Global Financial Experts Gather to Discuss the Theme of Asia: Shaping the New Paradigm for Growth”
18 January 2016 – Co-organised by the Hong Kong Special Administrative Region (HKSAR) Government and the Hong Kong Trade Development Council (HKTDC), the ninth edition of the annual Asian Financial Forum (AFF) opened today at the Hong Kong Convention and Exhibition Centre. This year’s theme of the two-day AFF is “Asia: Shaping the New Paradigm for Growth”. More than 90 financial experts from around the world will speak during the forum, offering insights on the global economy from the Asia perspective as well as analysis of the international investment environment and related opportunities.
Speaking at the opening ceremony of the AFF, Vincent HS Lo, Chairman of the HKTDC, said: “We are faced with geopolitical unrest, volatile financial markets, declining commodity prices and a slowing China and Asia. Clearly it is still a challenge for the world to have a sustainable economic recovery – and policy-makers and businesses have had to make tough decisions faster than ever. Today as we open the ninth edition of AFF, we continue to search for an impetus that is strong and lasting enough to overcome these challenges. I believe Asia and China continue to fuel the global economic engine, even at a slower rate. From a wider perspective, the Belt and Road Initiative will be another key driver.”
Delivering his opening remarks, CY Leung, Chief Executive of the HKSAR Government, said: “This year’s Forum theme – ‘Asia: Shaping the New Paradigm for Growth’ – captures Hong Kong’s singular ability to bring East and West together in pursuit of business and investment opportunities. Call us the ‘super-connector’, connecting the rest of China and the rest of the world, powered by the winning formula comprising ‘one country’ and ‘two systems’.”
Senior officials from different countries share insights
Arkady Dvorkovich, Deputy Prime Minister of the Russian Federation, and Liu Zhenmin, Vice Minister of Foreign Affairs of the People’s Republic of China, were the keynote speakers at the opening session. Meanwhile, the plenary session, chaired by Prof KC Chan, Secretary for Financial Services and the Treasury of the HKSAR Government, featured senior government officials including Mr Dvorkovich, Pierre Gramegna, Minister of Finance, Luxembourg, Per Bolund, Minister for Financial Markets and Consumer Affairs; Deputy Minister for Finance, Sweden, and Kiatchai Sophastienphong, Vice Minister for Finance, Thailand. They provided Asian and European perspectives on how countries in Asia can achieve sustainable economic development and help foster global economic growth through structural policy and economic adjustments.
Meanwhile, the decision by the United States Federal Reserve System last December to raise interest rates for the first time in nearly a decade was the main topic of discussion during the Policy Dialogue chaired by Norman Chan, Chief Executive of the Hong Kong Monetary Authority. The dialogue featured speakers Dr Zeti Akhtar Aziz, Governor of Bank Negara, Malaysia, Steven Maijoor, Chair of the European Securities and Markets Authority, Dr György Matolcsy, Governor of Magyar Nemzeti Bank, Hungary, Olivier Guersent, Director General of the Directorate-General for Financial Stability, Financial Services and Capital Markets Union of European Commission, and Saeb Eigner, Chairman of Dubai Financial Services Authority, to analyse the impact of the normalisation of US monetary policy on economies worldwide.
Belt and Road opportunities spotlighted at AFF
During today’s Keynote Luncheon, business and thought leaders including Ronnie Chan, Chairman, Hang Lung Properties Limited, Prof Liu Mingkang former Chairman, China Banking Regulatory Commission, and Mr Lo, Chairman of the HKTDC, analysed the challenges and opportunities related to China’s Belt and Road Initiative. The Belt and Road theme continues at tomorrow’s Breakfast Panel, sponsored by Hong Kong’s Financial Services Development Council. Under the title of “Hong Kong: Your Super-Connector to the Belt and Road Initiative”, panellists will investigate how Hong Kong’s financial services sector can make use of its strategic advantages to grasp the opportunities arising from the Belt and Road Initiative.
The Belt and Road Initiative will also be a special focus of the inaugural Global Investment Summit to be launched at the AFF tomorrow. During the Global Investment Summit, high-level speakers will provide intelligence on the global investment environment and identify promising emerging investment opportunities, including those related to the Belt and Road. The Summit’s two panel discussions will focus on the global investment landscape and Chinese outbound investment respectively.
Chinese mainland and ASEAN market opportunities
Regional opportunities took centre stage at this afternoon’s panel discussions, during which prominent business leaders examined global economic development, investment opportunities, and investment strategies, with particular focus on the Chinese and ASEAN economies. Speakers included Stuart Gulliver, Group Chief Executive, HSBC Holdings plc, Piyush Gupta, Chief Executive Officer, DBS Group, Jean Lemierre, Chairman, BNP Paribas, Peter Brabeck-Letmathe, Chairman of the Board, Nestlé S.A., Chairul Tanjung, Founder and Chairman, CT Corp, Wang Jianlin, Chairman, Dalian Wanda Group, Wishnu Wardhana, President Director and Group CEO, PT. Indika Energy Tbk, and Yue Yi, Vice Chairman and Chief Executive, Bank of China Hong Kong (Holdings) Limited.
The HKTDC has also organised dialogue sessions for participants to interact with speakers on selected topics. The dialogue featuring Mr Brabeck-Letmathe, Chairman of the world’s largest food and beverage company Nestlé, focused on food and water security, while the session with Mr Wang, Chairman of the Dalian Wanda Group, a dominant force in the e-commerce market in recent years, shared his views on Internet finance and O2O business.
Ben Bernanke to speak at keynote luncheon
The highly anticipated Keynote Luncheon tomorrow features Dr Ben S. Bernanke, Federal Reserve System Chairman (2006-2014) as the keynote speaker. Dr Bernanke will share his views on how the normalisation of US monetary policy will affect the global economy, and analyse the impact of divergent interest rate and currency policies in different countries on the global economy and capital flows. Dr Bernanke will also participate in the Dialogue Session, interacting with participants and responding to their questions.
Meanwhile, a Panel Discussion tomorrow morning co-organised with Cyberport, will discuss the transformative impact of big data, financial technology and e-commerce. Concurrent thematic workshops will focus on a range of topics from China’s hosting of the G20 Summit this year, to renminbi internationalisation and corporate treasury, private wealth management, shifting supply chains in the region and women leadership in finance and business in Asia.
AFF Deal Flow: facilitating investment partnerships
The popular AFF Deal Flow Matchmaking Session returns tomorrow, co-organised by the HKTDC and the Hong Kong Venture Capital and Private Equity Association. AFF Deal Flow is a unique matchmaking event, arranging meetings between investors for project owners, bringing together investment project owners, private equity firms, companies, corporate investors, high net-worth individuals and professionals from intermediaries and professional services providers. Project Presentations and a Roundtable Networking Area will also highlight industries with strong investment potential, including projects related to the food and agriculture, financial technology, manufacturing technology and environmental technology sectors. Last year’s AFF Deal Flow successfully arranged more than 500 meetings involving over 180 investment projects from 22 countries and regions, enabling participants to connect with potential business partners from around the world.
Websites:
Asian Financial Forum Website: http://www.asianfinancialforum.com/en/
International Financial Week Website: http://www.internationalfinancialweek.com
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. With more than 40 offices globally, including 13 on the Chinese mainland, the HKTDC promotes Hong Kong as a platform for doing business with China and throughout Asia. The HKTDC also organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in overseas markets, while providing information via trade publications, research reports and digital channels including the media room. For more information, please visit: www.hktdc.com/aboutus.