160+ assumed leaders gather on line to look at economic landscape
HONG KONG, Jan 18, 2021 – (ACN Newswire) – Co-organised by the Hong Kong Exclusive Administrative Area (HKSAR) Authorities and Hong Kong Trade Development Council (HKTDC), the 14th Asian Economic Forum (AFF) opened currently on a digital system. Below the theme “Reshaping the Environment Economic Landscape”, the two-day forum operates round the clock throughout diverse time zones, analyzing the existing economic landscape and exploring international organization chances with extra than 160 influential policymakers, money gurus, investors, company leaders and economists.
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| Paul Romer, 2018 Nobel Laureate for Economic Sciences and plan entrepreneur |
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| Chaired by Christopher Hui, Secretary for Economic Providers and the Treasury of the HKSAR Government, the panel’s distinguished speakers incorporated Pierre Gramegna, Minister for Finance of Luxembourg Jin Liqun, President & Chairman of AIIB Bandar M H Hajjar, President, Islamic Growth Bank Team Marcos Troyjo, President, New Growth Bank Teresa Czerwinska, VP, European Financial commitment Lender and Sean Fleming, Minister of Condition at the Office of Finance of Eire |
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The coverage dialogue session this morning was themed “Coverage Responses to COVID-19”, with distinguished speakers such as Ahmed Alkholifey, Governor of the Saudi Central Lender Jessica Chew, Deputy Governor of Central Financial institution of Malaysia Ryozo Himino, Commissioner of the Fiscal Companies Agency of Japan and Martin Raiser, Region Director, China and Mongolia, and Director, Korea of the Environment Bank |
Carrie Lam, Main Government of the HKSAR, officiated at the forum’s opening ceremony, expressing that the COVID-19 pandemic has introduced both dangers and alternatives. She explained that even though individuals from all over the globe ended up not bodily capable to attend the AFF this 12 months, the on the web event would continue to offer you a must have financial knowledge and insights, the chance to trade suggestions and establish company relations, and a chance to discover far more about unique options for enterprise expenditure. Mrs Lam also pointed out that as an worldwide fiscal centre and one particular of the world’s wonderful organization hubs, Hong Kong is uniquely positioned to appeal to tremendous options in the submit-pandemic period.
In his welcoming remarks, Dr Peter Lam, Chairman of the HKTDC, said: “The Asian Economic Forum ordinarily opens the new yr by bringing with each other leaders from the economical field and the company environment to handle the main challenges of the day. Offered the huge difficulties faced globally in 2020, our theme of ‘Reshaping the Entire world Financial Landscape’ for this year’s forum is in particular meaningful. The gatherings of last 12 months have not only reshaped the international financial system but also led to long lasting modifications in lots of features of our life. That is why this year’s AFF is far more important in serving to discover means to address these alterations. A person point that’s drastically various this yr is the electronic format for AFF. The power of technologies permits us to welcome participants and speakers from every single corner of the planet to examine strategies to aid the world wide financial restoration and investigate problems ranging from technologies innovation to sustainable growth.”
Guo Shuqing, Secretary of Bash Committee of the People’s Lender of China and Chairman of the China Banking and Insurance policies Regulatory Commission, shipped the keynote speech at the opening ceremony. He reported: “Present day world is witnessing historic improvements. Asia could after once again engage in a well known growth part in worldwide civilisation as it did a number of generations in the past. As an worldwide money centre, Hong Kong is embracing the options of the new century. We firmly consider Hong Kong will come to be extra secure and affluent in its purpose as a worldwide financial hub. The COVID-19 pandemic will finally recede. We will get the job done with each other with other nations to share the prospects and added benefits of globalisation.”
Nobel Laureate economist examines present-day economic outlook
In spite of the move to a new on the web format, AFF continues to function a star-studded lineup of speakers. Amongst the keynote speakers this 12 months is Paul Romer, 2018 Nobel Laureate for Financial Sciences and coverage entrepreneur, who analysed the latest condition of the international financial system and posited the route in direction of a new and sustainable development engine. Mr Romer said that 2020 was the 12 months in which Asia substantially outperformed Europe and the United States, outlining: “The hazard in the US and Europe was that folks considered they now knew what to do – just accomplishing what they experienced often completed. But this is the state of mind that kills innovation.”
He thinks that, irrespective of the uncertainties, the globe has entered a new era with low inflation, very low interest rates, and an anticipated recovery from the pandemic. “If we can maintain that mentality of innovation and experimentation, we can proceed to progress,” he explained.
Reshaping the globe financial landscape
The AFF’s plenary session resolved the salient issue of “Reshaping the Planet Economic Landscape”. Chaired by Christopher Hui, Secretary for Money Companies and the Treasury of the HKSAR Authorities, the panel’s distinguished speakers integrated Pierre Gramegna, Minister for Finance of Luxembourg Jin Liqun, President and Chairman of the Asian Infrastructure Investment decision Financial institution Bandar M H Hajjar, President of the Islamic Development Financial institution Group Marcos Troyjo, President of the New Growth Financial institution Teresa Czerwinska, Vice-President of the European Investment Bank and Sean Fleming, Minister of State at the Office of Finance of Ireland. Alongside one another they examined how the economical solutions sector can lead to the recovery of the worldwide overall economy and what alternatives await in the new financial landscape.
In the encounter of the international pandemic, quite a few governments employed unconventional fiscal guidelines to roll out significant-scale fiscal stimulus offers. The coverage dialogue session this morning was themed “Policy Responses to COVID-19”, with distinguished speakers like Ahmed Alkholifey, Governor of the Saudi Central Lender Jessica Chew, Deputy Governor of Central Lender of Malaysia Ryozo Himino, Commissioner of the Economical Companies Agency of Japan and Martin Raiser, State Director, China and Mongolia, and Director, Korea of the World Lender. The industry experts shared insights on the success of fiscal and monetary guidelines in supporting development, and the implications of the raising use of financial technologies from the standpoint of regulators.
Panel addresses worldwide financial outlook and sustainable financial commitment
The world banking market have been reacting promptly to rework its business enterprise in light of the present ecosystem of small interest prices, elevated compliance prerequisites and electronic innovation, together with the raft of issues introduced by the pandemic. In the afternoon session titled “Global Economic Outlook”, chaired by Victor Chu, Chairman & CEO of 1st Eastern Financial commitment Group, business leaders from the banking and economical sectors shared their thoughts on the outlook for the world banking market, whilst looking at how banks must answer to regulatory improvements and innovations in know-how. The distinguished panel of speakers provided 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 Restricted Urs Rohner, Chairman of the Board of Administrators of Credit history Suisse Group AG Jose Vinals, Group Chairman of Typical Chartered PLC and Wong Kan-seng, Chairman of United Overseas Bank Minimal.
As socially accountable expense and effects financial investment acquire more powerful ground, the pandemic has highlighted the relevance of incorporating environmental, social and governance (ESG) criteria into investment decision selections, making long-time period benefit for organizations and building larger returns for buyers. The dialogue on “Responsible and Affect Expenditure” analysed the lengthy-term potential customers for sustainable investing with a panel that provided Yoshio Hishida, President of Sumitomo Mitsui Belief Asset Administration Amy Lo, Chairman, Executive Committee, Private Prosperity Administration Affiliation, and Head and Main Government, UBS Hong Kong Department Jena Raby, CEO of Natixis Financial investment Professionals Vineet Rai, Founder and Chairman of the Aavishkaar Team and George H Walker, Chairman and CEO of Neuberger Berman. The discussion was chaired by Jonathan Drew, Handling Director, ESG Answers, International Banking of The Hongkong and Shanghai Banking Company Limited. The subsequent dialogue session with Mark Tucker, Group Chairman of HSBC Holdings plc, took a further dive into the matter of local climate adjust and ESG.
Other notable figures sharing their feelings in the different dialogue classes currently ended up Lei Zhang, Founder and CEO of Hillhouse Cash Administration and Philippe Brassac, Main Govt Officer of Credit score Agricole SA.
Field leaders analyse rising problems
The green economic climate, 5G and innovation have grow to be essential factors of economic advancement in current years. The afternoon session, “Greening the Financial system with 5G and Innovation”, was chaired by Wilson Chow, World Technological know-how, Media and Telecommunications Marketplace Leader of PwC, with speakers including David Chung, Underneath Secretary for Innovation and Know-how of the HKSAR Govt Grace Hui, Head of Environmentally friendly and Sustainable Finance, Hong Kong Exchanges and Clearing Constrained Gordon Guo, Deputy Head, Online & Business Remedy Division, China Cell Hong Kong and Sammie Leung, Local climate and Sustainability Chief of PwC Mainland China and Hong Kong.
Central financial institution electronic currencies (CBDCs) are getting additional focus in global markets. As a premier global monetary centre and the world’s most significant offshore renminbi hub, Hong Kong is nicely positioned to facilitate the exploration and enlargement of CBDCs at the cross-boundary amount. In a dialogue themed “The Evolving Central Financial institution Electronic Forex Landscape”, panellists shared insights on probable use instances for CBDCs and how Hong Kong’s burgeoning fintech ecosystem can get superior geared up for the opportunities that lie forward. The speakers bundled the Economic Expert services Development Council’s Chairman, Laurence Li, and Government Director, Au King-lun Henri Arslanian, Global Crypto Chief and Spouse, PwC Shusong Ba, Managing Director and Main China Economist, Hong Kong Exchanges and Clearing Restricted, and Main Economist of the China Banking Association Joseph Chan, Under Secretary for Money Companies and the Treasury of the HKSAR Government and Benedicte Nolens, Head of BIS Innovation Hub, Hong Kong Centre.
New “Dialogues for Tomorrow” series explores long run of various industries
This year’s AFF sees the inauguration of the “Dialogues for Tomorrow” series. The two-day programme will talk about the foreseeable future of different sectors this kind of as banking, insurance, fintech, strength, health care, food and agriculture and major tech. Distinguished speakers getting portion consist of Melissa Guzy, Co-Founder and Handling Husband or wife of Arbor Ventures Florian Kemmerich, Controlling Husband or wife of Bamboo Capital Companions Randall S Kroszner, Deputy Dean of Govt Plans and Norman R Bobins Professor of Economics of the University of Chicago Booth School of Business enterprise Mary Huen, CEO of Hong Kong, Conventional Chartered Maaike Seinebach, Common 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 Handling Director of Dao Ventures & Dao Foodstuff International.
On the net showcase for fintech and start out-ups with 140-as well as institutions
The AFF features the Fintech Showcase, FintechHK Startup Salon, InnoVenture Salon and World-wide Financial investment Zone, with far more than 140 local and overseas international economic institutions, engineering enterprises, commence-ups and financial commitment businesses coming alongside one another to give on-line presentations on the newest tendencies in fintech innovation and up coming-technology business ideas, helping industries from various parts of the planet to check out financial investment prospects. Exhibitors consist of Mox Financial institution, a begin-up team from Cyberport, Hong Kong Science and Technological know-how Parks, PAO Financial institution and Airwallex. In addition, this year’s AFF Offer Circulation Matchmaking Session again connects buyers with project owners from all-around the entire world covering diverse spots which includes the World-wide-web of Points, digital technologies, healthtech, fintech, education and learning, atmosphere and electricity, foods and agriculture, infrastructure and true estate. With one-on-a person conferences organised on a virtual platform this year, a report range of contributors is expected.
The InnoVenture Salon proceeds to empower start-up enterprises by building connections with international investors and probable small business partners, joining fingers with Hong Kong money regulators to resolve start off-up issues. The HKTDC, 500 Startups and FWD Group are also jointly presenting the inaugural “AFF Accelerate”, an open up innovation challenge inviting start off-up business owners to devise insurance policy technology methods for the insurance plan market, bringing impressive strategies into the business globe.
Two keynote speakers and extra economic 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 Seven Six, and Luc Julia, Co-creator of Siri, Apple’s virtual assistant. Kicking off tomorrow’s proceedings will be two panel discussions masking “Asset and Wealth Administration Market in the Put up-COVID Era” and “Local weather Change Challenges and Chances for Insurance policy”. In addition, a dialogue session moderated by Antony Leung, Group Chairman & CEO of the Nan Fung Team, will characteristic Stephen A Schwarzman, Chairman, CEO and Co-Founder of Blackstone.
Websites
– Asian Financial 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/main
– Photo obtain: https://little bit.ly/3bJfBk6
About HKTDC
The Hong Kong Trade Improvement Council (HKTDC) is a statutory human body set up in 1966 to market, aid and create Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way world wide expenditure and business hub. The HKTDC organises intercontinental exhibitions, conferences and business enterprise missions to develop small business opportunities for corporations, significantly smaller and medium-sized enterprises (SMEs), in the mainland and international marketplaces. The HKTDC also supplies up-to-day market place insights and merchandise information through trade publications, research stories and electronic news channels. For much more information and facts, remember to pay a visit to: www.hktdc.com/aboutus. Comply with us on Twitter @hktdc and LinkedIn
Media enquiries:
HKTDC’s Communications & Public Affairs Office
Angel Tang, Tel: +852 2584 4544, Electronic mail: angel.hc.tang@hktdc.org
Sam Ho, Tel: +852 2584 4569, E-mail: sam.sy.ho@hktdc.org
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Resource: HKTDC
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