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24 November 2016
2016 CCTV Financial and Economic Forum: Focus on China’s power on global finance reform
Since 2016, global financial market has gone through many ups and downs. In face of potential economic risks, what role will China play in maintaining global financial stability? And how can Hong Kong, being world’s third and Asia’s largest international financial center, play a supporting role to China? These intriguing issues were discussed by the guests at 2016 CCTV Financial and Economic Forum this year.
On the morning of November 24, the 2016 CCTV Financial and Economic Forum, co-hosted by CCTV2, Ta Kung Pao and Ta Kung Net, was held at the InterContinental Hotel Ballroom in Tsim Sha Tsui, Hong Kong.
Mr. John Tsang Chun-wah, Financial Secretary of the HKSAR, started his speech by sharing with the audiences his experiences and vision at this year’s G20 Leaders’ Summit, saying “all representatives are eager to build a more stable and resilient international financial architecture to confront economic risks and prevent crises." Mr. Tsang anticipated that Hong Kong will continue to insist on rigorous and fair regulation of the market and assess potential financial risks in order to play a greater role of connecting the Mainland and international financial markets.
Mr. John Tsang Chun-wah, Financial Secretary of the HKSAR, delivering a speech
Compared to previous years, this year’s financial forum was more professionally facilitated. Mr Chen Wei-hong, host of CCTV Financial Channel, wittingly enquired the guests what currency of coins they each had with them, and used that as reference to the new dynamics and phenomenon of the financial global market.
(from left to right) Mr Chen Weihong, Host of CCTV Financial Channels, Ms Cui Li，
Macro Research Director & Managing Director of CCB International, Mr Zhu Haibin, China Chief economist & Managing Director of JP Morgan Chase, Ms Tan Yaling, Dean of China Forex Invest Research Institute, Mr Shen Jianguang, Chief economist & Managing Director of MIZUHO SECURITIES ASIA LIMITED, Mr Francis T. Lui, Professor of economics, HKUST
Finance is like “a double-edged sword”. If used properly, it can effectively promote economic and social development, but if misused, it can leave a devastating impact on national or even global economy. During the first session, each of the guests contributed in summing up some of 2016 major events in the global financial market including the Brexit referendum, the US presidential election and the yuan’s SDR inclusion, which offered a conflicting picture of both opportunities and challenges that the global economy presents.
All the guests summing up the remarkable events in 2016 global financial market
Mr Kit Szeto, Director & CEO of Dim Sum TV, attended the 2016 CCTV Financial and Economic Forum and introduced to the guests the media industry and the corporate culture of Dim Sum TV.
Mr Kit Szeto, Director & CEO of Dim Sum TV, signing autograph at the forum
Mr Kit Szeto and Ms Feng Lu, Project Director of CCTV Business Channel Brand Management Group, exchanging contacts and ideas
(from left to right) Mr Kit Szeto，Mr Lo Sui-on, Vice Chairman of China Travel International Investment Hong Kong Limited and Mr Yuen Mo, Vice-chairman of CGCC
Mr Kit Szeto and Mr Wong K.K. Chairman & CEO of Kum Shing Group
At the end of the forum, the guests concluded China’s financial market in 2016 with five Chinese characters, “change, darkness, difficulty, breakthrough, extraordinary”. The forum not only analyzed the development of the global financial landscape, but more importantly, it imparted ideas on how Hong Kong can strengthen the co-operation with Mainland China and how Chinese enterprises can overcome the obsolete rules to exploit new market opportunities.
The guests drew a conclusion to China’s financial market with five words: “change, darkness, difficulty, breakthrough, extraordinary”.
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