On the evening of April 24, 2024, the 6th (183rd in total) of the "Central Bank Governor Lecture Series" of the National School of Development of Peking University and the 30th Anniversary Celebration of the Peking University Development Institute were held in Chengze Garden. Mr. Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, was invited to deliver a keynote speech on "Hong Kong's Role as an International Financial Centre and Future Opportunities" and interacted with the teachers and students. The lecture was presided over by Professor Huang Yiping, President of Peking University Development Institute. Zhang Weiying, professor of economics at Peking University Development Institute, Lei Xiaoyan, Secretary of the Party Committee of Peking University Development Institute, and many other teachers attended.
Mr Eddie Yue has been the Chief Executive of the Hong Kong Monetary Authority since 1 October 2019. Prior to that, he joined the Hong Kong Government as an Administrative Officer in 1986, joined the then newly established HKMA in 1993, was promoted to Director a year later, was appointed as Executive Director in 2001 and Deputy Chief Executive Officer in 2007, a position he held until his current position. Mr Yu has been responsible for various areas of work at the HKMA. As Vice President, he was responsible for reserves management, research, external affairs, and market development, driving a number of important financial policies and programs. He was actively involved in the response to the financial crisis and played a key role in the optimization of the Linked Exchange Rate System. He graduated from the University of Chinese Hong Kong and Harvard Business School in the United States.
In his speech, Mr Yue Eddie Man highlighted the three major advantages that support Hong Kong's status as an international financial centre: First, strong resilience. Hong Kong's financial system is very stable, with strong market confidence and has successfully withstood the impact of various external crises; The "one country, two systems" principle has given Hong Kong a unique advantage that other international financial centers do not have, which is not only in line with international standards, but also a bridge between the mainland and the rest of the world, and Hong Kong also has a high-quality and high-quality talent pool. In the process of the Mainland's financial opening-up and reform, new progress has been made in the interconnection of the financial markets between Hong Kong and the Mainland. Against the backdrop of the global low-carbon transition, Hong Kong has promoted the development of green finance, and the scale of the green bond market has reached the largest in Asia. In the process of RMB internationalisation, Hong Kong is in a unique position to participate in the continuous optimization and development of RMB cross-border settlement.
After the speech, Professor Wong Yiping had a dialogue with Mr. Yu Eddie Man and had a frank and in-depth discussion on the determinants of the resilience of Hong Kong's financial market, the impact of geopolitics on Hong Kong's financial market, and Hong Kong's role as a bridge between the Mainland and the international financial market.
Finally, Mr. Yu Weiwen answered the questions of Professor Zhang Weiying and other teachers and students on the internationalization of RMB and the development of the Greater Bay Area.
About Langrun Gezheng
As an important measure to build a strategic think tank, the Peking University Development Institute founded Langrun Gezheng in 2013, inviting domestic and foreign experts and scholars to share their insights in various forms such as lectures, dialogues, roundtables, forums, etc., collide wisdom, and deduce public policy choices with an attitude of learning from things, so as to make a modest contribution to China's reform and development.
The Central Bank Governors Series is a special lecture series launched by Langrun Gezheng in 2023. The links to the first five issues are as follows:
One of the series of lectures on central bankers
Austrian Central Bank President Robert Holzmann "Exploring Monetary Policy Normalization Beyond Inflation"
Link: https://www.nsd.pku.edu.cn/sylm/xw/531490.htm
The second lecture series for central bankers
Former Governor of the Bank of Japan, Masaaki Shirakawa, "Interpreting Japan's Experience and Enlightenment to China"
Link: https://www.nsd.pku.edu.cn/sylm/xw/533203.htm
The third lecture series for central bankers
Bank of Korea Governor Rhee Chang-yong "Monetary Policy in Practice: Comprehensive Policy Framework and Forward-looking Guidance"
Link: https://nsd.pku.edu.cn/sylm/xw/533879.htm
The fourth lecture series for central bankers
Bank of England Deputy Governor Sam Woods explains the financial regulatory system and practices in detail
Link: https://www.nsd.pku.edu.cn/sylm/xw/534243.htm
The fifth lecture series for central bankers
Chairman Yi Gang explained "Monetary Policy Framework and Best Practices"
Link: https://www.nsd.pku.edu.cn/sylm/xw/535032.htm
Written by: Bai Yao | Editor: Wang Xianqing