Hong Kong Digest nameplate
 
business & economy
Chief Executive emphasizes 'super connector' role at Asian Financial Forum

Hong Kong Chief Executive C. Y. Leung addresses the opening session of the Asian Financial Forum 2016.

Hong Kong Financial Secretary John C. Tsang delivers a keynote speech at the cocktail reception at the Asian Financial Forum 2016.

More than 2,600 influential members of the global financial community gathered in Hong Kong for the 9th Asian Financial Forum (AFF), held January 18-19.

Welcoming guests to this year’s forum, themed “Asia: Shaping the New Paradigm for Growth,” Hong Kong Chief Executive C. Y. Leung outlined Hong Kong’s unique role as the “super-connector” bringing East and West together in pursuit of business and investment opportunities.

Mr. Leung said that Hong Kong would continue to strengthen its financial market infrastructure and talent pool, as well as diversifying Renminbi (RMB) products with a view to grasping the opportunities arising from greater connectivity among Belt and Road economies.

“We will strive to capture the wealth of the Belt and Road and meet the demand for risk management services, professional insurance and reinsurance services, and corporate treasury,” said Mr. Leung.

Hong Kong Financial Secretary John C. Tsang highlighted the government’s incentives to facilitate the development of Hong Kong as a premier center for corporate treasury activities. They include enhancing the existing interest deduction rules for the intra-group financing business of corporations and introducing a concessionary profits tax rate for qualifying corporate treasury centers.

Mr. Tsang said, “Hong Kong gives multinational corporations what they need - superb financial, banking and professional services, as well as deep capital markets for liquidity and portfolio management. Our goal is to make them more efficient - primed to flourish in business here in Asia and around the world.”

Hong Kong Secretary for Financial Services and the Treasury, Professor K. C. Chan, chaired the plenary session on “Asia: Shaping the New Paradigm for Growth”, during which he exchanged insights with panelists on the challenges and opportunities in Asia. Heavyweight speakers  in this session were Russia’s Deputy Prime Minister Arkady Dvorkovich; Luxembourg’s Minister of Finance Pierre Gramegna; Sweden’s Minister for Financial Markets and Consumer Affairs and Deputy Minister for Finance Per Bolund; and Thailand’s Vice Minister for Finance Kiatchai Sophastienphong.

Program highlights of AFF included a policy dialogue chaired by the Chief Executive of the Hong Kong Monetary Authority Norman Chan, along with other central bankers and financial regulators as well as key personnel from financial institutions, who shared their views on the United States’ interest rate normalization process and its impact on financial stability and growth. Former Chairman of the Board of Governors of the United States Federal Reserve System, Dr. Ben S. Bernanke delivered the luncheon keynote remarks on January 19, examining a host of issues, including the implications for global economic growth of the Federal Reserve’s decision to start normalizing interest rates.

The two-day forum is co-organized by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council.

Chairing the plenary session at the Asian Financial Forum, Hong Kong Secretary for Financial Services and the Treasury Professor K. C. Chan (far left) exchanges views with Deputy Prime Minister of the Russian Federation Arkady Dvorkovich (second from left); Minister of Finance of Luxembourg Pierre Gramegna (center); Minister for Financial Markets and Consumer Affairs and Deputy Minister for Finance of Sweden Per Bolund (second from right); and Vice Minister for Finance of Thailand, Mr Kiatchai Sophastienphong, on "Asia: Shaping the New Paradigm for Growth."

Hong Kong Chief Executive C. Y. Leung (front row, center) with speakers and guests of the Asian Financial Forum 2016. Front row, from left: Director General of the Directorate-General for Financial Stability of Financial Services and Capital Markets Union of the European Commission Olivier Guersent; Minister for Financial Markets and Consumer Affairs and Deputy Minister for Finance, Sweden Per Bolund; Minister of Finance of Luxembourg Pierre Gramegna; Chairman of HKTDC Vincent Lo; Deputy Prime Minister of the Russian Federation Arkady Dvorkovich; Mr. Leung; Vice Minister of Foreign Affairs of the People's Republic of China Liu Zhenmin; Hong Kong Financial Secretary John C. Tsang; Vice Minister for Finance of Thailand Kiatchai Sophastienphong; Hong Kong Secretary for Financial Services and the Treasury, Professor K. C. Chan; and Governor of Bank Negara Malaysia Dr. Zeti Akhtar Aziz. Back row, from left: Chairman of the Dubai Financial Services Authority Saeb Eigner; Chief Executive - Greater China of Hongkong and Shanghai Banking Corporation Limited Helen Wong; Chairman of the Hong Kong Exchanges and Clearing Limited Chow Chung-kong; Executive Director of HKTDC Margaret Fong; Hong Kong Permanent Secretary for Financial Services and the Treasury (Financial Services) Andrew Wong; Chair of European Securities and Markets Authority Steven Maijoor; Chairman of Hong Kong Financial Services Development Council Laura M Cha; Chairman of Securities and Futures Commission Carlson Tong; and Deputy Governor of Bank Indonesia, Dr. Hendar.

 


Hong Kong Economic and Trade Office address banner


If you have any questions or comments, write to the Editor at digest@hketony.gov.hk
You may unsubscribe by sending an e-mail to: digest@hketony.gov.hk

Copyright © 2015, Hong Kong Economic & Trade Office in New York