Upcoming forum to outline opportunities for Canadian businesses
TORONTO, May 27, 2015 /CNW/ - Canadian businesses and the financial services sector can learn about the newest opportunities in the areas of renminbi (RMB) internationalization at the upcoming "Think Asia, Think Hong Kong" (TATHK) conference in Toronto on June 8th.
With Toronto's recent launch of the first RMB trading hub in North America, the conference will host a special seminar designed to provide fresh intelligence on the RMB as a vehicle for payments, investments and financing. It will also demonstrate how using the Chinese mainland currency can benefit Canadian companies doing business – or about to do business – with the mainland, particularly by using Hong Kong's one-stop services.
The seminar will feature experts from the financial sector sharing their insights on various facets of the RMB business, including how trade and direct investment transactions with the mainland are increasingly being settled in RMB, while portfolio investment opportunities in the currency are also expanding via such schemes as the RQFII and the Shanghai-Hong Kong Stock Connect.
Hong Kong, Asia's Wealth Management Center
Hong Kong's expertise in RMB business has helped the city become Asia's leading wealth management center, as rated by the Deloitte Wealth Management Centre Ranking 2015. Hong Kong also achieved the world's fastest-growing cross-border client assets during the report's review period, no doubt driven by the 4.32 million high net-worth individuals in the region surrounding Hong Kong.
"Hong Kong is a preeminent RMB offshore center. Since the beginning of the journey of RMB internationalization in 2009, when trade finance was first allowed to be denominated in RMB, the city has played the role as both an experimental ground and a firewall for China," said Benjamin Hung, Regional Chief Executive Officer, Greater China, Standard Chartered Bank (Hong Kong) Limited, who will be a seminar speaker at the Toronto event.
"This has enabled a proliferation of RMB products and services, such as dim sum bonds, RMB investments, FX hedging and other cross-border RMB liquidity management solutions. As a leading asset management hub in Asia, Hong Kong has been able to leverage on its expertise to innovate and develop a wide array of RMB investment products," he said.
TATHK, the largest Hong Kong promotion ever to take place in Canada, is organized by the Hong Kong Trade Development Council (HKTDC).
For more information on the seminar and the event, please see the TATHK website: http://www.thinkasiathinkhk.com/2015/en/index.html
About the HKTDC
A statutory body established in 1966, the Hong Kong Trade Development Council (HKTDC) is the international marketing arm for Hong Kong-based traders, manufacturers and services providers. For more information, please visit: www.hktdc.com/aboutus. Follow us on Google+ Twitter @hktdc LinkedIn
SOURCE Hong Kong Trade Development Council (HKTDC)
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