The eagerly anticipated ‘RMB Rising’ conference co-hosted by AsianInvestor and FinanceAsia in Hong Kong at the end of last month lived up to its pre-match billing.
The event attracted 150 delegates from across the region and 16 media organisations, with participants exchanging frank views on the timetable and impact of renminbi liberalisation and the changing role of Hong Kong.
This video extract, below, is taken from a session on what the RMB's projected rise will mean for Hong Kong. In this session, Benjamin Rudd, head of overseas investment for Ping An of China Asset Management (Hong Kong), sees it as an exciting opportunity for the city to develop a proper offshore issuer centre for RMB bonds as a key part of its financial sector development.
Meanwhile, Enoch Fung, Asia economist for Goldman Sachs, talks about the roadmap of the Hong Kong dollar currency system and two end-gains for the HK dollar. He also dismissed suggestions that the HK dollar could be repegged to the RMB within the next two years (this had been put forward as a possibility by Peter Redward, head of emerging Asia research at Barclays Capital).
Fung and Rudd were, in fact, chosen as two of the top three speakers at the event as voted by the audience on our evaluation forms at the end of the conference. The ranking was: 1) Enoch Fung, executive director and Asia economist for Goldman Sachs; 2) Tim Condon, head of research and chief economist for Asia at ING; 3) Benjamin Rudd, executive director and head of overseas development for Ping An China Asset Management (Hong Kong).
Pictures from the conference are also available on our website.