China Daily Special Forum on "Hong Kong and the Internationalization of the RMB"

Leading Names in Business, Economics Gather for
China Daily 30th Anniversary Roundtable

China Daily Asia Leadership Roundtable sees luminaries from CEOs to academics discuss
"Hong Kong and the Internationalization of the RMB"

(2 June 2011, HONG KONG) - Hong Kong and mainland Chinese business leaders met today for the China Daily Asia Leadership Roundtable, a gathering of top executives, advisers and academics. The occasion also marked the 30th anniversary of China Daily, the most authoritative and influential national English-language paper, with a global circulation of over 400,000.

Nothing could be more relevant and engaging than the theme of today’s Roundtable: "Hong Kong and the Internationalization of the RMB". The subject has been dominating debates and discussions among economists, financial experts and captains of industry across the globe as the opening up of China’s capital market to the world and allowing the free flow of RMB would presage an economic revolution worldwide.

It is especially relevant in Hong Kong given the city’s pre-eminent role as an offshore centre for the RMB. The dramatic rise in RMB deposits in the city – jumping from RMB60 billion in January 2010 to RMB510 billion at the end of April 2011 – underscores why today’s topic is of such paramount significance. For Hong Kong’s business and financial community as well as China, touted to be the world’s growth engine, the prospect of the RMB becoming a global super-currency has huge implications.

Mr. Zhou Li, Publisher of China Daily Asia Pacific and Chairman of Asia Leadership Roundtable commented, “China Daily has been reporting from the frontlines of China’s economic and geopolitical development for over three decades now, and we felt it was appropriate to commemorate our 30th anniversary with an important subject matter that has global implications. We’re delighted that we are able to gather insights from such an excellent panel of business leaders and experts.”

The opening remarks in today’s Roundtable were made by the Panel’s Honorary Chairman, Mr. Peter T. S. Wong, Group Managing Director of HSBC Holdings Plc and Chief Executive of The Hongkong and Shanghai Banking Corporation Limited.





This was followed by the keynote speech, delivered by Prof. Fan Gang, Director of the National Institute of Economic Research and former academic member of the Monetary Policy Committee of the People’s Bank of China.

Luncheon attendees then heard a panel discussion featuring Mr. Wong and Prof. Fan as well as Ms. Zhu Yan Lai, Assistant Chief Executive, Bank of China (Hong Kong) Ltd.; Mr. Charles Li, Chief Executive, Hong Kong Exchanges and Clearing Ltd.; Mr. R. Sean Craig, Hong Kong Representative, International Monetary Fund; and Mrs. Alexa Lam, Deputy CEO and Executive Director, Policy, China and Investment Products, Securities and Futures Commission.

About China Daily

China Daily, the most authoritative and influential English-language media in the country, was launched in 1981. It serves as an important window promoting mutual understanding between China and the world. It is also the only Chinese newspaper to effectively enter Western mainstream society and is frequently quoted by overseas media. During its 30 years the paper has been the chronicler of countless sea changes in China and Asia, witnessing the opening of the Chinese economy and its ascent toward becoming the world’s second-largest economy.

In addition to its main edition, which is published in Beijing and distributed across the Mainland, China Daily has editions in the US, Europe and Hong Kong as well as China Daily Asia Weekly, its recently launched Asian edition. For more information, pls visit http://www.chinadaily.com.cn/

About China Daily Asia Leadership Roundtable

An extension of the China Daily CEO Roundtable (http://ceoroundtable.chinadaily.com.cn) that was started in 2004, and with the support of the Asia News Network, an alliance of 21 leading newspapers from 19 Asian countries and regions (http://www.asianewsnet.net),
The China Daily Asia Leadership Roundtable explores collective strategic action on matters of economic, business and social development in Asia, and aims to enhance communication and increase mutual understanding between China, Asian and Western countries.

For further information:
Alexander Wan Gloria Chiu
China Daily Asia Pacific Golin Harris
Tel: (852) 9183-3388 Tel: (852) 2522-6475
Mobile: (86) 1391-156-7870 Mobile: (852) 9308-0088
Email: alexwan@chinadaily.com.cn Email: gloria.chiu@golinharris.com