Heavyweights from the world’s largest banks and financial institutions, who have descended on Hong Kong for a summit organised by the city’s monetary authority, were welcomed with a lavish banquet at the Palace Museum.
Henry Tang Ying-yen, the West Kowloon Cultural District Authority chairman and financial secretary from 2003 to 2007, spoke at the welcome dinner, while HKMA CEO Eddie Yue Wai-man welcomed the guests in his address.
“Art is not just art,” Tang said. “It is not just a visual culture. Art is actually finance. Private banking, wealth management today is a huge business, and it is very balance sheet efficient. I know many banks are looking to Hong Kong as their platform for wealth management and asset management, and we are an ideal platform.”
At the welcome dinner, guests enjoyed a four-course modern Chinese banquet meal. The entrees were “cha siu” style pastrami salad rolls and doubled boiled chicken soup. The choice of mains included five-spice yellow chicken and pan-seared seabass.
The wines served at the banquet was sponsored by Tang, an avid wine collector, who abolished tax on it during his tenure as financial secretary.
Starting with a Krug Grande Cuvee non-vintage champagne, the wines began with 2015 Saviennieres Fides by Eric Morgat from the Loire Valley, followed by a 1995 Bordeaux by Ch. Rauzan-Segla, and finished with a 2012 Nuits-St Georges Aux Argillas Premier Cru from the Burgundy region.
“I hope you will enjoy the wines because otherwise I will drink them myself. Excellent champagne, please start with that,” Tang said.
The emphasis of this year’s summit is “Living with Complexity”, as the world moves on from last year’s theme of “Navigating Beyond Uncertainty”, Yue said in a recent interview with the Post.
How HKMA has evolved with innovations in fintech, green finance over 3 decades
How HKMA has evolved with innovations in fintech, green finance over 3 decades
Market trends, including the development of fintech and opportunities for traditional banks to tap digital innovations, are expected to be among the main talking points at the conference.
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HKMA to mark 30th anniversary with global financial heavyweights summit, says CEO Eddie Yue
HKMA to mark 30th anniversary with global financial heavyweights summit, says CEO Eddie Yue
The bankers’ summit and the BIS meeting are part of Hong Kong’s efforts to show the world that the city is back to normal after three years of disruptions caused by the pandemic.
A special fireside chat has been organised on Tuesday to wrap up the first day of the bankers’ summit.
The government has yet to confirm whether the Global Financial Leaders Summit will be held again next year, as it may be reserved for only special occasions, rather than being an annual event.
Additional reporting by Jiaxing Li and Enoch Yiu