Videos

RMB Internationalization: Emerging Currency for Payment, Investment and Financing (TATHK Chicago)

The progress in RMB internationalization has been accelerating in recent years, with the solid expansion in cross-border RMB trade settlement activities and the robust “dim-sum” bond market established in Hong Kong. According to SWIFT, RMB overtook the euro to become the second most used currency in global trade finance after the US dollar in 2013, and it also entered the top five of world payment currencies in late 2014. The launching of the Shanghai-Hong Kong Stock Connect Programme in November 2014 further promoted the use of RMB as an investment currency as well as augmented the gradual opening up of the Mainland China’s capital accounts. In this session, a panel of industry experts will explore the developments and opportunities in using RMB for payment, investment and financing. Panel Chair: Peter Hanson Senior Vice President, Global Markets of HSBC Securities (USA) Inc Speakers: The Hon. Laura M Cha Chairman, Financial Services Development Council, Hong Kong Mr Benjamin Hung, BBS, JP Regional Chief Executive Officer, Greater China, Standard Chartered Bank (HK) Limited Mr Weber Lo Citi Country Officer and Chief Executive Officer, Hong Kong and Macau, Citibank, N.A. Ms Ding Chen Chief Executive Officer, CSOP Asset Management Limited; Chairperson, Chinese Asset Management Association of Hong Kong