FSDC's Topic:
Unleashing the Dragon's Currency:
Navigating Renminbi Internationalisation on the Global Stage
Rundown:
| Welcome Remarks | Mr Laurence Li, SC, JP, Chairman, Financial Services Development Council |
| Opening Remarks | Mr Joseph H. L. Chan, JP, Under Secy for Financial Services & the Treasury |
| Panel discussion |
Speakers: • Mr Edward Lau, Chief Financial Officer, New World Development • Ms Karen Ng, Head, China Opening & RMB Internationalisation, Client Coverage, Corporate, Commercial and Institutional Banking, Standard Chartered • Mr Nicolas Mackel, CEO, Luxembourg for Finance
Moderator: |
| Closing Remarks | Ms Mary Huen, Cluster CEO, Hong Kong, Taiwan and Macau, Standard Chartered |
Agenda/Synopsis:
Renminbi internationalisation has propelled China's currency onto the global stage, reshaping the dynamics of the international monetary system. Bilateral agreements and currency swaps have bolstered the renminbi's global acceptance, enabling more countries to conduct transactions in renminbi. Notably, the establishment of currency swap lines in Belt and Road Initiative projects has solidified the renminbi's presence in international trade and investment. The expansion of renminbi-denominated products, such as dim sum bonds and renminbi equities, has provided diverse investment opportunities.
Hong Kong, as an international financial hub, plays an instrumental role in renminbi internationalisation. With its robust financial ecosystem and regulatory framework, the city has become a leading offshore centre for renminbi transactions and financial services, highlighting its pivotal role in facilitating cross-border capital flows and supporting renminbi liquidity.
In this panel discussion, distinguished speakers will explore the renminbi’s journey towards global prominence, providing valuable insights into the future of finance, investment strategies and evolving international relations.