The Treasury Markets Summit 2010, co-hosted by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA) with the support of the Hong Kong Trade Development Council (HKTDC), was successfully held on 15 October in Beijing.
There were over 300 participants attended the Summit, including representatives from regulatory authorities, treasury markets practitioners, and senior executives and professionals from banks and financial institutions in Mainland China and Hong Kong.
Mr. Norman Chan, Chief Executive of the HKMA and Honorary President of TMA Council, delivered the welcoming remarks. In his address to the Summit, Mr. Chan highlighted the importance of developing “soft power” in financial innovation”.
To reinforce Hong Kong’s own financial soft power, the HKMA is formulating new supervisory measures which explicitly require local treasury market practitioners to enhance their professional standard through continuous training and compliance with market codes. Under the new framework, treasury markets practitioners will have to meet the prerequisite of being a TMA member or equivalent. The proposed measures will be implemented as soon as possible after taking into account any views received during industry consultation.
During the Summit, participants from Hong Kong and the Mainland discussed two topics with profound implications for the future development of China's financial markets, namely the role of financial derivatives and impact of the reform of the global derivatives market on financial innovation in the Mainland, and Hong Kong's role in renminbi offshore business as the internationalisation of renminbi gathers pace.
Speakers at the Summit included: Mr Eddie Yue, Deputy Chief Executive of the HKMA and Chairman of the Executive Board of Treasury Markets Association; Ms Wu Xiaoling, Member of the National People's Congress (NPC) Standing Committee and Vice Chairman of the Financial Economic Affairs Committee of the NPC; Mr Wang Huaqing, Commissioner of Discipline Inspection of the China Banking Regulatory Commission; and Dr. Ba Shusong, Vice President of the Financial Research Institute of Development Research Center of the State Council.
Photo taken at the Summit
Some media coverage on the Treasury Markets Summit 2010 are found as follows:
Treasury Markets Association
15 October 2010
