The National Chinese Financial Association (tcfa) held its 27th annual meeting online this weekend, focusing on the post-epidemic Economic Recovery and Financial Investment Opportunities in China and the United States, attracting people from the economic and financial circles from all over the world. During the period, Chinese presidential candidate Yang Anze was invited to give the first day of keynote speech and boldly predicted that the Democratic Party will lose the Senate or House of Representatives next year, and Trump will regain the party nomination two years later, once again competing with Biden for the presidency. Robert Mccooey, senior vice president from nasdaq, reviewed and looked forward to the optimistic prospects for corporate listings and economic expansion in China and around the world during and after the pandemic.
As one of the keynote speakers on the first day of the annual meeting, Yang Anze, a rising star of Chinese politics, said in his speech that he could only see Chinese performing kung fu movies or restaurant waiters on TV since he was a child, and occasionally saw Asian announcers, so he dreamed of one day seeing Chinese on the stage of presidential debate, and there was no reason why Chinese could only accept the conventional social status and could not participate in the presidential election. Trump's election in 2016 made him feel the urgency of the situation, more and more people have lost confidence in the quality of life, and the media, including social media, have not fulfilled their due responsibility to explain to people the huge changes that are taking place at the economic and technological levels.
Mr. Yang said he felt even more during his presidential campaign that today's social media has made it more difficult for democracy to function effectively; the arrival of covid-19 has also sparked greater xenophobia, with Democrats and Republicans fighting to condemn China as the only place where Democrats and Republicans compete to condemn China; and Asians and Chinese are becoming increasingly politically "homeless." Yang Anze said that in the future, there is an urgent need for a middle voice that can unite all parties in the future, especially for the Chinese, who have always been less enthusiastic about ideology, but more focused on solving practical problems; in Sino-US relations, the United States also needs to adopt more forward-looking thinking, otherwise the two countries cannot cooperate on global issues such as climate change.
Yang also believes that last week's election is a dangerous signal for the Democratic Party, if this political climate continues, the Democratic Party is bound to lose both houses of Congress or at least one of them in two years, and Trump will once again win the party nomination and compete with Biden for the presidency.
Mai Keyi, senior vice president from NASDAQ, also held a dialogue with Wei Chenyang, deputy dean of Tsinghua University's Fintech Research Institute, on the first day, saying that so far this year, companies from Chinese mainland and Hong Kong have raised $6.6 billion through public listing in the United States, an eight-fold increase over the same period last year. As of May this year, the total number of Chinese companies trading in the U.S. market reached 248, with a market capitalization of $2.1 trillion, a record high. Therefore, the IPO market of Chinese companies has not shrunk due to the epidemic, but has maintained a historical curve of rising.
At the same time, Mai Keyi said that in the overall situation of nasdaq-listed companies in various countries, the epidemic has not brought too much impact on this market, and in the past week alone, Nasdaq has 26 IPOs, which is equivalent to the total number of listed companies in the United States during the 2009 financial crisis.
In addition, executives from companies such as Orrick, HHL Acquisition and Keywise Capital also discussed the pros and cons and significance of the SPAC listing. Executives from Haitou, ZhongAn Insurance, Ascendex, Recursion and Legal & General Investment Management America discussed the development of fintech. Wenzhe Zhao, a senior economist at Credit Suisse, moderated the discussion on global economic prospects.
The Annual Meeting will continue to hold a number of online seminars on topics such as China's investment and sustainable development this week, and will also conduct online recruitment.
Nasdaq Senior Vice President Mak Keyi looks ahead to the U.S. and Chinese corporate IPO markets. (Screenshot of the meeting)