The US aims to stay ahead in the digital economy, or Internet of Things, as that relates to the financial services industry, according to Stefan Selig, US Under Secretary of Commerce – with the strategy forming part of the US government’s trade pivot to Asia. Following a seminar at the Asian Financial Forum, Mr Selig says the important category of “digital capital” is constantly changing, portable, global and evolving quickly. So it is critical to stay ahead in this sector: by 2030 some two trillion Asians will join the middle class, representing significant trade opportunities for the US. As part of that approach he says Hong Kong is highly significant, as the ninth largest export partner of the US.
Speaker: Stefan Selig, US Under Secretary of Commerce
Date: 21 Jan 2015
Duration: 03:09
Corporate Finance Association Sets Up in Hong Kong
Responding to Hong Kong’s growing stature as a centre for corporate finance, the German-based international Corporate Finance Association (corpfina) has set up a representative office in Hong Kong to provide support for the burgeoning debt and equity capital markets. Speaking following a seminar at the Asian Financial Forum, the Association’s President Ruediger Theiselmann says Hong Kong is the world’s second largest centre for initial public offerings, while some 60 per cent of the Chinese mainland’s specialised “dragon” corporate investment transactions are made through the SAR.
Speaker: Dr Ruediger Theiselmann, President, Managing Director, Corporate Finance Association (corpfina)
Date: 20 Jan 2015
Duration: 03:48
Huge injection of spending on Asia’s Healthcare
Asian spending on healthcare is set to accelerate dramatically over the next 20 years to meet the gap between expectations and delivery, predicts Abu Bakar Suleiman, Chairman of IHH Health Bhd. Speaking after his appearance at the Asian Financial Forum (AFF) in Hong Kong, Mr Suleiman said healthcare spending in China is growing at 16 per cent annually, compared with 5 per cent in many developing countries. He also singled out Hong Kong in Asia for its excellent public sector services and innovation.
Speaker: Tan Sri Dato’ Dr Abu Bakar Suleiman, Chairman, IHH Health Bhd
Asia Ultimate "Heartland" of Global Economy: Prof Paul Krugman
China’s economic prospects could be "very scary" in the near-term, but the nation’s large population should ultimately ensure Asia becomes the "heartland" of the world economy, according to Professor Paul Krugman of Princeton University. The Nobel-prize winning economist spoke to the HKTDC during the Asian Financial Forum (AFF), 19-20 January 2015 in Hong Kong.
Bank of Russia: country’s GDP decline will be mild
After low stabilization of its currency, Russia faces a GDP decline in 2015, says the First Deputy Governor of the Bank of Russia. But this should be milder than in 2008/09 during the country’s significant recession, predicts Ksenia Yudaeva. Speaking at the side of the Asian Financial Forum, Ms Yudaeva also says this is the right time for greater investment between Russia and Asia, with Hong Kong as a centre for huge business potential.
Speaker: Ksenia Yudaeva, First Deputy Governor, Bank of Russia
Financial Secretary: Swiss Financial Crisis underlines Dollar Peg
The financial fallout following the Swiss Franc’s withdrawal from its link with the Euro, indicates that now is a good time to reinforce Hong Kong’s peg with the US dollar, says Hong Kong SAR Financial Secretary, John Tsang. Speaking beside the Asian Financial Forum 2015, Mr Tsang says the Hong Kong government has no intention of changing the SAR’s linked rate. While 2015 will be a challenging year, Hong Kong is safeguarded by the developing regional economy and the market-focused Shanghai-Hong Kong Connect could be extended to Shenzhen, while providing other financial instruments such as derivatives, says Mr Tsang.
Speaker: John Tsang, Financial Secretary, Hong Kong SAR Government
Philippine GDP growth should continue at between 6% and 7% over the next three years, says Teresita Sy-Coson, Vice Chairwoman with SM Investments. Speaking at the side of the Asian Financial Forum, Ms Sy-Coson says greater FDI investment would be welcome from Hong Kong, particularly in the services, manufacturing, IT and power sectors.
Speaker: Teresita Sy-Coson, Vice Chairwoman, SM Investments
The exuberant European markets of the moment run risks of over-evaluation, and the incoming regulatory framework will allow the European Securities and Markets Authority to monitor their performances, says that body’s Chair, Steven Maijoor. Speaking beside the Asian Financial Forum 2015, he says the Hong Kong securities market is very important for asset management, and among those in the vanguard of developing links with Europe. Europe’s regulatory reforms are adding a “sustainability” factor that has not existed over the past year.
Speaker: Steven Maijoor, Chair, European Securities and Markets Authority
Moderate Economic Growth in 2015: Yasuhiro Sato of Mizuho
In spite of possible deflation in the Eurozone, the global economy should be able to post moderate growth in 2015 driven by strong performance from the United States and Asia, according to Yasuhiro Sato, president and CEO of Japan’s Mizuho Financial Group Ltd. Mr Sato spoke to the HKTDC ahead of his trip to Hong Kong for the 19-20 January 2015 Asian Financial Forum, where he will take part in a panel on the global economy and long-term investment.
AFF 2015: Indian growth may rise to 5.7% this year
Supporting the Indian government’s policies on industry and exports, IT pioneer Narayana Murthy is hopeful the country’s GDP growth will rise to between 5.5% and 5.7% in 2015; he is bullish on India’s growth rate continuing to rise to between 7% and 8% over the next few years. The Founder of India’s Infosys expects the government IT programme could see tangible results after three to five years, while greater technology partnerships between Indian and Chinese companies would see significant global effects, with products at attractive prices. Mr Murthy regards Hong Kong as the world’s best example of a free market economy and advises Indian firms wishing to leverage China business to use Hong Kong as an IT hub.
Philippine consumer demand continues to rise on the country’s upbeat economic progress and as more people enter the middle class, according to Tony Tan Caktiong, Chairman of Jollibee Foods Corporation. The country joins China, Vietnam, Indonesia and India as among the region’s best potential markets for growth. Mr Tan says AFF 2015 will bring greater attention and insight to the region’s dynamics. Joining the Forum, Mr Tan developed Philippine-based Jollibee into an international food retailer from two ice cream parlours in 1975.
Speaker: Tony Tan Caktiong, Chairman, Jollibee Foods Corporation
Lower oil prices present a fundamental change in the international economic picture, says Michael Diekmann, Chairman and CEO of Allianz Group. Ahead of attending the Asian Financial Forum 2015 in Hong Kong, Mr Diekmann says that among shorter-term issues, lowering oil prices could well influence international energy prices and global competition. The head of one of the largest international insurers says the global aging demographic provides the insurance industry with a huge boost for retirement planning, a trend he has not seen in many years. One of the insurance industry’s greatest challenges is digitalisation, offering huge opportunities for efficiencies.
Speaker: Michael Diekmann, Chairman and CEO, Allianz Group
Growing investment focus on social impact, e-commerce: Deloitte
Social impact and the value of e-commerce are two increasingly key considerations for investors building portfolios in Asia, according to Hong Kong-based experts from business services provider Deloitte. Chris Harvey, Global Leader of Financial Services, and Tim Pagett, China Financial Services Industry Leader, spoke to the HKTDC ahead of Deloitte’s participation in the 2015 Asian Financial Forum. The pair set the stage for an AFF panel they will host at the 19-20 January event – where the “internet of things” and “impact investing” will be key topics.
Speakers: Chris Harvey, Global Leader Financial Services, Deloitte Tim Pagett, Financial Services Industry Leader, Deloitte China
AFF 2015 Day 2: Breakfast Panel and Workshop Highlights
Hong Kong’s role as a prominent asset and wealth management centre was the key topic in a breakfast panel at the Asian Financial Forum (AFF) 2015 in Hong Kong. On January 20, the Forum also included a full day of deal flow matchmaking sessions and a series of concurrent workshops on topics such as RMB internationalisation and healthcare investment.
Date: 23 Jan 2015
Duration: 04:51
AFF 2015 Day 1: Panel Discussion Highlights
Sustainability continued to be the primary theme as finance professionals and policy makers took part in a series of panel discussions and a keynote luncheon address at the 2015 Asian Financial Forum (AFF) in Hong Kong. The afternoon of the opening day included a speech by the International Monetary Fund’s Economic Counsellor and Research Department Director Dr Olivier Blanchard, followed by panelists exploring opportunities in Asia, the China mainland and globally.
Date: 20 Jan 2015
Duration: 05:48
AFF 2015 Day 1: Policy Dialogue & Keynote Highlights
Finding a balance between growth and stability was a key problem discussed by financial policy makers taking part in a policy dialogue at the Asian Financial Forum (AFF) 2015 in Hong Kong. The 11am session on 19 January was followed by a luncheon keynote speech featuring International Monetary Fund (IMF) Economic Counsellor and Director, Research Department, Olivier Blanchard, who put a spotlight on recent optimism about the US economy.
Hong Kong welcomed more than 2,400 people to the Asian Financial Forum (AFF) 2015 in Hong Kong, where over 100 distinguished speakers from around the world explored topics related the theme, "Asia: Sustainable Development in a World of Change." Find more videos including exclusive interviews from AFF at: http://www.asianfinancialforum.com