The Future of Asia's Finance


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The Future of Asia's Finance

IMF-HKMA Joint Conference:
Helping Asia Invest, Integrate and Innovate, While Remaining Resilient

Location: Hong Kong Monetary Authority

February 28, 2014

Asia's emerging and industrial economies generally have large and sophisticated financial sectors. But sustaining Asia’'s impressive growth will require Asia’'s financial sectors to innovate further, while becoming more interconnected and efficient in financial intermediation and risk management. Through this, Asia’'s financial sectors will help Asia invest, integrate and include better. New and creative approaches will be required to ensure continued resilience to global and domestic shocks, while rising to the challenge of demographic change in Asia. Finally, as Asian economies and financial systems grow, it will be important to ensure that this process is consistent with financial stability and economic sustainability.

This conference will draw together Asia’'s top policymakers, academics, and financiers to take stock of recent developments within Asia’'s financial systems, assess the main challenges that lie ahead, and identify key policy areas to address these challenges.

Click on a presentation title to see the PDF. Click on a speaker name to see a short biography.

February 28, 2014

9:00 - 9:20a.m.

Welcome and Opening Remarks

Speaker: Norman Chan, Chief Executive, Hong Kong Monetary Authority

ZHU Min Deputy Managing Director, International Monetary Fund


Panel I - View from the Deck: The Changing Role of Finance in Asia

Role of finance and key players; macroeconomic impacts of intermediation; shadow banking; government involvement and financial inclusion; systemic importance; and evolution going forward.

Moderator: Chikahisa SUMI, Assistant Director, Asia and Pacific Department, IMF

Speaker: HE Guangbei, Vice Chairman and the Chief Executive of Bank of China (Hong Kong) Limited

Hidekazu HORIKOSHI, Regional Head for Hong Kong, General Manager,The Bank of Tokyo-Mistubishi UFJ

Frank Packer, Head of Economics and Financial Markets for Asia & the Pacific, Bank for International Settlements

Rebecca Terner , Executive Director, Head of Policy and Regulatory Affairs, Asia Securities Industry & Financial Markets Association

11:00 - 12:15 p.m.

Panel II – High and Low Tides: Capital Flows in Asia

Main features of capital flows, and how to address risks. Drivers of flows and medium term trends. Potential new sources, such as India and China, and prospects for regional integration. Mobilizing domestic and foreign savings to support growth.

Moderator: Jerry Schiff, Deputy Director, Asia and Pacific Department, IMF

Speaker: Ratna Sahay, Deputy Director, Monetary and Capital Markets Department, IMF

LI Bo, People's Bank of China

Kazuo Momma, Assistant Governor of the Bank of Japan

12:30 - 2:00 p.m.


2:00 - 2:30 p.m.

Keynote speech: Jose Viñals, Director, Monetary and Capital Markets Department, IMF

2:45-4:00 p.m.

Panel III - Changing Currents: Asia in the New Global Regulatory Regime

Regulatory and supervisory gaps; impact of Basel III; challenges in regulating and supervising cross border financial intermediation; and challenges in moving toward greater financial integration in ASEAN, drawing lessons from the Euro Area.

Moderator: Jose Viñals, Director, Monetary and Capital Markets Department, IMF

Speaker: Gilbert Kohnke, Chief Risk Officer, OCBC Bank

Kenji Okamura,Deputy Commissioner for Japan International Affairs Financial Services Agency

Yunsung Tark, Director of International Finance Division of the Korea Financial Services Commission

4:15 - 5:30 p.m.

Roundtable – Navigating the Future of Asian Finance

Moderator: HE Dong, Executive Director (Research), Hong Kong Monetary Authority

Speakers: Iwan Azis, Asian Development Bank and Cornell University

Andrew Sheng, President Fung Global Institute

ZHU Min, Deputy Managing Director, IMF

5:30 p.m.