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Jan 18, 2021 HONG KONG, Jan 18, 2021 (JCN Newswire by using COMTEX) —
Co-organised by the Hong Kong Unique Administrative Location (HKSAR) Federal government and Hong Kong Trade Development Council (HKTDC), the 14th Asian Financial Discussion board (AFF) opened nowadays on a virtual system. Less than the concept “Reshaping the Environment Financial Landscape”, the two-day forum runs spherical the clock throughout various time zones, examining the present economic landscape and discovering world-wide company alternatives with a lot more than 160 influential policymakers, money industry experts, buyers, small business leaders and economists.
Carrie Lam, Main Government of the HKSAR, officiated at the forum’s opening ceremony, expressing that the COVID-19 pandemic has introduced both challenges and prospects. She spelled out that even though contributors from around the world ended up not bodily able to go to the AFF this calendar year, the on the web celebration would even now supply a must have economic knowledge and insights, the option to trade tips and create business relations, and a opportunity to understand much more about unique options for business enterprise expenditure. Mrs Lam also pointed out that as an intercontinental economical centre and a single of the world’s terrific organization hubs, Hong Kong is uniquely positioned to draw in incredible alternatives in the article-pandemic interval.
In his welcoming remarks, Dr Peter Lam, Chairman of the HKTDC, explained: “The Asian Economic Forum ordinarily opens the new calendar year by bringing collectively leaders from the economic sector and the corporate environment to address the main troubles of the day. Presented the big issues confronted globally in 2020, our theme of ‘Reshaping the Earth Financial Landscape’ for this year’s forum is specifically meaningful. The functions of very last year have not only reshaped the world economy but also led to long lasting changes in several facets of our lives. That is why this year’s AFF is far more crucial in serving to locate techniques to tackle these adjustments. Just one matter that is noticeably unique this yr is the digital format for AFF. The ability of engineering enables us to welcome individuals and speakers from each and every corner of the globe to take a look at strategies to facilitate the world financial recovery and discover issues ranging from technology innovation to sustainable advancement.”
Guo Shuqing, Secretary of Social gathering Committee of the People’s Lender of China and Chairman of the China Banking and Coverage Regulatory Commission, shipped the keynote speech at the opening ceremony. He stated: “Present-day environment is witnessing historic alterations. Asia may after once more participate in a prominent enhancement role in global civilisation as it did a number of generations back. As an global economic centre, Hong Kong is embracing the options of the new century. We firmly imagine Hong Kong will become far more steady and prosperous in its part as a world wide economical hub. The COVID-19 pandemic will ultimately recede. We will operate collectively with other nations to share the chances and rewards of globalisation.”
Nobel Laureate economist examines current economic outlook
Despite the shift to a new on line structure, AFF carries on to function a star-studded lineup of speakers. Amongst the keynote speakers this year is Paul Romer, 2018 Nobel Laureate for Economic Sciences and plan entrepreneur, who analysed the present condition of the world-wide financial state and posited the path toward a new and sustainable expansion engine. Mr Romer explained that 2020 was the yr in which Asia significantly outperformed Europe and the United States, describing: “The threat in the US and Europe was that people imagined they currently knew what to do – just doing what they had often finished. But this is the frame of mind that kills innovation.”
He believes that, irrespective of the uncertainties, the world has entered a new era with lower inflation, low interest premiums, and an envisioned recovery from the pandemic. “If we can preserve that mindset of innovation and experimentation, we can go on to progress,” he stated.
Reshaping the earth financial landscape
The AFF’s plenary session addressed the salient challenge of “Reshaping the World Economic Landscape”. Chaired by Christopher Hui, Secretary for Fiscal Products and services and the Treasury of the HKSAR Governing administration, the panel’s distinguished speakers incorporated Pierre Gramegna, Minister for Finance of Luxembourg Jin Liqun, President and Chairman of the Asian Infrastructure Expense Lender Bandar M H Hajjar, President of the Islamic Progress Bank Team Marcos Troyjo, President of the New Development Lender Teresa Czerwinska, Vice-President of the European Financial investment Lender and Sean Fleming, Minister of Condition at the Department of Finance of Ireland. Jointly they examined how the financial providers sector can contribute to the recovery of the world overall economy and what possibilities await in the new financial landscape.
In the encounter of the worldwide pandemic, a lot of governments utilized unconventional monetary guidelines to roll out large-scale fiscal stimulus packages. The coverage dialogue session this morning was themed “Coverage Responses to COVID-19”, with distinguished speakers like Ahmed Alkholifey, Governor of the Saudi Central Bank Jessica Chew, Deputy Governor of Central Bank of Malaysia Ryozo Himino, Commissioner of the Monetary Products and services Agency of Japan and Martin Raiser, Region Director, China and Mongolia, and Director, Korea of the Globe Financial institution. The gurus shared insights on the success of fiscal and monetary insurance policies in supporting development, and the implications of the rising use of fiscal technological know-how from the viewpoint of regulators.
Panel addresses world-wide economic outlook and sustainable financial commitment
The world wide banking marketplace have been reacting swiftly to remodel its small business in mild of the current ecosystem of low curiosity premiums, improved compliance prerequisites and electronic innovation, alongside one another with the raft of issues brought by the pandemic. In the afternoon session titled “World-wide Financial Outlook”, chaired by Victor Chu, Chairman & CEO of First Jap Expenditure Group, organization leaders from the banking and fiscal sectors shared their ideas on the outlook for the global banking sector, though taking into consideration how financial institutions must answer to regulatory modifications and improvements in technology. The distinguished panel of speakers incorporated Laura Cha, Chairman of Hong Kong Exchanges and Clearing Minimal Jean Lemierre, Chairman of BNP Paribas Liu Liange, Chairman of the Board of Lender of China Limited Urs Rohner, Chairman of the Board of Administrators of Credit rating Suisse Team AG Jose Vinals, Group Chairman of Regular Chartered PLC and Wong Kan-seng, Chairman of United Overseas Bank Restricted.
As socially accountable expense and effects financial commitment acquire much better ground, the pandemic has highlighted the worth of incorporating environmental, social and governance (ESG) considerations into financial commitment conclusions, producing prolonged-time period benefit for businesses and building better returns for buyers. The dialogue on “Responsible and Affect Financial investment” analysed the extended-term potential customers for sustainable investing with a panel that included Yoshio Hishida, President of Sumitomo Mitsui Trust Asset Administration Amy Lo, Chairman, Govt Committee, Private Wealth Administration Association, and Head and Main Government, UBS Hong Kong Department Jena Raby, CEO of Natixis Financial investment Supervisors 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, Managing Director, ESG Options, Global Banking of The Hongkong and Shanghai Banking Corporation Restricted. The subsequent dialogue session with Mark Tucker, Group Chairman of HSBC Holdings plc, took a further dive into the subject of weather change and ESG.
Other noteworthy figures sharing their thoughts in the various dialogue classes today had been Lei Zhang, Founder and CEO of Hillhouse Cash Management and Philippe Brassac, Chief Government Officer of Credit score Agricole SA.
Marketplace leaders analyse rising problems
The green economic climate, 5G and innovation have turn into vital elements of economic improvement in current years. The afternoon session, “Greening the Economy with 5G and Innovation”, was chaired by Wilson Chow, World wide Engineering, Media and Telecommunications Field Chief of PwC, with speakers together with David Chung, Less than Secretary for Innovation and Technological know-how of the HKSAR Govt Grace Hui, Head of Eco-friendly and Sustainable Finance, Hong Kong Exchanges and Clearing Restricted Gordon Guo, Deputy Head, Web & Company Resolution Division, China Mobile Hong Kong and Sammie Leung, Weather and Sustainability Chief of PwC Mainland China and Hong Kong.
Central bank digital currencies (CBDCs) are getting far more interest in worldwide markets. As a leading worldwide financial centre and the world’s premier offshore renminbi hub, Hong Kong is properly positioned to aid the exploration and enlargement of CBDCs at the cross-boundary stage. In a dialogue themed “The Evolving Central Bank Digital Currency Landscape”, panellists shared insights on likely use conditions for CBDCs and how Hong Kong’s burgeoning fintech ecosystem can get superior outfitted for the possibilities that lie in advance. The speakers provided the Money Products and services Advancement Council’s Chairman, Laurence Li, and Govt Director, Au King-lun Henri Arslanian, World Crypto Chief and Husband or wife, PwC Shusong Ba, Managing Director and Chief China Economist, Hong Kong Exchanges and Clearing Confined, and Main Economist of the China Banking Association Joseph Chan, Less than Secretary for Economic Services and the Treasury of the HKSAR Federal government and Benedicte Nolens, Head of BIS Innovation Hub, Hong Kong Centre.
New “Dialogues for Tomorrow” series explores future of diverse industries
This year’s AFF sees the inauguration of the “Dialogues for Tomorrow” collection. The two-working day programme will explore the long term of different sectors this kind of as banking, insurance plan, fintech, electrical power, health care, meals and agriculture and huge tech. Distinguished speakers taking component involve Melissa Guzy, Co-Founder and Managing Husband or wife of Arbor Ventures Florian Kemmerich, Handling Husband or wife of Bamboo Cash Associates Randall S Kroszner, Deputy Dean of Govt Packages and Norman R Bobins Professor of Economics of the University of Chicago Booth School of Enterprise Mary Huen, CEO of Hong Kong, Standard Chartered Maaike Seinebach, Basic Manager, Hong Kong and Macau of Visa Inc Sally Wan, CEO of AXA Hong Kong and Macau Ming Yang, Main Economical Officer of Daqo New Electricity and Tao Zhang, Founder and Running Director of Dao Ventures & Dao Foods Intercontinental.
Online showcase for fintech and begin-ups with 140-plus institutions
The AFF includes the Fintech Showcase, FintechHK Startup Salon, InnoVenture Salon and World Investment decision Zone, with additional than 140 local and abroad global money establishments, know-how enterprises, start-ups and financial investment companies coming alongside one another to give online displays on the hottest tendencies in fintech innovation and up coming-era enterprise suggestions, serving to industries from various sections of the globe to take a look at investment chances. Exhibitors include things like Mox Bank, a start off-up team from Cyberport, Hong Kong Science and Technological know-how Parks, PAO Lender and Airwallex. In addition, this year’s AFF Offer Flow Matchmaking Session yet again connects buyers with challenge house owners from close to the environment covering various areas such as the Internet of Items, electronic technological innovation, healthtech, fintech, instruction, setting and electrical power, food stuff and agriculture, infrastructure and serious estate. With one-on-a single conferences organised on a digital platform this year, a history selection of participants is expected.
The InnoVenture Salon proceeds to empower start off-up enterprises by creating connections with international buyers and probable enterprise associates, signing up for hands with Hong Kong fiscal regulators to address begin-up difficulties. The HKTDC, 500 Startups and FWD Group are also jointly presenting the inaugural “AFF Accelerate”, an open innovation obstacle inviting start-up entrepreneurs to devise coverage technologies alternatives for the coverage market, bringing ground breaking concepts into the commercial planet.
Two keynote speakers and extra fiscal leaders on second working day of AFF
Sharing their insights on innovation, synthetic intelligence and undertaking money investing tomorrow (19 January) will be two keynote speakers, Alexis Ohanian, Co-founder of Reddit and Seven Seven Six, and Luc Julia, Co-creator of Siri, Apple’s virtual assistant. Kicking off tomorrow’s proceedings will be two panel conversations covering “Asset and Prosperity Administration Marketplace in the Post-COVID Era” and “Climate Transform Hazards and Alternatives for Coverage”. In addition, a dialogue session moderated by Antony Leung, Team Chairman & CEO of the Nan Fung Group, will function Stephen A Schwarzman, Chairman, CEO and Co-Founder of Blackstone.
– 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/most important
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The Hong Kong Trade Enhancement Council (HKTDC) is a statutory human body recognized in 1966 to promote, aid and create Hong Kong’s trade. With 50 places of work globally, such as 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way international investment decision and small business hub. The HKTDC organises worldwide exhibitions, conferences and business missions to generate business prospects for firms, significantly tiny and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also delivers up-to-date market insights and item information by way of trade publications, research reports and digital news channels. For far more information and facts, be sure to visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn
HKTDC’s Communications & Public Affairs Section
Angel Tang, Tel: +852 2584 4544, E mail: [email protected]
Sam Ho, Tel: +852 2584 4569, E-mail: [email protected]
Clayton Lauw, Tel: +852 2584 4472, Electronic mail: [email protected]
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