On May 28, AmCham China hosted the inaugural Financial and Investment Forum, the first focusing specifically on the financial services, insurance, and investment industries. The forum aimed to foster collaboration and exchange between the US and China, and brought together AmCham China members, financial experts, scholars, and investors. Discussions centered around macroeconomic trends, investment strategies, risk management, financial technology innovation, ESG (Environmental, Social, and Governance) practices, and financial market data security. The forum also explored new opportunities for China-US financial cooperation to address global economic challenges.
Yueqiu Zhou, Academic Committee Chairman of the Beijing Financial Street Research Institute, was the MC for the forum. To kick things off, Michael Hart, President of AmCham China, delivered a welcome speech, expressing his hopes for the forum to become a regular event focusing on financial services, insurance, and investment. He highlighted AmCham China’s mission to support American multinational companies in China and emphasized the deep economic ties between China and the US, quoting US Treasury Secretary Janet Yellen.
Junli Tian, Deputy District Mayor of Xicheng District, Beijing, Hongying Cao, Executive Vice President of the China Association of Enterprises with Foreign Investment, and Hao Hu, Chairman of the Academic Committee of the Financial Street Forum, spoke about the opportunities and challenges of US-China financial cooperation. They noted the significant potential for collaboration and emphasized the importance of stability, trust, and deepened financial reform for sustainable development. They also introduced the development and advantages of Financial Street, inviting global financial institutions to invest and promising robust policy support. Wuxing Lu, Director of the Beijing Financial Street Service Bureau, highlighted the importance of Financial Street as a national financial management center.
Keynote speakers Kaisheng Yang, former President of ICBC, Yansheng Zhang, Chief Researcher at CCIEE, Yao Lei, Deputy Director of the Institute of Finance at PBOC, and Chao Chen, Deputy Secretary General of the Financial Street Cooperative Development Council, discussed the history and future of US-China financial cooperation. They analyzed current challenges and stressed the importance of continued collaboration for global economic stability. The speeches also covered China’s economic outlook for 2024, emphasizing productivity, expanding overseas markets, and financial technology innovation. Sustainable investment practices were highlighted, with a call for deeper US-China cooperation in the renewable energy sector.
Erin Zhang, Co-Chair of AmCham China Financial Services and Insurance Committee and Head of Government and Regulatory Affairs at Goldman Sachs China, moderated the first roundtable discussion on green finance (ESG). The panel included Naixiang Wang, Chairman of the China Beijing Green Exchange, Xianfeng Ma, CEO of CCX, Yao Lei from PBOC, and Ed Lee, Head of Greater China at Mastercard Data & Services. The discussion emphasized the importance of green finance policies and international cooperation, highlighting recent Chinese policies and their impact on ESG practices.
The second roundtable, focused on cross-border payments and data governance, was moderated by Aibing Deng, Senior Researcher at the Beijing Financial Street Research Institute. Panelists included Kenneth Zhou, Partner at WilmerHale LLP, Tao Yang, Deputy Director at the National Institution for Finance and Development, Hong Zhang, VP & Head of China Legal at PayPal, and Zhenghua Zhang, Founder and CEO of UNPay Global. The discussion covered trends in the digital economy, cross-border data transmission, and the legal frameworks governing data security in China. The panelists provided insights into the challenges and opportunities in US-China financial cooperation and digital economic development.
Xin Jin, Deputy Director of the Beijing Financial Street Service Bureau, and Claire Ma, Vice President of AmCham China, delivered the closing remarks at the cocktail party. They introduced the Jinke New Area as a financial technology demonstration zone and summarized the day’s discussions. Claire Ma outlined future event plans for AmCham China and expressed gratitude to the team for their efforts in making the event a success.
The first ever AmCham China Financial and Investment Forum provided a platform for meaningful dialogue on US-China financial cooperation, highlighting both opportunities and challenges in the evolving global economic landscape. As always, the Chamber is looking forward to continuing to facilitate these productive discussions around US-China collaboration.