Professor K.C. Chan, Secretary for Financial Services and the Treasury, Invites New York's Financiers to Sample the …
-- Over 250 senior financiers gathered to hear from Professor Chan, Ashley Alder, the Chief Executive Officer of the Securities and Futures Commission of Hong Kong and Peter Pang, Deputy Chief Executive of the Hong Kong Monetary Authority
-- Senior representatives from Allianz Global Investors, BlackRock Asset Management, HSBC Hong Kong, PingAn of China Asset Management and Harvest Global Investments as well as the financial regulators of Hong Kong also spoke about the benefits of doing business in Hong Kong
NEW YORK, March 15,2012 /PRNewswire/ -- Speaking to an audience of over 250 senior financial services executives at the opening of the New York conference, Professor Chan said, "As the world searches for growth, Hong Kong continues to offer unrivalled advantages and opportunities to businesses wanting to seize the Eastern advantage. Hong Kong with its prime location and international connectivity has long been serving as a gateway for businesses into and out of Mainland China.
"As China's premier city for global finance and a tried and trusted testing ground for new ideas throughout China's economic reform, Hong Kong is the natural choice for piloting the liberalisation of the RMB. The three key areas of offshore RMB business that Hong Kong is developing are banking, capital-raising and trade settlement. Our RMB offshore platform is not just for the benefit and convenience of Hong Kong and China. It is designed to benefit everyone who wishes to embrace China's latest development miracle."
Professor K.C. Chan, Secretary for Financial Services and the Treasury of the HKSAR Government, was the keynote speaker at today's conference in New York. His speech was followed by two panel discussions among senior business representatives:
Peter Pang, Deputy Chief Executive of the Hong Kong Monetary Authority, who led the panel discussion on the deepening of Hong Kong's renminbi market, said: "Since the launch of RMB banking in Hong Kong in 2004, RMB deposits in Hong Kong have grown to around RMB 576 billion as at the end of January 2012. That is about 1.6 times the amount a year earlier and is testament to the attractiveness of Hong Kong's unique advantages to businesses the world over."
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Professor K.C. Chan, Secretary for Financial Services and the Treasury, Invites New York's Financiers to Sample the ...
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