the new century. We firmly consider Hong Kong will become additional steady and prosperous in its part as a world-wide monetary hub. The COVID-19 pandemic will eventually recede. We will function with each other with other nations to share the opportunities and added benefits of globalisation.”

Nobel Laureate economist examines latest financial outlook

Irrespective of the shift to a new on the internet format, AFF continues to characteristic a star-studded lineup of speakers. Among the the keynote speakers this year is Paul Romer, 2018 Nobel Laureate for Economic Sciences and policy entrepreneur, who analysed the latest state of the international overall economy and posited the route in direction of a new and sustainable advancement motor. Mr Romer stated that 2020 was the 12 months in which Asia substantially outperformed Europe and the United States, conveying: “The danger in the US and Europe was that persons considered they currently knew what to do – just accomplishing what they had constantly accomplished. But this is the mentality that kills innovation.”

He thinks that, in spite of the uncertainties, the earth has entered a new era with low inflation, low desire charges, and an expected recovery from the pandemic. “If we can manage that attitude of innovation and experimentation, we can carry on to development,” he reported.

Reshaping the globe economic landscape

The AFF’s plenary session tackled the salient issue of “Reshaping the Earth Financial Landscape”. Chaired by Christopher Hui, Secretary for Monetary Products and services and the Treasury of the HKSAR Authorities, the panel’s distinguished speakers bundled Pierre Gramegna, Minister for Finance of Luxembourg Jin Liqun, President and Chairman of the Asian Infrastructure Expenditure Lender Bandar M H Hajjar, President of the Islamic Development Bank Team Marcos Troyjo, President of the New Advancement Bank Teresa Czerwinska, Vice-President of the European Financial investment Bank and Sean Fleming, Minister of Point out at the Division of Finance of Eire. With each other they examined how the fiscal expert services sector can add to the recovery of the world economy and what options await in the new economic landscape.

In the facial area of the world pandemic, a lot of governments utilized unconventional money policies to roll out massive-scale fiscal stimulus packages. The coverage dialogue session this morning was themed “Plan Responses to COVID-19”, with distinguished speakers which includes Ahmed Alkholifey, Governor of the Saudi Central Lender Jessica Chew, Deputy Governor of Central Lender of Malaysia Ryozo Himino, Commissioner of the Money Expert services Agency of Japan and Martin Raiser, State Director, China and Mongolia, and Director, Korea of the Planet Lender. The professionals shared insights on the effectiveness of fiscal and monetary guidelines in supporting progress, and the implications of the expanding use of economical technological know-how from the viewpoint of regulators.

Panel addresses world wide financial outlook and sustainable financial commitment

The world wide banking business have been reacting immediately to transform its business in light of the current atmosphere of very low fascination fees, greater compliance prerequisites and digital innovation, with each other with the raft of problems introduced by the pandemic. In the afternoon session titled “Global Economic Outlook”, chaired by Victor Chu, Chairman & CEO of Initial Japanese Expenditure Group, business leaders from the banking and economical sectors shared their ideas on the outlook for the world wide banking business, while contemplating how banking institutions really should respond to regulatory changes and improvements in technologies. The distinguished panel of speakers included Laura Cha, Chairman of Hong Kong Exchanges and Clearing Limited Jean Lemierre, Chairman of BNP Paribas Liu Liange, Chairman of the Board of Financial institution of China Minimal Urs Rohner, Chairman of the Board of Administrators of Credit score Suisse Group AG Jose Vinals, Group Chairman of Regular Chartered PLC and Wong Kan-seng, Chairman of United Abroad Bank Constrained.

As socially liable expenditure and affect expenditure attain stronger ground, the pandemic has highlighted the importance of incorporating environmental, social and governance (ESG) criteria into investment choices, creating very long-phrase value for firms and building greater returns for investors. The dialogue on “Liable and Effect Expenditure” analysed the very long-time period prospective clients for sustainable investing with a panel that incorporated Yoshio Hishida, President of Sumitomo Mitsui Belief Asset Administration Amy Lo, Chairman, Government Committee, Non-public Wealth Administration Affiliation, and Head and Chief Govt, UBS Hong Kong Branch Jena Raby, CEO of Natixis Financial commitment Administrators Vineet Rai, Founder and Chairman of the Aavishkaar Group and George H Walker, Chairman and CEO of Neuberger Berman. The dialogue was chaired by Jonathan Drew, Controlling Director, ESG Remedies, Global Banking of The Hongkong and Shanghai Banking Corporation Limited. The subsequent dialogue session with Mark Tucker, Group Chairman of HSBC Holdings plc, took a deeper dive into the subject of local climate alter and ESG.

Other noteworthy figures sharing their feelings in the different dialogue classes currently ended up Lei Zhang, Founder and CEO of Hillhouse Capital Management and Philippe Brassac, Main Govt Officer of Credit score Agricole SA.

Business leaders analyse rising concerns

The environmentally friendly financial system, 5G and innovation have develop into vital features of financial progress in recent years. The afternoon session, “Greening the Economic climate with 5G and Innovation”, was chaired by Wilson Chow, International Technologies, Media and Telecommunications Sector Chief of PwC, with speakers which include David Chung, Underneath Secretary for Innovation and Technology of the HKSAR Authorities Grace Hui, Head of Eco-friendly and Sustainable Finance, Hong Kong Exchanges and Clearing Minimal Gordon Guo, Deputy Head, World-wide-web & Company Solution Division, China Mobile Hong Kong and Sammie Leung, Local climate and Sustainability Leader of PwC Mainland China and Hong Kong.

Central financial institution digital currencies (CBDCs) are gaining much more interest in global markets. As a premier intercontinental money centre and the world’s most significant offshore renminbi hub, Hong Kong is very well positioned to aid the exploration and growth of CBDCs at the cross-boundary level. In a discussion themed “The Evolving Central Bank Electronic Forex Landscape”, panellists shared insights on possible use scenarios for CBDCs and how Hong Kong’s burgeoning fintech ecosystem can get improved outfitted for the options that lie forward. The speakers integrated the Economical Products and services Growth Council’s Chairman, Laurence Li, and Govt Director, Au King-lun Henri Arslanian, Worldwide Crypto Chief and Associate, PwC Shusong Ba, Running Director and Main China Economist, Hong Kong Exchanges and Clearing Minimal, and Main Economist of the China Banking Affiliation Joseph Chan, Under Secretary for Monetary Expert services and the Treasury of the HKSAR Governing administration and Benedicte Nolens, Head of BIS Innovation Hub, Hong Kong Centre.

New “Dialogues for Tomorrow” collection explores foreseeable future of unique industries

This year’s AFF sees the inauguration of the “Dialogues for Tomorrow” series. The two-day programme will explore the long run of distinctive sectors these as banking, coverage, fintech, vitality, health care, food and agriculture and massive tech. Distinguished speakers getting section include Melissa Guzy, Co-Founder and Running Lover of Arbor Ventures Florian Kemmerich, Controlling Companion of Bamboo Funds Partners Randall S Kroszner, Deputy Dean of Executive Programs and Norman R Bobins Professor of Economics of the University of Chicago Booth Faculty of Company Mary Huen, CEO of Hong Kong, Typical Chartered Maaike Seinebach, Standard Supervisor, Hong Kong and Macau of Visa Inc Sally Wan, CEO of AXA Hong Kong and Macau Ming Yang, Chief Monetary Officer of Daqo New Energy and Tao Zhang, Founder and Running Director of Dao Ventures & Dao Meals International.

On the internet showcase for fintech and get started-ups with 140-furthermore establishments

The AFF features the Fintech Showcase, FintechHK Startup Salon, InnoVenture Salon and World-wide Expense Zone, with more than 140 nearby and overseas intercontinental fiscal institutions, technologies enterprises, start-ups and financial investment businesses coming together to give on line presentations on the hottest trends in fintech innovation and subsequent-technology business enterprise ideas, encouraging industries from diverse components of the earth to examine investment alternatives. Exhibitors contain Mox Financial institution, a begin-up team from Cyberport, Hong Kong Science and Engineering Parks, PAO Financial institution and Airwallex. In addition, this year’s AFF Offer Move Matchmaking Session again connects buyers with venture homeowners from all over the globe covering distinct parts which includes the World wide web of Items, digital know-how, healthtech, fintech, instruction, surroundings and vitality, meals and agriculture, infrastructure and serious estate. With a single-on-one particular conferences organised on a digital platform this 12 months, a record variety of individuals is expected.

The InnoVenture Salon carries on to empower get started-up enterprises by making connections with intercontinental buyers and opportunity enterprise companions, signing up for arms with Hong Kong monetary regulators to clear up start out-up issues. The HKTDC, 500 Startups and FWD Group are also jointly presenting the inaugural “AFF Speed up”, an open up innovation problem inviting start off-up business owners to devise coverage technological know-how options for the insurance industry, bringing revolutionary strategies into the industrial earth.

Two keynote speakers and extra economical leaders on second day of AFF

Sharing their insights on innovation, artificial intelligence and enterprise funds investing tomorrow (19 January) will be two keynote speakers, Alexis Ohanian, Co-founder of Reddit and 7 7 6, and Luc Julia, Co-creator of Siri, Apple’s virtual assistant. Kicking off tomorrow’s proceedings will be two panel discussions covering “Asset and Prosperity Management Industry in the Article-COVID Era” and “Climate Alter Risks and Options for Coverage”. In addition, a dialogue session moderated by Antony Leung, Team Chairman & CEO of the Nan Fung Group, will aspect Stephen A Schwarzman, Chairman, CEO and Co-Founder of Blackstone.

Websites
– Asian Economic Discussion board: https://www.asianfinancialforum.com/aff/en/
– AFF programme: https://www.asianfinancialforum.com/aff/en/s/programme
– AFF speakers: https://www.asianfinancialforum.com/aff/en/speaker/major
– Photograph down load: https://bit.ly/3bJfBk6

About HKTDC

The Hong Kong Trade Enhancement Council (HKTDC) is a statutory entire body set up in 1966 to promote, guide and produce Hong Kong’s trade. With 50 workplaces globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way international investment and small business hub. The HKTDC organises intercontinental exhibitions, conferences and business enterprise missions to make organization alternatives for firms, particularly compact and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also presents up-to-date industry insights and merchandise data by means of trade publications, research stories and electronic information channels. For much more info, please stop by: www.hktdc.com/aboutus. Abide by us on Twitter @hktdc and LinkedIn

Media enquiries:
HKTDC’s Communications & Community Affairs Division
Angel Tang, Tel: +852 2584 4544, E mail: [email protected]
Sam Ho, Tel: +852 2584 4569, Email: [email protected]
Clayton Lauw, Tel: +852 2584 4472, E mail: [email protected]

Resource: HKTDC

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