The Hong Kong–ASEAN Summit 2015, themed under “The New ASEAN Economy Under ‘One Belt, One Road”, brought together Consular representatives, trade association leaders and entrepreneurs from Asian countries, as well as Hong Kong’s leaders in political and financial sectors, academia, and experts in economic research, to explore the latest trends in the ASEAN market, international import and export strategies, and the way forward for the global economy. We were honoured to have the presence of The Hon Gregory SO Kam-leung, GBS, JP, Secretary for Commerce and Economic Development, HKSAR, to deliver the keynote speech at the luncheon and share his visions of Hong Kong’s role under the “One Belt, One Road” policy.
The Hong Kong–ASEAN Summit 2015 consisted of speech sessions and group discussions. The summit kicked off with welcome remarks by Ms Bianca MA, Managing Director of Metro Broadcast Corp. Ltd. “China is currently ASEAN’s largest partner of trading, while ASEAN ranks third in China’s list of trade partners, fourth in export markets and second in import origins. With the ‘One Belt, One Road’ initiative taking place in the near future, China, Hong Kong and ASEAN will undoubtedly be getting closer in many aspects”, said Ms MA in her speech. The Hon Bernard Charnut CHAN, GBS, JP, member of the Executive Council then delivered the opening remarks and shared his insights on how Hong Kong, as a Special Administrative Region, should play the “super-connector” role, connecting China and the ASEAN countries.
Dr Jonathan CHOI, GBS, BBS, JP, Permanent Honorary President of the Chinese General Chamber of Commerce, was the first speaker. He explored, from a SME perspective, the difficulties encountered by local small and medium sized enterprises in running ASEAN business. Dr CHOI also advised how Hong Kong SMEs could leverage Hong Kong’s “super-connector” role to expand into ASEAN.
Mr Archie LEUNG Hoi Ming, Expert Committee member of One Belt One Road Forum, then spoke about the strategies for Guangdong - Hong Kong - Macau in face of the opportunities opened up by the “One Belt, One Road” initiative in ASEAN. He pointed out that the three places benefit from China’s “home field advantage” in the ASEAN Economic Belt and should make good use of the opportunities to explore new business.
ASEAN countries are not our competitors but mutually beneficial partners in the development of a brand new Asian market. A stable banking system is crucial for corporations going into new markets. In the session that followed, experts including Mr Alex CHEUNG, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong) Limited, Mr Raymond YIP, Deputy Executive Director of Hong Kong Trade Development Council, as well as Consular representatives from Singapore and Thailand shared their insights on how ASEAN countries and banks should make themselves mutually beneficial partners under the “One Belt, One Road” initiative.
The Summit focused on what various countries could do to equip themselves for the opportunities presented by the new “One Belt, One Road” economy. However, the global economy also presents a significant influence on the ASEAN economic belt. Mr David CARBON, Chief Economist of DBS Bank, examined from a macro perspective, the economic outlook under the US rate hike cycle and the impact of RMB internationalisation on ASEAN development.
The final session of the Summit was a group discussion about import/export strategies under global currency war. The strong USD in recent years has impaired Hong Kong’s export, while mainland China’s economic slowdown has weakened Hong Kong’s re-export. On top of this, RMB depreciation took the world by surprise last month. All of these point to the fact that Hong Kong is facing a lot of hidden challenges. Mr Tommy ONG, Managing Director, Head of Wealth Management Solutions, Treasury and Markets (Greater China) of DBS Bank, and Mr Willy LIN, Director of Hong Kong-Thailand Business Council and Vice Chairman of Federation of Hong Kong Industries, discussed various import/export issues and offered forward-looking ideas to the audience.
The Hong Kong–ASEAN Summit 2015 concluded with the closing remarks by Mr Alex CHEUNG, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong) Limited. “There is no doubt that the “One Belt, One Road” initiative will unleash one of the most exciting eras of infrastructure development and economic flow along the routes and the peripheral areas. The emphasis on connectivity will also help expedite regional development in Asia and benefit the ASEAN countries, as it unlocks the infrastructure links and removes barriers, facilitating better access for bilateral trade in the region. Given DBS Bank’s extensive network in Asia, we are well positioned to capture the opportunities for our corporate clients, meeting their ‘One Belt, One Road’ specific banking needs with our top-notch services, particularly in strategic consultancy, project finance, and merger and acquisitions,” Mr Cheung remarked.
Hong Kong–ASEAN Summit 2015 was organised by Metro Finance, and aimed to explore the potential and importance of ASEAN economic development via discussions, exchange of insights and attempts to preview the future of the global economy. The Summit provided an optimal platform for obtaining up-to-date market information and exploring business opportunities.
Photo Captions
Photo 1: Financial and Business Leaders from local and overseas gathered at the “Hong Kong-ASEAN Summit 2015” to explore the business opportunities under the “One Belt, One Road” Initiative.
Photo 2: Mr. Bernard CHAN, Member of the Executive Council of HKSAR, delivered the opening speech and analysed the role of Hong Kong SAR as a “super-connector”.
Photo 3: Mr. Gregory SO Kam-leung, GBS, JP, Secretary for Commerce and Economic Development of HKSAR, keynote speaker of the luncheon,pointed out that Hong Kong is well-prepared to be the “Super Connector” of the projects under the “One Belt, One Road” Initiative.
Photo 4: The Vote of Thanks by Mr. Alex CHEUNG, Managing Director and Head of Institutional Banking Group of DBS Bank (Hong Kong) Limited. He said “One Belt, One Road” will unlock the infrastructure links and removes barriers, facilitating better access for bilateral trade and expediting regional development in Asia.
Photo 5: Mr. David CARBON, Chief Economist of DBS Bank, shared his views on economic trends in the strong US dollar cycle.
Photo 6: Mr Tommy Ong, Managing Director, Head of Wealth Management Solutions, Treasury and Markets (Greater China), DBS Bank (Hong Kong) Limited, analysed the trends of currency market.
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