everbright ceo chen shuang attends the fourth ‘cross-strait & hong kong economic and financial forum by hket’
social activities 30 apr 2014
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(25 april 2014) organised by the hong kong economic times, the fourth cross-strait & hong kong economic and financial forum was held today in beijing. numerous financial officials, experts and business leaders from china and hong kong such as yu zheng sheng, chairman of the national committee of the chinese people’s political consultative conference; zhang zhijun, minister of taiwan affairs office of the state council prc; john tsang, financial secretary of the hong kong sar government; sean chen, senior advisor of the taiwan financial services roundtable etc. have attended the forum. the ceo of everbright, chen shuang, was also in attendance and delivered a keynote speech on “current and future development of the internationalisation of rmb and the acceleration of chinese enterprises going abroad”.
chen said although hong kong has already become the world's largest offshore rmb market, it is also dealing with bottlenecks in its development such as limited channels for capital account liberalization, impeding cross-border capital flow; tightening quotas and liquidity for corporate and financial institutions and overseas individual investors to obtain rmb; and limited rmb products. hong kong is currently exploring new approaches to interact with the mainland and other offshore rmb markets to increase the currency’s liquidity.
according to chen, chinese enterprises should consider establishing offshore private equity funds in hong kong by leveraging hong kong’s advantages such as rule of law, free flow of information and market liberalisation to lower investment barriers. he also advised companies to set up operational hubs in hong kong to strengthen long-term relationships with global banks. he added that taiwan could also learn from hong kong’s experience in establishing an offshore market and rmb products to provide more investment options for taiwan investors.
chen said although hong kong has already become the world's largest offshore rmb market, it is also dealing with bottlenecks in its development such as limited channels for capital account liberalization, impeding cross-border capital flow; tightening quotas and liquidity for corporate and financial institutions and overseas individual investors to obtain rmb; and limited rmb products. hong kong is currently exploring new approaches to interact with the mainland and other offshore rmb markets to increase the currency’s liquidity.
according to chen, chinese enterprises should consider establishing offshore private equity funds in hong kong by leveraging hong kong’s advantages such as rule of law, free flow of information and market liberalisation to lower investment barriers. he also advised companies to set up operational hubs in hong kong to strengthen long-term relationships with global banks. he added that taiwan could also learn from hong kong’s experience in establishing an offshore market and rmb products to provide more investment options for taiwan investors.
