Caixin Summer Summit 2024 Concludes Successfully: Embracing 'New Missions, New Responsibilities'

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Jun 03, 2024, 07:51 ET

HONG KONG, June 3, 2024 /PRNewswire/ -- Caixin Summer Summit 2024, hosted by Caixin Media, concluded in Hong Kong, China on May 31. Supported by the Hong Kong SAR Government and the Hong Kong Tourism Board, this year's summit centered around the theme "New Missions, New Responsibilities." It brought together more than 100 international politicians, Chinese policymakers, world-renowned business leaders, and emerging scientific and technological innovators. They shared insights and experiences on topics such as world economic development, financial markets, industrial transformation and opening up to the outside world. By offering multi-dimensional perspectives of the world, Asia and China, the summit aims to fulfill its responsibilities and commitments, collectively exploring solutions to complexity and uncertainty.

Hu Shuli, Publisher of Caixin Media, stated in her opening remarks that as China continues to rise as a super economic power, it is at a crucial stage of transformation and upgrading. "In this process, China not only needs internal innovation and reform but requires global wisdom and resources through super-connecting platforms such as Hong Kong." She also revealed that Caixin currently has more than 1.2 million subscribers, making it one of the largest paid subscription media platforms globally, outside the U.K. and U.S. Caixin's conference platform is also seeking higher international engagement.

Michael Wong, Acting Financial Secretary of the Government of the Hong Kong Special Administrative Region, delivered a keynote speech. He mentioned that being "backed by the motherland and connected to the world" is Hong Kong's unique advantage. On this basis, Hong Kong will continue to take proactive steps to find new growth points in various fields and develop new competitive advantages. He also shared the strategies of the Hong Kong SAR Government on expanding Hong Kong's competitive advantages from three aspects: finance, innovative technology, and attracting advantageous enterprises and talents.

Hu had a conversation with Joseph NYE, Harvard University Distinguished Service Professor, Emeritus; Former Dean of Kennedy School of Government, exploring China-U.S. relations and policy directions in the future. Zhang Yichen, Chairman and CEO of CITIC Capital Holdings Limited, discussed with Mark Mobius, Chairman of Mobius Emerging Opportunities Fund, ways of stimulating economic growth potential through technological innovation.

Other speakers included Eddie Yue, Chief Executive of Hong Kong Monetary Authority; Bonnie Y Chan, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited. They shared their insights and thoughts on topics such as the Asian economy and finance.

China's economy has deeply integrated with the global economy, continuously linking with the world through higher levels of openness. As a "super connector," Hong Kong is developing its unique role as a connecting platform, linking mainland enterprises with those overseas. The first panel discussion focused on "Promoting Openness and Linking the World: Unleashing More Economic Potential." Participants included: Steven Alan Barnett, IMF's Senior Resident Representative in China; Laurence Li, Chairman of Financial Services Development Council; Xu Lin, Chairman of China-US Green Fund; Zhang Yichen, Chairman and CEO of CITIC Capital Holdings Limited and Yang Yiqing, Executive Dean of Zhejiang Merchants Research Institute; Chief Economist, Jumbo Fund. They explored topics such as the Belt and Road Initiative, the "soft connectivity" of the Guangdong-Hong Kong-Macao Greater Bay Area, and Hong Kong's role and function.

Geopolitical conflicts and financial market volatility, along with increasingly fragmented regulations and restrictions on offshore investments, present significant challenges to diversified asset allocation. In the panel discussion "New Horizons in Asset Allocation: Leaning Against the Wind," experts shared and exchanged their insights. These included: Christopher Hui, Secretary for Financial Services and the Treasury of the Hong Kong Special Administrative Region Government; Martin Lau, Head of Principal Financial Group Hong Kong; Charles Lin, CEO of GF Holdings (Hong Kong) Corporation Limited; Yin Zhe, Co-founder and CEO of Noah Holdings, Chairman of Gopher Asset; Diao Zhihai, Head of International Business of Wealth Management, Executive Director of CICC and Charles Fan, CEO of JinYi Capital . They discussed topics such as enhancing industry value creation capabilities, reshaping the wealth management ecosystem and innovating asset management business models.

Human civilization thrives on diversity, which adds value to communication and mutual learning. At this new historical starting point, how can we connect East and West and promote cultural inheritance, exchange and integration? Xu Zidong, Honorary Professor at the School of Chinese of the University of Hong Kong, Chen Lu, China's first world figure skating champion, and Brian Yiu, Chief Executive Officer of FILA China, engaged in a dialogue on "Tapping the Potential of Cultural Commerce."

New productive forces are pioneering a new path for economic development, providing fresh impetus for China's economic transformation and reshaping the nation's growth momentum. The panel discussion, "New Quality Productive Forces: Science, Technology to Recharge Future Economic Growth," focused on core technologies forming new productivity, such as AI+, quantum computing, and new energy. It suggested that enterprises should accelerate breakthroughs in key technology R&D to enhance their competitiveness. Participants included: Tim Cheng, Vice-President for Research and Development of the Hong Kong University of Science and Technology; Edmond Lai, Chief Digital Office & CEO of Mainland Business of Hong Kong Productivity Council; Dai Wenyuan, Chairman of the Board and CEO of 4Paradigm; Li Wenxuan, Chairman of PCG Power; Xiao Shaolin, Senior Vice President of StarWiz Technology (Beijing) Co., Ltd; and Yang Zetao, Founder of AEOTrade (Beijing) Technology Co., Ltd.

Masaaki Shirakawa, the 30th Governor of the Bank of Japan and former Vice-Chair of the Bank for International Settlements, delivered the closing speech "A Transition from High Growth to Stable Growth: A Comparison of Japan and China"

Caixin Summer Summit is the mid-year conference of the Caixin Summit series, continuing the high standards and international perspective of Caixin Summit. It focuses on the short-term reality and future prospects of the world economy, trends in global financial markets, responses to monetary and fiscal policies in various countries, China's next steps in reform and opening up, cross-border trade, as well as new opportunities in digital economy, healthcare, and global asset allocation. Additionally, the second Asia New Vision Forum (ANVF), launched by Caixin Global in collaboration with the Singapore government, will convene in Singapore from September 25-27. The forum will center on the theme "Global Challenges, Asian Solutions," delving into discussions on sustainable economic growth and emphasizing Asian solutions and innovations for a shared future.

For more information, click to access the special coverage of Caixin Summer Summit 2024.

SOURCE Caixin