Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Wednesday, 17 January 2018, 20:00 HKT/SGT
Share:
    

Source: HKTDC
Over 3,000 Participants Attend 11th Asian Financial Forum
Survey finds majority of respondents upbeat about economic prospects in 2018; AI, other technologies pose biggest disruption to financial industry

HONG KONG, Jan 17, 2018 - (ACN Newswire) - More than 3,000 financial policymakers, financial elites and business leaders attended the two-day 11th Asian Financial Forum (AFF), which concluded yesterday. Co-organised by the Hong Kong Special Administrative Region Government and the Hong Kong Trade Development Council (HKTDC), AFF 2018 was held under the theme "Steering Growth and Pioneering Innovation: Asia and Beyond," which examined the latest economic trends, industries with the greatest growth potential and investment opportunities presented by technology and innovation. More than 670 one-on-one meetings were arranged during the AFF Deal Flow Matchmaking Session, to help participants explore business and investment opportunities.

- Over half of the respondents optimistic about the Chinese market

On-site real-time surveys conducted during AFF sought to gauge the views of participants on such issues as the economy, business development and technology. The survey suggests general optimism among the business community about this year's global economic prospects, with 58 per cent of the respondents saying they were positive about the outlook, while 36 per cent said they were neutral, and only six per cent expressing pessimism about the economy. On global economic risks in 2018, respondents said they were most concerned about the policy direction of the United States administration (25 per cent), the escalation of trade protectionism (19 per cent), and heightened geopolitical tensions (19 per cent).

More than half of the respondents (55 per cent) believed that China will offer the best investment returns in 2018, with telecommunications, media, technology sector (27 per cent), healthcare (22 per cent) and green industries (19 per cent) viewed the most favourably. Respondents also considered economic liberalisation and structural reforms (32 per cent) and the Belt and Road Initiative (19 per cent) to be China's main growth engines in 2018.

The Chinese mainland continues to be the market most favoured by AFF participants, and Hong Kong's cooperation with mainland financial industries received much attention during the Forum. Sponsored by the Financial Services Development Council, Hong Kong, the Breakfast Panel "Hong Kong Connects: Mainland China and Beyond: Stock, Bond, Mutual Recognition and more......" was moderated by Benjamin Hung, CEO of Retail Banking and Regional CEO, Greater China & North Asia, of Standard Chartered Bank. The panel featured speakers Dr Zhu Min, former Deputy Managing Director of the International Monetary Fund and President of the National Institute of Finance Research of Tsinghua University; Norman Chan, Chief Executive of the Hong Kong Monetary Authority; and Charles Li, Chief Executive of the Hong Kong Exchanges and Clearing Ltd, who discussed future prospects of growing links between the financial markets of Hong Kong and the Chinese mainland.

- Technology disrupts financial ecosystems and gives rise to start-ups

Technology and innovation were prioritised components at this year's AFF. When asked about technologies that could pose the biggest disruption to the financial industry in 2018, most respondents chose artificial intelligence (30 per cent), followed by big data analytics (21 per cent) and blockchain (15 per cent). As for the factors that would pose the greatest challenge to financial innovation, most respondents perceived over-regulation (29 per cent), incumbents' conservatism (21 per cent) and lack of talent (15 per cent) presenting the biggest hurdles. On financial development, some 33 per cent of the respondents considered cybersecurity a top regulatory concern, ahead of customer privacy and protection (23 per cent) and systematic risks (23 per cent).

Experts in the areas of artificial intelligence and Fintech were among the highlights on the last day of AFF. At yesterday's keynote luncheon, Professor Daniela Rus, Director of the Computer Science and Artificial Intelligence Laboratory (CSAIL) and Professor of Electrical Engineering and Computer Science at the Massachusetts Institute of Technology, spoke about the latest developments in artificial intelligence and robotics and the impact these technologies may have on the financial and business industries. A keynote address by FinTech opinion leader JP Nicols, Managing Director of FinTech Forge and Chairman of NextMoney.org, offered insights on financial innovation and technology development. Mr Nicols also discussed how financial enterprises and businesses can leverage innovation to thrive in the shifting global market.

With technology opening unprecedented entrepreneurship and employment opportunities for the younger generation and inspiring many start-ups, the Fireside Chat yesterday morning featured 500 Startups's Founding Partner and CEO, Christine Tsai, who shared secrets to the success of many start-ups.

Co-organised by the HKTDC and the International Finance Corporation (IFC), the workshop examined how technological developments will influence future labour demand and foster a new generation of entrepreneurs. A number of InnoTalks workshops also tackled such topics as Fintech, innovations in banking and big data.

- All-new InnoVenture Salon offers a stage for start-ups to shine

This year's Forum once again featured the AFF Deal Flow Matchmaking Session to provide one-to-one deal-sourcing and matchmaking meetings for project owners and investors. More than 670 meetings were held yesterday, covering more than 500 investment projects in digital technology, including Fintech, environment and energy, healthcare technology and infrastructure and real estate services. The sessions sought to foster more concrete cooperation between participants.

The inaugural InnoVenture Salon featured about 20 start-ups to showcase their solutions at the Start-up zone and pitch their projects at the Project Presentation session. It also featured Investors Meet-ups, connecting start-ups with potential venture capital and private equity investors. In addition, representatives of venture capital funds, incubators and start-up experts offered practical advice about setting up and operation, financing, marketing strategies and pitching during Mentor Hours, to help start-ups enhance their competiveness.

Asian Financial Forum: http://www.asianfinancialforum.com
International Financial Week: http://www.internationalfinancialweek.com
Photo download: http://bit.ly/2reyvK9


About HKTDC

The Hong Kong Trade Development Council (HKTDC) is the dedicated to creating opportunities for Hong Kong's businesses. With more than 40 offices globally, including 13 on the Chinese mainland, HKTDC promotes Hong Kong as a platform for doing business with China, Asia and the world. HKTDC organises international exhibitions, conferences and business missions to provide companies, particularly SMEs, with business opportunities on the mainland and in international markets, while providing business insights and information via trade publications, research reports and digital channels including the media room. Please visit www.hktdc.com/aboutus or follow us on Google+, [email protected], LinkedIn.

Contact:
HKTDC
Communications & Public Affairs Department
Billy Ng
Tel: +852 2584 4393
Email: [email protected]


Jan 17, 2018 20:00 HKT/SGT
Source: HKTDC

Topic: Trade Show or Conference
Sectors: Trade Shows, Daily Finance, Travel & Tourism, Venture Capital
http://www.acnnewswire.com
From the Asia Corporate News Network


Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.


Multimedia
The 11th Asian Financial Forum (AFF) welcomed more than 3,000 financial policymakers, financial elites and business leaders to the two-day Forum.
View Image
 
Professor Daniela Rus, Director of the Computer Science and Artificial Intelligence Laboratory (CSAIL) and Professor of Electrical Engineering and Computer Science at the Massachusetts Institute of Technology
View Image
 
JP Nicols, Managing Director of FinTech Forge and Chairman of NextMoney.org
View Image
 
HKTDC Links

http://www.hktdc.com

https://www.facebook.com/hktdc.hk

https://twitter.com/hktdc

https://www.youtube.com/user/HKTDC

https://www.linkedin.com/company/hong-kong-trade-development-council

HKTDC
Oct 22, 2018 16:30 HKT/SGT
Asian Logistics and Maritime Conference Opens 20 Nov
Oct 16, 2018 20:00 HKT/SGT
HKTDC Hong Kong Electronics Fair & electronicAsia Attract Nearly 87,000 Buyers
Oct 15, 2018 19:20 HKT/SGT
11th HKTDC International Wine & Spirits Fair Opens Early November
Oct 15, 2018 16:00 HKT/SGT
HKTDC Hong Kong Electronics Fair: Keys to Success in Use of Artificial Intelligence
Oct 14, 2018 17:00 HKT/SGT
HKTDC Hong Kong Electronics Fair: Symposium on Innovation & Technology
Oct 13, 2018 17:00 HKT/SGT
Autumn Electronics Fair & electronicAsia Open in Hong Kong
Oct 10, 2018 20:00 HKT/SGT
HKTDC's Response to Chief Executive's Policy Address
Oct 9, 2018 20:00 HKT/SGT
Energy-saving Products and Green Tech at Eco Expo Asia
Oct 3, 2018 17:00 HKT/SGT
"Think Global, Think Hong Kong" to Run in Tokyo on 1 November
Sept 26, 2018 19:00 HKT/SGT
HKTDC Hong Kong Electronics Fair, electronicAsia Open in October, Start-ups in Focus
More news >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: