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  • The Treasury Markets Summit 2016, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (Tuesday) in Hong Kong …
    TMS2016
    TMS2016_001
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    06 SEP
    2016

    Treasury Markets Summit 2016

    The Treasury Markets Summit 2016, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (Tuesday) in Hong Kong.


    In his keynote address to the Summit, Mr Norman T.L. Chan, Chief Executive of the HKMA, shared his view on what it takes to build a “Hong Kong Brand” for financial services. He emphasised the importance of building a “Brand” that represents “quality” and “credibility”, adding that the enhancement of “quality” has become even more relevant and important in capturing opportunities arising from Mainland China’s Belt and Road Strategy and Fintech innovations. To further facilitate Fintech development in Hong Kong, Mr Chan announced that the HKMA would be launching two initiatives, namely, the Fintech Innovation Hub and Fintech Supervisory Sandbox. He concluded that the Hong Kong financial sector should also enhance the “credibility” attribute with a view to winning the trust of customers, and that the public and private sectors should join hands to accomplish these missions.


    The Summit’s panels focused on various facets of Hong Kong’s financial and treasury markets, including how to sharpen Hong Kong’s unique edge in the Belt and Road Strategy, the new normal of treasury markets, and the opportunities and challenges brought by Fintech to treasury operations.


    Speakers at the Summit included Mr Eddie Yue, Deputy Chief Executive of the HKMA and Director of Infrastructure Financing Facilitation Office (IFFO); Mr Rayson Chung, Managing Director, Head of Investments, Chief Investment Office, Asia Pacific of JPMorgan Chase Bank, National Association; and Mr Scott Likens, Partner, Data and Analytics Consulting Leader of the PricewaterhouseCoopers China and Hong Kong.


    The Summit was attended by over 350 local and overseas participants, including representatives from regulatory authorities, the Government, treasury market practitioners, asset owners and managers as well as senior executives and professionals from banks, other financial institutions and corporates.


    Hong Kong Monetary Authority
    Treasury Markets Association
    6 September 2016


  • The Boao Forum for Asia (BFA) and the Hong Kong Monetary Authority (HKMA) co-organised the Financial Cooperation Conference today (Tuesday) in Hong Kong.
    BOAO
    BOAO_001
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    05 JUL
    2016

    The Boao Forum for Asia and the Hong Kong Monetary Authority Co-organise the Financial Cooperation Conference

    The Boao Forum for Asia (BFA) and the Hong Kong Monetary Authority (HKMA) co-organise the Financial Cooperation Conference today (Tuesday) in Hong Kong. The theme of the Conference is “Stimulating Growth in the Real Economy: the Role of Finance”. The Chief Executive Mr C Y LEUNG and the Financial Secretary Mr John C TSANG addressed the launch ceremony and luncheon respectively. The five sessions of the Conference were devoted to economic and financial issues of wide concern, including monetary policy and economic growth, cross-border capital flows, infrastructure and its financing, and Asian financial cooperation, etc. Participants shared their valuable views and advice at the sessions.


    In his speech delivered at the luncheon of the Conference, Mr John C TSANG said that Asia, and in particular China, will continue to be the main engine of growth for the world economy in the 21st century. With its enviable location at the heart of Asia and its extensive economic and cultural connections, Hong Kong can play a unique role directing capital between Asia and the rest of the world, and further profit from Asia’s continued ascendancy.


    In his welcoming remarks, Mr ZHOU Wenzhong, Secretary General of the BFA, said, “Financial cooperation is a major key and entry point for promoting the integration of Asian economies. Since the outbreak of the sub-prime crisis in 2007, a strong thrust for global growth has been lacking. Themed on financial cooperation, the Conference in Hong Kong seeks to bring forth innovative solutions through brainstorming among regulators, finance community and real economy actors, with a view to enhancing the role of finance in the development of the real economy. Various topics, such as how to avert liquidity traps with the deployment of monetary policies, how emerging economies can deal with the impact of capital flows, and how finance may serve the needs of infrastructure, will be considered. Besides, with the UK’s vote on leaving the European Union, attention now also focuses on the path ahead for Asian financial cooperation.”


    Mr Norman TL CHAN, Chief Executive of the HKMA, said, “It is our privilege to co-organise this large-scale Conference with the BFA. It marks the first major public event following the formal launch of the HKMA’s Infrastructure Financing Facilitation Office. In bringing together senior representations of financial institutions and multilateral organisations from around the world, the Conference provides an exciting chance to explore the development prospects of infrastructure investment and financing from both policy and business perspectives. This will help foster a greater understanding and interest of various stakeholders in the infrastructure investment and financing opportunities under the Belt and Road initiative.”


    Other guests and speakers attending the Conference included (in alphabetical order of their last names) Mr Samir ASSAF, Chief Executive of the Global Banking and Markets of the HSBC; Mr Shaukat AZIZ, former Prime Minister of Pakistan; Mrs Laura M CHA, Chairman of the Financial Services Development Council; Mr Victor FUNG, Chairman of the Fung Group; Mr Stephen P. GROFF, Vice President of the Asian Development Bank; Ms HU Xiaolian, Chairman of the Export-Import Bank of China; Mr JIN Liqun, President of the Asian Infrastructure Investment Bank; Mr Philippe LE HOUÉROU, CEO of the International Finance Corporation; Mr Mark MACHIN, President and Chief Executive Officer of the Canada Pension Plan Investment Board; Ms WU Xiaoling, Vice Chairperson, Financial and Economic Affairs Committee of the National People’s Congress of China; and Mr ZHENG Zhijie, President of the China Development Bank.


    The Conference received encouraging response, attracting some 250 participants including representatives from regulatory authorities, international bodies, financial institutions, multinational corporations and academia from different countries.

     




    Boao Forum for Asia
    Hong Kong Monetary Authority
    5 July 2016

  • Hong Kong, July 4, 2016— The ability of investors, banks and the financial sector to facilitate investment in infrastructure projects in Asia was strengthened today when International Finance Corporation (IFC), a member of the World Bank Group, and the Hong Kong Monetary Authority (HKMA), signed a Memorandum of Understanding (MoU) establishing a strategic framework of co-operation.
    IFC
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    04 JUL
    2016

    IFC and Hong Kong Monetary Authority sign MoU on infrastructure financing facilitation

    Hong Kong, July 4, 2016— The ability of investors, banks and the financial sector to facilitate investment in infrastructure projects in Asia was strengthened today when International Finance Corporation (IFC), a member of the World Bank Group, and the Hong Kong Monetary Authority (HKMA), signed a Memorandum of Understanding (MoU) establishing a strategic framework of co-operation. The MoU was signed shortly before the launch ceremony of the Infrastructure Financing Facilitation Office (IFFO) of the HKMA.


    As part of its missions, IFFO will facilitate information exchange and experience sharing among the key stakeholders, such as multilateral development agencies, private equity funds, sovereign wealth funds and banks.


    Under the MoU, IFC and the HKMA will cooperate in using the IFFO platform to promote a more efficient and conducive market environment for infrastructure investment and financing in the region.


    Philippe Le Houérou, Executive Vice President and CEO of IFC, said, “Asia is becoming increasingly urbanized and infrastructure in areas such as energy, water and transportation will be critical for securing inclusive and sustained economic growth. We welcome this opportunity of putting our six decades of experience in private sector development to use with the IFFO.”

    Norman TL Chan, Chief Executive of the HKMA, said, “I look forward to having strategic collaboration with IFC. With IFC’s deep experience in infrastructure projects in the emerging markets, and its vast network with multilateral groups and infrastructure developers and operators, there will be significant synergy between IFC and IFFO.”


    About IFC

    IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with 2,000 businesses worldwide, we use our six decades of experience to create opportunity where it’s needed most. In FY15, our long-term investments in developing countries rose to nearly $18 billion, leveraging our capital, expertise and influence to help the private sector end extreme poverty and boost shared prosperity. For more information, visit www.ifc.org.


    About IFFO

    As part of the HKMA, IFFO’s mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:


    • providing a platform for information exchange and experience sharing;

    • building capacity and knowledge on infrastructure investments and financing;

    • promoting market and product development; and

    • facilitating infrastructure investment and financing flows.


    For more information about IFFO, please visit http://www.iffo.org.hk.




    International Finance Corporation
    Hong Kong Monetary Authority
    4 July 2016

  • Mr Chris Heathcote, Chief Executive Officer of the Global Infrastructure Hub (GI Hub), and Mr Norman TL Chan, Chief Executive of the Hong Kong Monetary Authority (HKMA), signed a Memorandum of Understanding (MoU) today (4 July 2016) with respect to establishing a strategic framework of co-operation to facilitate the financing of infrastructure projects.
    GInfrastructureHub
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    04 JUL
    2016

    Global Infrastructure Hub and Hong Kong Monetary Authority sign MoU on infrastructure financing facilitation

    Mr Chris Heathcote, Chief Executive Officer of the Global Infrastructure Hub (GI Hub), and Mr Norman TL Chan, Chief Executive of the Hong Kong Monetary Authority (HKMA), signed a Memorandum of Understanding (MoU) today (4 July 2016) with respect to establishing a strategic framework of co-operation to facilitate the financing of infrastructure projects. The MoU was signed today shortly before the launch ceremony of the Infrastructure Financing Facilitation Office (IFFO) of the HKMA.


    GI Hub and the HKMA share the same vision that, with coordinated multilateral efforts, the significant funding gap in infrastructure development can be narrowed.


    Under the MoU, GI Hub and the HKMA will closely collaborate on initiatives to promote quality, bankable infrastructure projects through advancing capacity building, exchanging of information and best practices, and facilitating infrastructure financing transactions.


    Mr Heathcote said, “the GI Hub is pleased to sign this Memorandum of Understanding. We look forward to future collaboration with the HKMA via the IFFO platform to help promote the development of efficient infrastructure finance markets and grow the global pipeline of quality, bankable infrastructure projects.”

    Mr Chan said, “I look forward to closer collaboration between GI Hub and IFFO in promoting infrastructure investment and financing in the region. With our joint effort, Hong Kong can play a catalytic role in facilitating more efficient investment flows into infrastructure projects in the region.”


    About GIH

    The GI Hub is a not-for-profit organisation registered under Australian law and was established by the Commonwealth Government of Australia, in accordance with decisions taken at the G20 Leaders’ Summit held in Brisbane on November 15-16, 2014, with the objectives of (i) lowering barriers to investment, increase the availability of investment-ready projects, help match potential investors with projects and improve policy delivery; and (ii) working collaboratively with governments, the private sector, national, regional and multilateral development banks, international organisations and other stakeholders. For more information about GI Hub, please visit http://www.globalinfrastructurehub.org.


    About IFFO

    As part of the HKMA, IFFO’s mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:


    • providing a platform for information exchange and experience sharing;

    • building capacity and knowledge on infrastructure investments and financing;

    • promoting market and product development; and

    • facilitating infrastructure investment and financing flows.


    For more information about IFFO, please visit http://www.iffo.org.hk.




    Global Infrastructure Hub
    Hong Kong Monetary Authority
    4 July 2016

  • The Hong Kong Monetary Authority (HKMA) launches the Infrastructure Financing Facilitation Office (IFFO) today (4 July) to promote development of Hong Kong as an infrastructure financing hub.
    HKMA
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    04 JUL
    2016

    HKMA launches Infrastructure Financing Facilitation Office (IFFO)

    The Hong Kong Monetary Authority (HKMA) launches the Infrastructure Financing Facilitation Office (IFFO) today (4 July) to promote development of Hong Kong as an infrastructure financing hub.


    The launch of IFFO was officiated by Mr John C Tsang, the Financial Secretary of Hong Kong, and Mr Norman TL Chan, Chief Executive of the HKMA. The guest of honour was Mr Chen Yuan, Vice-Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference. Other guest speakers at the launch were Mr Jin Liqun, President of the Asian Infrastructure Investment Bank, Mr Philippe Le Houérou, Executive Vice President and Chief Executive Officer of the International Financial Corporation, a member of the World Bank group, and Dr Victor Fung, Chairman of Fung Group and Advisor of IFFO. The launch of IFFO was attended by well over 100 guests, including around 40 Partners of IFFO which include multilateral development banks and agencies, public sector investors, project developers and operators, commercial banks, asset managers and professional service firms from the Mainland of China, Hong Kong and overseas.


    IFFO is an integral part of the HKMA. Its mission is to facilitate infrastructure investments and their financing by working with a cluster of key stakeholders. The functions of IFFO are:


    • providing a platform for information exchange and experience sharing;

    • building capacity and knowledge on infrastructure investments and financing;

    • promoting market and product development; and

    • facilitating infrastructure investment and financing flows.


    In his opening address at the launch of IFFO, Mr Tsang said, “With its unparalleled connections with the Mainland and other markets worldwide, as well as its wide-ranging prowess as the regional international financial centre, Hong Kong is well-placed to serve as the centre for fundraising, project financing and asset-management for infrastructure projects in the region.”


    In his remarks, Mr Chan said, “As the premier international financial centre in Asia and the global hub for offshore RMB businesses, Hong Kong is uniquely well positioned to play a crucial role in facilitating the implementation of the Belt and Road Strategy.


    On the same day, the HKMA signed two memorandums of understanding respectively with the International Finance Corporation and Global Infrastructure Hub to strengthen co-operation, capacity-building and facilitation of infrastructure financing transactions (see separate press releases).


    The inaugural public event of IFFO will be a high-level conference, co-organised with the Boao Forum for Asia, to be held tomorrow (5 July) in Hong Kong. The conference carries the theme of “Stimulating Growth in the Real Economy: the Role of Finance” and will explore, among other current topics, how infrastructure investments can promote economic development.


    More information about IFFO’s work and its partners can be found in the attached IFFO factsheet and IFFO’s official website (www.iffo.org.hk).




    Hong Kong Monetary Authority
    4 July 2016

  • The Boao Forum for Asia (BFA) will co-organise the Financial Co-operation Conference with the Hong Kong Monetary Authority (HKMA) in Hong Kong on 4-5 July 2016
    The Boao Forum for Asia and the Hong Kong Monetary Authority
    28 JUN
    2016

    The Boao Forum for Asia and the Hong Kong Monetary Authority Co-organise the Financial Cooperation Conference in Hong Kong Focused on Monetary Policy, Capital Flows, Infrastructure Financing and Financial Cooperation in Asia

    The Boao Forum for Asia (BFA) will co-organise the Financial Co-operation Conference with the Hong Kong Monetary Authority (HKMA) in Hong Kong on 4-5 July 2016. The Conference will explore in depth monetary policy, capital flows, infrastructure financing and Asia financial co-operation, currently among the major economic and financial concerns. Mr LEUNG Chun-ying, Chief Executive of the Government of the Hong Kong Special Administrative Region and Mr John C TSANG, Financial Secretary will attend and address the launch ceremony and luncheon respectively.


    The theme of the Conference is the role of finance in stimulating growth in the real economy and aims to explore new approaches to achieving this from four different angles, namely monetary policy, capital flows, infrastructure financing and financial cooperation in Asia.


    Asia-pacific and regional state leaders, heads of international organisations, financial regulatory officials and global business leaders including Mr Shaukat AZIZ, former Prime Minister of Pakistan; Mr JIN Liqun, President of the Asian Infrastructure Investment Bank; Mr Philippe LE HOUEROU, CEO of the International Finance Corporation; Mr Stephen P. GROFF, Vice President of the Asian Development Bank; Ms WU Xiaoling, Vice Chairperson, Financial and Economic Affairs Committee of the National People’s Congress of China; Mr Norman TL CHAN, Chief Executive of the HKMA; Mrs Laura M Cha, Chairman of the Financial Services Development Council; and Mr Victor FUNG, Chairman of the Fung Group will attend the Conference.


    Participants from the financial sector include Ms HU Xiaolian, Chairman of the Export-Import Bank of China; Mr ZHENG Zhijie, President of the China Development Bank; Mr Mark MACHIN, President and Chief Executive Officer of the Canada Pension Plan Investment Board; Mr CHEN Siqing, President of the Bank of China; Mr Samir ASSAF, Chief Executive of the Global Banking and Markets of the HSBC; Mr Warwick SMITH, Chairman of China of the Australia New Zealand Banking Group Ltd; and Mr David WRIGHT, Vice Chairman of Barclays.


    Renowned economists including Mr LI Jiange, Chairman of the Board of Trustees of the Sun Yefang Foundation and Mr Andrew SHENG, Chief Adviser to the China Banking Regulatory Commission will also attend.


    Subjects for discussion in the Conference are at Annex.


    About the Boao Forum for Asia


    As one of the foremost business-government dialogue platforms for Asia and emerging economies, the BFA convenes its Annual Conference in Boao, Hainan, China – a four-day brainstorming event focused on the most strategic and pressing issues of Asia and emerging markets, where participants will share their insights and solutions regarding these issues. Committed to promoting the economic integration of Asia, the BFA also holds annual conferences dedicated to the two topics of financial cooperation and energy & resources as part of its effort to facilitate the integration process.


    About the Hong Kong Monetary Authority


    The HKMA is the government authority in Hong Kong responsible for maintaining monetary and banking stability. The HKMA’s major functions are

    • to maintain currency stability within the framework of the Linked Exchange Rate System

    • to promote the stability and integrity of the financial system, including the banking system

    • to help maintain Hong Kong’s status as an international financial centre, including the maintenance and development of Hong Kong’s financial infrastructure

    • to manage the Exchange Fund.

     



    Boao Forum for Asia
    Hong Kong Monetary Authority
    28 Jun 2016

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