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USFST promotes Hong Kong in Switzerland as China's global financial centre
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     The Under Secretary for Financial Services and the Treasury, Ms Julia Leung, began her roadshow in Switzerland on November 7 (Zurich time) to promote Hong Kong as China's global financial centre. In her three-day programme from November 7 to 9 in Switzerland, Ms Leung spoke at the "Hong Kong: China's Global Financial Centre" conferences in Zurich and Geneva, as well as met with senior representatives from the financial regulatory authorities and business community, in particular those from the financial services sector, in Zurich, Bern and Geneva.

     In the morning of November 7, Ms Leung met with the Chairman of the Swiss Bankers Association, Mr Patrick Odier, as well as the Head of Investment Strategy and Financial Market Analysis at the Swiss National Bank, Ms Marlene Amstad, and the Head of International Monetary Relations at the Swiss National Bank, Mr Roberto Cippa, updating them on the latest economic and financial developments in Hong Kong as well as exchanging views on the impact of the Foreign Account Tax Compliance Act of the United States and the Swiss franc exchange rate.

     At noon, Ms Leung attended a luncheon hosted by the Director of the Hong Kong Economic and Trade Office, Berlin, Mr Stephen Wong, to mark the occasion of her visit in Switzerland. The moderators and panellists of the ensuing "Hong Kong: China's Global Financial Centre" conference also attended. Ms Leung then gave opening remarks at the conference, outlining the three important elements that give Hong Kong a status that could not be matched by Shanghai or Singapore. She then went on to highlight how Swiss bankers could tap the wealth of the Mainland for foreign portfolio investments through Hong Kong.

     On November 8, Ms Leung called on the General Counsel and Deputy CEO of the Swiss Financial Market Supervisory Authority, Mr Urs Zulauf, in Bern. Afterwards, she attended a luncheon hosted by the CEO of Banque Cantonale de Geneve, Mr Blaise Goetschin, in Geneva. In the afternoon, she met with the Executive Member cum Department Director, Economic Promotion and International Trade Department of the Chamber of Commerce, Industry and Services of Geneva, Mr Philippe Meyer. She gave them all an update on Hong Kong's latest economic and financial developments as well as exchanged views on the impact of the Foreign Account Tax Compliance Act of the United States.

     In the afternoon of November 8 and the morning of November 9, Ms Leung met with the Swiss media to brief them on the latest developments of Hong Kong as China's global financial centre. At noon, she gave opening remarks and addressed the participants at the question-and-answer session at the luncheon on China's global financial centre, where she took the opportunity to brief the audience on the three pillars in Hong Kong's development as an international financial centre, namely its roles as a capital formation centre, an offshore Renminbi centre and an international asset management centre.

     Ms Leung departed Geneva for Luxembourg on November 9 to continue her roadshow to promote Hong Kong as China's global financial centre.

     Mr Wong accompanied Ms Leung during the visit.

Ends/Thursday, November 10, 2011
Issued at HKT 21:47

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