FRIDAY, 5TH MAY, 2023
1:30 PM - 5:50 PM
HONG KONG MONETARY AUTHORITY, 56/F, TWO IFC, CENTRAL, HONG KONG
BACKGROUND
After years of increasing globalization, the last five years have witnessed a seismic shift in global economic relations. The COVID pandemic and the resultant disruptions to global supply chains have heightened concerns about supply security and the preference for nearshoring. More importantly, geopolitical and strategic competition has led to policy driven fragmentation risks for the global economy. Today, global challenges such as climate change are more wide-spread and deeper than before and any sustainable solution requires global cooperation. However, geo-political tensions, including emanating from the war in Ukraine, are likely to make cooperation more difficult.
Meanwhile, the surge in inflation in many countries has resulted in a rapid pace of monetary tightening in the past year, particularly in the US. This has happened after a prolonged period of close-to-zero interest rates, rising debt ratios and increasing, sometime hidden, leverage. Maintaining global financial stability will also require closer cooperation amongst monetary and regulatory authorities. Similarly, with a large swathe of emerging markets and developing countries facing debt difficulties, international efforts to help the highly-indebted economies will be essential.
At the same time, the widespread and rapid pace of digitalization of the global economy has the potential to change gradually the nature of the global economy and deliver more services to most of the global population, including the marginalized groups. But data governance systems, both within economies and across economies, have yet to be developed to cope with the rapid progress of technology. Similarly, investments in green technologies to mitigate climate risk will become increasingly important for mankind and setting the proper governance standards will require more global cooperation.
Against this backdrop, this Conference will offer an opportunity for high-level and in- depth discussion on these issues.
VIDEO
GUEST
Chief Executive of HKSAR
IFF Co-Chairman
Chair of the Council of Presidents of the UN General Assembly
Former Prime Minister of the Republic of Korea
President of New Development Bank
36th President of Brazil
Chairperson of the IFF Sustainable Development Committee
Former Prime Minister of New Zealand
IFF Vice President
Financial Secretary of HKSAR
Vice Mayor of Guangzhou Municipal People's Government
Chief Executive, Hong Kong Monetary Authority
IFF Vice President
Group Chairman of Nan Fung and INED of China Construction Bank
IFF Vice President
Director of IFF Global Center
Former Secretary of the International Monetary Fund
IFF Vice President
Former Chief Representative for Asia and Pacific of Bank for International Settlements
Chief Executive Officer of HK Academy of Finance
Professor of History and International Affairs at the Woodrow Wilson School, Princeton University
IFF Board Member
Chairman of BOCHK Asset Management Limited
IFF Academic Committee Member
Dean of IFF Institute
CFO of CLP Holdings
PRESS RELEASE
5月5日，国际金融论坛（IFF）联合香港金融管理局、香港金融学院，在香港举办了主题为战略竞争时代下的多边主义与全球化以及对亚洲的影响的高级别研讨会暨IFF香港中心成立仪式。此次会议是国际金融论坛（IFF）20周年全球系列活动之一，会议邀请国际政治、金融等领域的政要、领袖和专家学者，共同探讨全球经济面临的地缘政治、债务、通胀以及经济衰退和迫在眉睫的气候
The International Finance Forum (IFF) together with the Hong Kong Monetary Authority (HKMA) and the Hong Kong Academy of Finance hosted on Friday a major conference on multilateralism and globalization as the world faces increased risks in the finance sector and fragmentation. As part of the 20th anniversary global conference series of the IFF, the conference invited political dignitaries, financia
MEDIA REPORTS
HIGHLIGHTS
AGENDA
Moderator:
Kwok-Chuen Kwok, Chief Executive Officer of HK Academy of Finance
Opening Remarks:
John KC Lee, Chief Executive of HKSAR
Han Seung-soo, IFF Co-Chairman, Chair of the Council of Presidents of the UN General Assembly, Former Prime Minister of the Republic of Korea
Paul Chan Mo-po, IFF Vice Chair, IFF Board Member, Financial Secretary of the Hong Kong Special Administrative
Inaugural Ceremony of IFF Hong Kong Center
Plaque unveiled by:
Han Seung-soo, IFF Co-Chairman, Chair of the Council of Presidents of the UN General Assembly, Former Prime Minister of the Republic of Korea
Jenny Shipley, IFF Co-Chair, IFF Board Member, The 36th Prime Minister of New Zealand
Paul Chan Mo-po, IFF Vice Chair, IFF Board Member, Financial Secretary of the Hong Kong Special Administrative
Eddie Yue, Chief Executive, Hong Kong Monetary Authority
Antony Leung, IFF Vice Chair, IFF Board Member, Former Financial Secretary of the Hong Kong Special Administrative Region, CEO of Nan Fung Group
Group photo
— all speakers and leaders
Against this backdrop of the global challenges, what will multilateralism and globalization in an era of strategic competition look like? Is it sustainable? What should we do about it? How would digitalization and green investment shape global economic relations in the new era?
Moderator:
Siddharth Tiwari, IFF Vice President, Former Chief Representative for Asia and Pacific of Bank for International Settlements
Speakers:
Han Seung-soo, IFF Co-Chairman, Chair of the Council of Presidents of the UN General Assembly, Former Prime Minister of the Republic of Korea
Dilma Rousseff, President of New Development Bank, 36th President of Brazil
Jenny Shipley, IFF Co-Chair, IFF Board Member, The 36th Prime Minister of New Zealand
Harold James, IFF Co-Chair, Professor of History and International Affairs at the Woodrow Wilson School at Princeton University
Antony Leung, IFF Vice Chair, IFF Board Member, Former Financial Secretary of the Hong Kong Special Administrative Region, CEO of Nan Fung Group
Asia has been the major beneficiary of globalization during the last fifty years and is expected to lead the world economy in the coming decades. How can Asian economies which rely heavily on global links (trade, investment, financing, technology/knowledge, people flow) adapt to the changing global landscape? What is likely to be the future role of Hong Kong as an international financial center? Can Hong Kong evolve into a knowledge and innovation-based economy? How should the strategic importance of the Greater Bay Area as a financial and digital hub be enhanced?
Moderator:
Lin Jianhai, IFF Executive Vice President, Former Secretary of the International Monetary Fund
Speakers:
Lai Zhihong, Vice Mayor of Guangzhou Municipal People's Government
Speakers:
Eddie Yue, Chief Executive, Hong Kong Monetary Authority
Li Tong, IFF Board Member, CEO & Executive President, Bank of China International
Song Min, IFF Academic Committee Member, Dean of IFF Institute
Nicolas Tissot, CFO of CLP Holdings
