Asian Financial Summit 2022 was Held Successfully in Beijing

On November 22, Asian Financial Summit Forum and Asian Financial Think Tank Annual Forum (2022) was successfully held in Beijing. The Plenary Session of this forum is the Parallel Forum of the Annual Conference of Financial Street Forum (2022), with the theme of “RCEP: Embark on a New Journey of Asian Cooperation”, where Asian Financial Cooperation Association (AFCA) was invited to be the co-organizer. Ms. Yang Liyu, Executive Deputy Secretary General of AFCA hosted the forum. Mr. Zhou Liang, Vice Chairman of China Banking and Insurance Regulatory Commission and Mr. Liu Jin, President of Bank of China attended the forum and delivered the opening keynotes. Mr. Park Sang Won, Deputy Governor of Financial Supervisory Service and other guest speakers attended the forum and gave keynote speeches.

As Vice Chairman Mr. Zhou Liang pointed out in his speech, the more complex and challenging the international situation is, the more we need to foster consensus, overcome disagreements, strengthen practical cooperation and work together to respond. Asian countries should adhere to the right course of economic globalization, gather the power of cooperation, meet the development challenges, build the momentum of innovation, and deliver benefits to all. We should work together to promote steady economic recovery and deeper integration of industrial chains, maintain regional financial stability, and jointly promote international governance reforms and continue on the track of long-term healthy and stable development. We will unswervingly expand the opening of the financial sector in a more proactive stance, and provide more diversified patterns, better environment and safer system for economic opening, thus contributing to the prosperity and stable development of Asian economy.

Vice Chairman Zhou Liang was delivering opening keynote at the Forum

According to President Liu Jin, as an international cooperation platform in Asia, AFCA has taken a series of positive actions in promoting financial cooperation and common governance among Asian countries. He pointed out that in the process of promoting the implementation of the RCEP agreement, AFCA can play a role in improving the internationalization of financial standards of RCEP member countries, promoting the development of new financial innovation services, and driving the strengthening of bilateral monetary cooperation. As the Chairman institution of AFCA, Bank of China hopes to help build a high-standard free trade area in RCEP region and better serve the stable development of Asia through joint efforts with relevant partners.

President Liu Jin was delivering opening keynote at the Forum

Mr. Park Sang Won, Deputy Governor of Financial Supervisory Service, Mr. Clay Lowery, Executive Vice President of Institute of International Finance, Mr. Zhang Xuguang, Executive Vice President of Agricultural Bank of China, Mr. Chartsiri Sophonpanich, President of Bangkok Bank, Mr. Cui Yong, Executive Vice President of China Construction Bank, Mr. Hidekatsu Take, Senior Executive Officer, Head of Corporate & Institutional Company, and Head of Global Corporate Company, Mizuho Financial Group, Inc., Mr. Zhang Wencai, Vice President of Export-Import Bank of China and Mr. Taimur Baig, Managing Director and Chief Economist of DBS Bank attended the forum and delivered keynote speeches.

Forum site

The Penal Discussion on “RCEP and Asian Financial Infrastructure Connectivity” was hosted by Mr. Guan Tao, Global Chief Economist of Bank of China International Securities. Mr. Wang Wen, Chief Economist of China Export & Credit Insurance Corporation, Mr. Timur Malikov, Head of the Representative Office of Astana International Financial Centre Authority in Beijing (China), Ms. E Zhihuan, Chief Economist of the Bank of China (Hong Kong) Limited, Mr. Dong Lujun, Vice President, Insurance Association of China, Mr. Zhong Zhengsheng, Chief Economist of Ping An Securities Co., Ltd., Mr. Yap Chi Hui, General Manager of MBB Shanghai and Chief Operating Officer of MBB Greater China, Mr. Richard Benedict Sha So, Executive Vice President and Head of Overseas Banking Group, Metropolitan Bank & Trust Company and Mr. Cheng Shi, Chief Economist and Managing Director of ICBC International elaborated the positive effects of RCEP on Asian financial cooperation, especially on financial infrastructure connectivity, from different perspectives including banking, insurance and securities.

Penal Discussion on “RCEP and Asian Financial Infrastructure Connectivity”

The Report Launch of the forum was held online on the afternoon of November 22. Mr. Zeng Xuewen, General Manager of Strategic Planning Department, Agricultural Bank of China, Ms. Liao Shuping, Senior Research Fellow of the Research Institute, Bank of China and Mr. Guan Tao, Global Chief Economist of Bank of China International Securities jointly launched Asian Financial Observation (2022). It is the fifth consecutive year that this AFCA annual report has been released, yet for the first time, the report was planned and compiled by AFCA and written by experts. The report brought together the brilliant views of more than ten think tank experts, systematically analyzing the economic and financial situation in Asia from the beginning of 2021 to mid-2022, exploring the development trend of Asian economy and finance, and seeking opportunities for Asian economic and financial cooperation.

Cover of Asian Financial Observation (2022)

The forum was held in a combination of both onsite and online participation. Over 300 representatives from financial regulators, AFCA member institutions, non-member financial institutions, relevant international institutions and medias from 16 countries and regions, including China, Japan, Korea, Singapore, Thailand, Hungary, Cambodia, Malaysia, Pakistan, Philippines, Kazakhstan, the United Kingdom and the United States attended the forum.