Go to main content
Treasury Markets Summit 2018 (with photos)
The following is issued on behalf of the Hong Kong Monetary Authority:

     The Treasury Markets Summit 2018, jointly organised by the Hong Kong Monetary Authority (HKMA) and the Treasury Markets Association (TMA), was held today (September 21) in Hong Kong. 

     In his keynote address to the Summit, the Chief Executive of the HKMA, Mr Norman Chan, shared his view that crypto-assets would unlikely become an alternative form of money in the future. He explained why such crypto-assets lack "moneyness" while presenting various challenges to supervisors, policy makers and law enforcement agents. Mr Chan said that industry practitioners, regulators and policy makers, while embracing new technology and innovation, must also guard against the risk of overlooking the nature of the financial transactions and the risks that are inherent in these transactions under the pretext of technological advancement. In his address, Mr Chan also pointed out that overseers of payment systems should take proactive steps to ensure that large value as well as small value retail payment systems, making use of commercial bank or central bank balances, are efficient, convenient and at low cost to the users. In this connection, he referred to the launch of the Faster Payment System which will provide instantaneous and free P2P payments, making use of either mobile phone number or email address.
     The Summit's panels focused on three important topics, including global economic developments, financial market cooperation within the Guangdong-Hong Kong-Macao Greater Bay Area, and the potential impact of virtual banking and other fintech advancements on traditional treasury operations.
     Speakers of the panels included the Deputy Chief Executive of the HKMA and Chairman of TMA Executive Board, Mr Howard Lee; the General Manager, Head of Investment, Investment Management, Bank of China (Hong Kong) Limited, Mr Chordio Chan; and the Chief Executive Officer of TMA, Mr Jack Cheung. They were joined by other distinguished guest speakers from the financial industry.
     The Summit was attended by over 300 local and overseas participants, including representatives from regulatory authorities, Government officials, treasury market practitioners, asset managers as well as senior executives and professionals from banks, other financial institutions and corporates.
Ends/Friday, September 21, 2018
Issued at HKT 18:45
Today's Press Releases  


The Chief Executive of the Hong Kong Monetary Authority, Mr Norman Chan, today (September 21) gives the welcoming remarks and keynote speech at the Treasury Markets Summit 2018 held in Hong Kong.
The Deputy Chief Executive of the Hong Kong Monetary Authority and Chairman of the Treasury Markets Association Executive Board, Mr Howard Lee (centre), today (September 21) shared his views on the global economic developments at the Treasury Markets Summit 2018. Joining him on the panel discussion were the Co-Head of Markets, Asia Pacific, the Hongkong and Shanghai Banking Corporation Limited, Mr Justin Chan (first left); the Managing Director and Chief China Economist, Head of Global Market Research (China), BNP Paribas, Mr Chen Xingdong (second left); the Head of Economics and Financial Markets for Asia and the Pacific, Bank for International Settlements Asian Office, Mr Madhusudan Mohanty (second right); and the Managing Director, Global Macro Research, Goldman Sachs, Dr M K Tang (first right).