Category: Finance

Online Brokerage Tiger Brokers Announces Q2 2021 Results; Singapore’s Generation Z New Account Openings Up By +90% Y/Y

Xiaomi-backed online brokerage Tiger Brokers (Singapore) Pte. Ltd. today announced that its quarterly business achieved a significant milestone as the number of account openings represented by Generation Z (18-24 yr) saw an increase of over 90 per cent compared to the same period last year.

For Singapore Generation Z investors, the purchase of stocks, futures and options have increased by at least 9-fold as compared to the same time last year, with a notable surge in the preference for stocks and options by around 14 times in terms of volume.

The Singapore business was one of the largest contributors to Group customer accounts in 2Q 2021, when over 60 per cent of all newly funded accounts were derived from international markets, and the Group added more funded accounts than in its entire cumulative operating history.

Eng Thiam Choon, Chief Executive Officer, Tiger Brokers (Singapore), said, “Generation Z, or the internet generation, can be regarded as one of the most disruptive generations ever. There is a distinct difference in how they invest and what they invest in compared to their millennial or baby boomers’ peers. With better access to data and information to supplement their financial knowledge, on top of increased awareness around world issues, it is clear that the narrative for investing will no longer be how it used to be.”

“At Tiger Brokers, we are constantly working to introduce relevant financial products, services and activities to keep the different types of investors engaged. Having more and more Gen Z investors on board meant that we need to provide more meaningful interactions, bite-sized content while maintaining impeccable user experience at the same time,” added Eng Thiam Choon.

Tiger Brokers Singapore’s parent company, UP Fintech Holding Ltd (NASDAQ: TIGR), known as Tiger Brokers, including subsidiaries and consolidated entities, reported its unaudited financial results for Q2 2021 with total revenues of US$60.2 million, a 98.7 per cent increase as compared to Q2 2020. Tiger Brokers had 1.65 million customer accounts at the end of Q2 2021, doubling customer accounts from the previous Q2; the total trading volume also increased by 118.2 per cent to US$102 billion compared to US$46.8 billion in the previous Q2.

Since launching in Singapore in February 2020, Tiger Brokers Singapore has added customer access to exchanges including the Australian Securities Exchange (ASX), providing better access to global financial markets and assets to help Singapore investors better manage their investment portfolios.

Recently, Tiger Brokers Singapore announced they had launched a business-to-business segment for financial institutions to provide clients with comprehensive technology solutions including advanced portfolio and risk management tools.

The Tiger Trade mobile application is available for download at the Apple App and Google Play Store.
– Apple App Store: https://apps.apple.com/sg/app/id1023600494
– Google Play Store: https://play.google.com/store/apps/details?id=com.tigerbrokers.stock

About Tiger Brokers (Singapore) Pte Ltd.
Tiger Brokers (Singapore) Pte Ltd (“Tiger Brokers (Singapore)”) is a brokerage firm operating with a Capital Markets Services (CMS) Licence from the Monetary Authority of Singapore (MAS). Its trading platform, Tiger Trade – available on both online and mobile app (Apple App Store and Google Play Store) offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates. Its online and mobile app trading platform, Tiger Trade, offers complimentary real-time stock quotes, dedicated multilingual customer service during trading hours and 24/7 finance news updates.

Through Tiger Trade, Tiger Brokers (Singapore) offers retail investors in Singapore access to six global exchanges in the US (NYSE, NASDAQ), China (Shanghai/Shenzhen-Hong Kong Stock Connect), Hong Kong (HKEX), Singapore (SGX) and Australia (ASX), with access to investment offerings such as Equities, Exchange-Traded Funds (ETFs), Futures, Stock Options, Warrants, Callable Bull/Bear Contracts (CBBCs), Daily Leveraged Certificates (DLCs), and US-listed over the counter (OTC) equities, and Fund Mall.

Tiger Brokers (Singapore) is the Singapore entity of UP Fintech Holding Limited (NASDAQ: TIGR), known as “Tiger Brokers” in Asia, a leading online brokerage firm focusing on global investors. Founded in 2014, Tiger Brokers became #1 in the U.S. equity trading by volume among trading platforms catered to Global Chinese investors in less than two years. Tiger Brokers was awarded “2017 Fintech 250” by CB Insights and shortlisted for “China Leading Fintech 50” for two years in a row by KPMG China. The company was listed on NASDAQ under “TIGR” in 2019 and has offices in China, United States, Australia, New Zealand and Singapore. Tiger Brokers currently has over 1.4 million customers worldwide, with total trading volume exceeding USD123.8 billion in Q1 2021. The company is backed by well-known investors such as Xiaomi, as well as investment guru Jim Rogers. For more information, please visit https://www.tigerbrokers.com.sg

About UP Fintech Holding Limited
UP Fintech Holding Limited is a leading online brokerage firm focusing on global investors. The Company’s proprietary mobile and online trading platform enables investors to trade in equities and other financial instruments on multiple exchanges around the world. The Company offers innovative products and services as well as a superior user experience to customers through its “mobile-first” strategy, which enables it to better serve and retain current customers as well as attract new ones. The Company offers customers comprehensive brokerage and value-added services, including trade order placement and execution, margin financing, IPO subscription, ESOP management, investor education, community discussion and customer support. The Company’s proprietary infrastructure and advanced technology are able to support trades across multiple currencies, multiple markets, multiple products, multiple execution venues and multiple clearinghouses. For more information on the Company, please visit: https://ir.itiger.com.

For media enquiries, please contact:
PRecious Communications for Tiger Brokers (Singapore)
Email: Tiger@preciouscomms.com

This advertisement has not been reviewed by the Monetary Authority of Singapore. Any views shared with Prospective Clients (“Prospects”) are suggestive in nature and on a sample basis only. This may also be predicated on assumptions that are made by Tiger Brokers (Singapore) Pte Ltd about the Prospects’ investment objectives and risk profile. Our suggestive and sample views extended to Prospects are not to be considered as recommendations made by the Company. Suggestions provided are also based on information that may be shared by the Prospects, the accuracy and comprehensiveness of which Tiger Brokers in not in a position to verify.

Tiger Brokers (Singapore) Pte Ltd (herein “Tiger Brokers”) may, to the extent permitted by law, participate or invest in other transactions with the issuer of the products referred to herein, perform services or solicit business from such issuers, and/or have a position or effect transactions in the securities or options thereof. The information herein is for recipient’s information only and not an offer to sell or a solicitation to buy. Any date or price information is indicative only and may be changed without prior notice. All opinions expressed and facts referred to herein are subject to change without notice. The information herein was obtained and derived from sources that we believe are reliable, but while reasonable care has been taken to ensure that stated facts are accurate and opinions are fair and reasonable, Tiger Brokers does not represent that it is accurate or complete and it should not be relied upon as such. The information expressed herein is current and does not constitute an offer, recommendation or solicitation, nor does it constitute any prediction of likely future stock performance. Investment involves risk. The price of investment instruments can and do fluctuate, and any individual instrument may experience upward or downward movements, and under certain circumstances may even become valueless. Past performance is not a guarantee of future results. In preparing this information, we did not take into account the investment objectives, financial situation or particular needs of any person or affiliated companies. Before making an investment decision, you should speak to a financial adviser to consider whether this information is appropriate to your needs, objectives and circumstances. Tiger Brokers assumes no fiduciary responsibility or liability for any consequences financial or otherwise arising from trading in securities if opinions and information in this document may be relied upon.

UREEQA Appoints Technology Marketing Leader Kirk Fergusson as CEO

Harsch Khandelwal moves to Executive Chairman as UREEQA accelerates efforts to protect Creators’ work, rights and revenue through its blockchain platform

UREEQA, a blockchain platform for protecting, managing and monetizing creative work, today announced that the company is bolstering its executive core as technology marketing leader Kirk Fergusson becomes the new CEO.

Former CEO Harsch Khandelwal rounds out the executive team as Executive Chairman.

Kirk Fergusson

In barely a year, UREEQA has evolved from a compelling concept to a crypto project with a loyal, growing base of believers and Tokenholders as well as a healthy pipeline of clients excited to utilize the company’s revolutionary platform. UREEQA will increase its dedicated focus on proactively engaging its core audiences and demonstrating the platform’s full potential for helping Creators protect, manage and monetize their work. The organization is making valuable changes to its braintrust in order to maximize its ability to develop in a wide range of fields.

In his new role as Executive Chairman, Khandelwal will focus on strategic development and implementation to support UREEQA’s continued growth. Meanwhile, Fergusson – a distinguished technology marketing executive – moves into the CEO role. Altogether, the rearrangement will allow Khandelwal, Fergusson and the rest of UREEQA’s highly-esteemed executives to naturally become more keenly focused on their respective wheelhouses moving forward.

“As we’ve built this company from the ground up, we’ve learned a lot about ourselves and our place in this constantly changing industry,” Khandelwal said. “One thing we’ve realized is just how important it is to employ the best possible talent across the board. Adding Kirk Fergusson as CEO is a move in lockstep with that approach, and it will enable me to focus on continuing to strategically build UREEQA into an industry powerhouse.”

This is yet another critical maneuver for UREEQA from a personnel standpoint. In May, former KPMG director of market relations and versatile industry executive Rakan Aown became UREEQA’s new Vice President of Business Development, while former SAS director of consulting services and celebrated business leader Joe Pillitteri became the company’s new Executive Vice President. In July, music and entertainment legend Harvey Mason Jr. joined an Advisory Board that already contained Michael Sheresky and Ramses IsHak of United Talent Agency, official Community CEO Kevin Leflar and former SOCAN VP Janice Scott. All of these experts and many others have worked throughout 2021 with Khandelwal to lay down the puzzle pieces. Now, with Khandelwal’s oversight, Fergusson will play a major role in putting these pieces together as UREEQA continues to evolve.

With over 30 years’ worth of functional experience in marketing, corporate communications, sales/business development, and general management, Fergusson is a black belt in strategic and tactical marketing, solution development, business development/sales, and start-up/scale-up management.

Prior to joining UREEQA, Fergusson led sales operations for SecureKey Technologies, which employs blockchain technology to underpin its innovative identity network. He previously held leadership roles with several Toronto-based start-ups, one of which was focused on deploying a blockchain-based supply-chain management SaaS solution.

While serving as Managing Director of Canada’s leading digital medical education firm, MDBriefCase, Fergusson led Canadian business development activities as well as the shared services provided to the company’s global operations. And prior to that, he was VP of Corporate Services at Canada Health Infoway, where he led corporate communications and marketing activities for the national electronic health records agency.

Fergusson has also acted as a public relations executive in Ottawa, where he served a multitude of federal government clients including the Copyright Board of Canada, Canadian Heritage, and Industry Canada.

“I’m thrilled to be joining UREEQA at this juncture,” Fergusson said. “The team is first-rate and the company has made terrific progress to date. I look forward to helping Creators of all stripes discover our unique platform, and encouraging them to leverage it to the fullest extent to protect, manage and monetize their creative work.”

To learn more about UREEQA and the company’s executive team, please visit our website: www.ureeqa.com/about-us

About UREEQA
The UREEQA platform strives to protect Creators’ work, their rights and their revenue by harnessing the power of blockchain technology.

Established in Canada in 2020, UREEQA will modernize the inefficient and bureaucratic systems currently in place for copyright, patent, industrial design and trademark protection. By building a robust and compelling Package of Proof for source creative work, UREEQA only mints Validated NFTs to represent creative rights. This helps keep buyers safe by giving them confidence that the work they are purchasing was minted by the smart contract approved by the Creator of the work and is therefore authentic.

UREEQA provides value and opportunities for its Creators, Validators and Tokenholders via URQA, the token at the heart of the UREEQA ecosystem.

For more information on UREEQA and upcoming announcements please visit our website (https://www.ureeqa.com/), join our Telegram channel (https://t.me/UREEQA), and follow us on Twitter (https://twitter.com/UREEQA_Inc).

HKTDC Export Index 3Q21: COVID, transportation costs dim Christmas sales outlook

Potential seen in Mainland China and smart healthcare

The Hong Kong Trade Development Council (HKTDC) announced today that its Export Index for the third quarter of this year (Q3) fell 9.7 points back to its first-quarter level of 39.0, after rising for five consecutive quarters, as sector and market sub-indexes declined across the board. The latest survey results indicate perceived uncertainties over Hong Kong’s export performance in the coming months, especially during the traditional peak Christmas season.

HKTDC Economist Samantha Yim, Director of Research Nicholas Kwan and Assistant Principal Economist (Greater China) Alice Tsang announced the HKTDC Export Index for the third quarter of 2021 at a press conference today [L-R]

HKTDC Director of Research Nicholas Kwan said business confidence in Hong Kong’s exports for the near term has been undermined by continuing uncertainties over the COVID-19 pandemic and surging transportation costs. Only 20.2% of Hong Kong businesses polled in the Q3 survey anticipated an increase in their Christmas sales this year, compared with 38.7% who foresaw no change and 41.1% who predicted a decline. Most respondents in the latter category expected declines of no more than 30%.

“The key issues seen as affecting Hong Kong’s export performance in the coming six months continued to be the pandemic [45.5%, up 4 percentage points on the second quarter (Q2)] and softening global demand [20.3%, up 3.6 percentage points],” Mr Kwan said at a press conference today.

Digital transformation accelerates
In the survey, the proportion of Hong Kong exporters who reported having been affected by the pandemic (66.6%) rose 9.7 percentage points from Q2. The most-cited pandemic-induced problems include reduced order sizes (59.5%) and order cancellations (28.1%), as well as disruptions to logistics and distribution (58.6%) and increased transportation costs (53.6%). “It is worth noting that an increased proportion of Hong Kong companies reported difficulties in sourcing raw materials, parts and components. This category accounted for 24.6% of respondents, up 10.8 percentage points from the last quarter. This suggests that the supply chain may have been affected,” Mr Kwan said.

Nevertheless, some Hong Kong firms (9.3%) said the pandemic had positively affected their business, which had benefited from increased product demand, especially in the electronics and toys industries. This is partly attributable to the COVID-19-inspired acceleration of digital transformation among enterprises, a restructuring of the global supply chain and a shift towards e-commerce, which together saw businesses invest heavily in electronics products to upgrade their operational resources.

“Under the pandemic, quite a number of Hong Kong companies have accelerated their digital transformation,” said Mr Kwan. “The survey found that their digital business strategies include developing an online sales operation [56.3%], promoting products via a digital channel [56.0%], enhancing their cybersecurity [50.2%], developing a cloud computing/online management system [47.7%] and adopting digital payment solutions [31.9%].”

To address current market challenges, many Hong Kong firms said they were considering or would consider adopting various business strategies, including developing Mainland China sales (47.9%), building online sales channels (45.8%) and expanding their product portfolios (44.9%). Meanwhile, an increased proportion of Hong Kong enterprises were planning to diversify into new overseas markets (35.5%, up 7.1 percentage points), mainly in Europe (29.5%) and the Association of Southeast Asian Nations (ASEAN) region (20.5%).

Relatively stronger performers: toys and Japan
The HKTDC conducts the Export Index survey every quarter, interviewing 500 local exporters from six major industries including machinery, electronics, jewellery, watches and clocks, toys and clothing, to gauge business confidence in near-term export prospects. The index indicates an optimistic or pessimistic outlook, with 50 as the dividing line.

“Among industry sectors, toys recorded the highest reading and a relatively mild drop [44.0, down 1.1 points], while Hong Kong exporters were the least optimistic about clothing [36.1, down 7.2 points],” HKTDC Economist Samantha Yim said. “As for markets, exporters showed the most confidence in Japan [47.9] and Mainland China [47.8].”

The survey also registered declines in the Trade Value Index (54.1, down 2.9 points) and the Procurement Index (36.2, down 9.3 points). The Employment Index, on the other hand, rose by 3.1 points to 44.7, showing the labour market was relatively stable.

Bright spot: smart healthcare
HKTDC Assistant Principal Economist (Greater China) Alice Tsang said the pandemic, despite its negative impact on the global economy, has accelerated the development of smart healthcare, creating new business opportunities. “Under the pandemic, smart healthcare equipment has been gaining traction and consumers are becoming increasingly receptive to such technologies as remote healthcare, the medical-related Internet of Things [IoT] and health data management,” she said.

“Automated and electronic healthcare services such as smart hospitals and remote medical consultations can ease human resources pressure and help meet the enormous healthcare demand from the world’s ageing population. Hong Kong’s elderly population, for example, is expected to increase to one-third of the total population by 2039,” she added.

Ms Tsang noted many medical products and services have incorporated new technologies in recent years, such as wearable devices that measure and monitor health data, systems using big data and artificial intelligence to predict the chance of developing an illness, devices equipped with virtual reality technology for making initial diagnoses, robots that assist in surgery and rehabilitation treatment, as well as solutions for storing medical data in the cloud.

To reduce production costs, many of Hong Kong’s medical and healthcare equipment manufacturers have moved their production bases to the mainland. However, quality control, marketing, R&D, design and material and equipment procurement continue to be carried out in Hong Kong. In the first half of this year, the city exported HK$7.8 billion (US$1 billion) worth of medical and health equipment to markets led by the mainland (24%), the European Union (18%), the United States (10%), India (8%), ASEAN (7%) and Japan (6%).

Ms Tsang explained that Hong Kong’s medical and healthcare sectors are presented with new opportunities because of the close ties between the local and mainland healthcare markets, coupled with the city’s role as a research and development (R&D) hub for the industry and a major fundraising centre for biotechnology companies. “Hong Kong possesses first-rate R&D talent, a strategic location close to production centres in the Guangdong-Hong Kong-Macao Greater Bay Area, a robust intellectual property protection regime and extensive international business networks. All these together make Hong Kong the ideal platform for developing smart healthcare,” Ms Tsang said.

Highlighting Hong Kong’s role as a regional healthcare investment platform, the Hong Kong Special Administrative Region Government and the HKTDC will hold the inaugural Asia Summit on Global Health on 24 November. Themed “Shaping a Resilient and Sustainable Future”, the hybrid online-offline event will examine business and cooperation opportunities in Asia’s healthcare sector. The event will include exhibitions, project presentations and Deal Flow Matchmaking sessions to facilitate business discussions and investment partnerships.

References
– HKTDC Research website: http://research.hktdc.com/
– HKTDC Export Index 3Q21: Threat of Covid-19 Variants Triggers Decline in Exporter Confidence Over the Near Term: https://bit.ly/3k5GEde
– Smart Healthcare series https://bit.ly/3z6bB52
– Photo download: https://bit.ly/3hxh6E1

Media enquiries:
HKTDC’s Communication and Public Affairs Department
Beatrice Lam, Tel: +852 2584 4049, Email: beatrice.hy.lam@hktdc.org

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Legend Capital Led a New Round of Investment of Etana

Legend Capital led a new round of investment of PT Etana Biotechnologies Indonesia (Etana), along with Innovent Biologics, Inc. (Innovent) (HKG: 1801), and a consortium led by UOB Venture Management (UOBVM). This round of funds will be used to further strengthen the company’s production, registration, clinical and commercialization capabilities, promote the company’s extensive and in-depth cooperation with biopharmaceutical companies, and lead the development of the Indonesian biopharmaceutical industry.Legend Capital led a new round of investment of PT Etana Biotechnologies Indonesia (Etana), along with Innovent Biologics, Inc. (Innovent) (HKEX: 01801), and a consortium led by UOB Venture Management (UOBVM). This round of funds will be used to further strengthen the company’s production, registration, clinical and commercialization capabilities, promote the company’s extensive and in-depth cooperation with biopharmaceutical companies, and lead the development of the Indonesian biopharmaceutical industry.

Nathan Tirtana, President Director of Etana stated “Etana, as an Indonesian biopharmaceutical start-up, always strive to provide high quality, affordable and innovative biopharmaceutical products to serve the patients in Indonesia and South-East Asian countries. We will use the support obtained from the investors to develop local biopharmaceutical production capabilities in line with the policies promoted by the Indonesian government. Etana aims to tackle challenges in oncology and other life-threatening diseases for the South-East Asian market. We believe these biological products can provide better treatment and greatly improve healthcare for the population.”

Hong Tan, Managing Director of Legend Capital, said “We appreciate Etana’s vision to provide Indonesia with cost-effective biopharmaceuticals. We look forward to working with Etana to achieve this goal. Etana has significant synergy with China’s biopharmaceutical industry. It will become an important bridge to promote cross-border pharmaceutical trade between China and Southeast Asia. Through this cooperation, we believe that Etana will grow into a leading biopharmaceutical company in Indonesia and Southeast Asia.”

Seah Kian Wee, the CEO and Managing Director of UOB Venture Management, said, “We are pleased to be able to support Etana in its efforts to improve the lives of Indonesians through the development of biological medicine using advanced technology. At UOBVM, we have built a deep understanding of ASEAN and its diverse business landscape through our 20 years of experience facilitating the growth of promising private companies through direct equity investments. Building on our regional expertise and collaboration with Etana, we can help to advance the biopharmaceutical industry in ASEAN and reinforce our commitment to promoting the well-being of communities in the region.”

About Etana
PT Etana Biotechnologies Indonesia (Etana) established in 2014 is an Indonesian biopharmaceutical company that focuses on the development and commercialization of biological drugs in the oncology field and other life-threatening disease for the Southeast Asian market. Etana has biotechnology production facilities that meet international standards including Indonesian FDA to produce biologics with aggressive expansion in the progress. Through experienced and dedicated sales and marketing team, Etana aim to serve patients by providing high-quality, affordable, and innovative biopharmaceutical products with a passion to improve healthcare.

About Legend Capital
Legend Capital is an independent professional venture capital company under Legend Holdings. It was established in April 2001. Its core business is positioned at the initial stage of venture capital and expansion stage growth investment. At present, Legend Capital’s USD and RMB funds under management total USD 9 billion, and have been invested in more than 500 companies, of which more than 90 have gone public, and more than 70 have exited through mergers and acquisitions. As a pioneer in the industry, Legend Capital began investing in the medical field since 2007. For many years, Legend Capital has established professional investment capabilities in various segments of medical and healthcare industry, and has worked closely with its portfolio companies to form an unique healthcare ecosystem resource.

About UOB Venture Management Pte Ltd
UOB Venture Management Private Limited (UOBVM) is a wholly-owned subsidiary of United Overseas Bank Limited (UOB), a leading bank in Asia with a global network of around 500 branches and offices. UOB is rated among the world’s top banks: Aa1 by Moody’s Investors Service and AA- by both S&P Global Ratings and Fitch Ratings. Since 1992, UOBVM has been providing financing to privately-held companies in Southeast Asia and Greater China through direct equity investment. UOBVM advocates responsible investing through impact investments and integrating ESG considerations into its investment process. UOBVM is a signatory of the Operating Principles for Impact Management and the United Nations-supported Principles for Responsible Investment. UOBVM has assets under management in excess of S$2 billion.

About Innovent
Inspired by the spirit of “Start with Integrity, Succeed through Action,” Innovent’s mission is to develop, manufacture and commercialize high-quality biopharmaceutical products that are affordable to ordinary people. Established in 2011, Innovent is committed to developing, manufacturing and commercializing high quality innovative medicines for the treatment of cancer, autoimmune, metabolic and other major diseases. On October 31, 2018, Innovent was listed on the Main Board of the Stock Exchange of Hong Kong Limited with the stock code: 01801.HK.

Since its inception, Innovent has developed a fully integrated multi-functional platform which includes R&D, CMC (Chemistry, Manufacturing, and Controls), clinical development and commercialization capabilities. Leveraging the platform, the company has built a robust pipeline of 26 valuable assets in the fields of cancer, metabolic, autoimmune disease and other major therapeutic areas, with 5 products – TYVYT (sintilimab injection), BYVASDA (bevacizumab biosimilar injection), SULINNO (adalimumab biosimilar injection), HALPRYZA (rituximab biosimilar injection) and Pemazyre (pemigatinib oral inhibitor) – officially approved for marketing, 1 asset’s NDA under NMPA review, sintilimab’s Biologics License Application (BLA) acceptance in the U.S., 5 assets in Phase 3 or pivotal clinical trials, and an additional 15 molecules in clinical studies.

Innovent has built an international team with advanced talent in high-end biological drug development and commercialization, including many global experts. The company has also entered into strategic collaborations with Eli Lilly and Company, Adimab, Incyte, MD Anderson Cancer Center, Hanmi and other international partners. Innovent strives to work with many collaborators to help advance China’s biopharmaceutical industry, improve drug availability and enhance the quality of the patients’ lives. For more information, please visit: www.innoventbio.com and www.linkedin.com/company/innovent-biologics/.

Capital.com Grows its Global Regulatory Footprint with Expansion into Australia

  • UK’s leading leverage trading platform known for its high client satisfaction levels is granted regulatory approval to extend mobile and web-based trading services to Australian investors

Capital.com, the high-growth global fintech innovator leading the UK leveraged trading industry in overall client satisfaction, has today announced it has received a license to operate in Australia and opened an office in Melbourne. The platform will operate with an Australian Financial Services (AFS) license, granted by the Australian Securities and Investments Commission (ASIC). Recognised as one of the fastest growing fintechs in Europe, this is the latest expansion initiative by Capital.com to enable more people to seamlessly trade and invest in financial markets.

The approval of the AFS license marks Capital.com’s latest commitment to expand across the globe offering clients a highly regulated and secure trading experience. Capital.com currently has entities that are regulated by either the Cyprus Securities and Exchange Commission (CySEC) in Europe or the Financial Conduct Authority (FCA) in the UK.

“ASIC applies enhanced levels of regulation to the Australian securities market, making it one of the most comprehensive and well-respected regulators in the world. The AFS license affirms our commitment to meet the highest compliance standards worldwide, marking yet another important milestone in the strategic development of Capital.com as a fast-growing, regulated investment trading platform. Known in the UK for our excellent customer satisfaction levels, we are excited to bring our services to the tech-savvy Australian investor base and to support more people in their trading and investing journeys,” said Jonathan Squires, Group Chief Executive Officer at Capital.com.

Capital.com has an established a strong track record in Europe. In the first half of 2021, the platform reported a 400 per cent lift in new clients compared to H2 2020. Over the same period, it saw a global pick-up in trading activity, with total client trading volumes across all markets growing by more than 184 per cent. These results reflect Capital.com’s growing reputation as a platform of choice among retail traders globally.

Peter Richards, who has extensive experience in the Australian online trading and investment space, has been appointed Director of Capital Com Australia Limited. He will help drive the company’s growth as well as oversee recruitment.

“Capital.com is one of the fastest growing fintech companies operating in the retail trading space. The platform has a tremendous opportunity to grow in this region and to help more Australians access financial markets securely and responsibly. Underpinned by Capital.com’s comprehensive education resources, we aim to bring the platform’s cutting-edge technology and intuitive UX to as many Australians as possible supported by our on-the-ground teams and local expertise,” said Peter Richards, Director of Capital Com Australia Limited.

As an AFS-licensed entity, Australian clients can trade derivatives on more than 3,000 of the world’s most popular indices, commodities, cryptocurrencies, shares and currency pairs through Capital.com’s web and mobile platforms.

Australian clients will be able to access financial lessons, videos, quizzes and other trading support tools via the platforms’ free education app, Investmate app. Clients will also receive regular news feeds, financial market content and analysis through the platform’s extensive education resources available on the Capital.com website and the Youtube trading channel, Capital.com TV.

To begin using the platform, please visit www.capital.com.

About Capital.com

Capital.com is a high-growth investment trading fintech group of companies empowering people to participate in financial markets through secure, low-friction, innovative platforms that take the complexity out of investing. Its intuitive, award-winning platform, available on web and app, offers investors a seamless trading experience to over 3400 world-renowned markets. To help investors trade with confidence, the platform is enabled with robust risk management controls and transparent pricing while its all-in-one Investmate app delivers extensive financial lessons and educational content to support clients in their investment journey.

Capital.com has clients in over 180 countries with offices located in the UK, Gibraltar, Australia, Cyprus and Belarus. In 2020, the platform reported a 700 per cent growth in its client base, making it one of Europe’s fastest growing investment trading platforms with more than 2 million clients.

Capital Com (UK) Limited is authorised and regulated by the Financial Conduct Authority (FCA). Capital Com SV Investments Limited is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC), under license number 319/17. Capital Com Australia Limited is authorised and regulated by the Australian Securities and Investments Commission (ASIC) under AFSL Number 513393.

To find out more, please visit: www.capital.com.
Trading on margin is high risk and is not suitable for everyone. Refer to our Product Disclosure Statement.

This press release is for media use only. It’s not intended for individual investors, and doesn’t include personal advice or recommendations. If you don’t want to receive our press releases, please let us know by responding to this email and we’ll remove you from our distribution list.

For media enquiries, please contact:
shamillia.sivathambu@capital.com
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SOURCE: Capital.com

Duiba’s Surprising 1H2021 Turnaround Supporting Bank SaaS Operations

Duiba Group (Hong Kong) Ltd, the well-known platform provider of management software, and interactive advertising platform operator founded by Xiao Liang Chen in 2014 and headquartered in Hong Kong, released its interim financial report on August 27, for the First Half 2021.

According to the report, Duiba (HKG:01753) recorded total revenues of RMB720 million, representing an increase of 53.82% from a year earlier, with profit attributable to owners of RMB62.804 million, representing a significant increase from a loss of RMB47.839 million in the First Half of 2020.

Significantly, Duiba recorded revenues on Software as a Service (SaaS) user management processes of RMB68.56 million, representing a sharp increase of 142%. We could guess from the report that Duiba achieved strong First Half 2021 financial results with its existing strategies. But what of Duiba’s potential future development?

Getting through tough times to turn around poor profitability
Founded in May 2014, Duiba is a SaaS user management systems provider and interactive advertising platform operator committed to providing enterprise customers with user acquisition, user activation and retention: realization covering the entire user lifetime.

With consideration to the COVID-19 situation, advances in digital technology and the influence of geopolitics have expedited the development of service companies in China, and the rapid growth of high-quality SaaS user management operators such as Duiba, and talk of an emerging SaaS unicorn:

On the one hand, for Chinese SaaS companies, the biggest pain point is the long profit-making cycle. Duiba acquired lots of customers by launching the free-of-charge SaaS user management platform in the early days, and began to offer paid services in April 2018 which led to a significant increase in its business performance.

From 2017 to 2019, Duiba recorded revenue of RMB650 million, RMB1.14 billion and RMB 1.65 billion and an adjusted net profit of RMB120 million, RMB210 million and RMB340 million, respectively, and achieved a three-year profit compound growth rate up to 69.4%.

The above data could tell that Duiba has gone through its no-profit period, and the financial data in the first half of 2021 could also tell that Duiba has come to the performance growth period. On the other hand, what many Chinese companies need from the SaaS industry are integrated solutions, instead of services for any single segment.

The user management services provided by Duiba are full-cycle management services and integrated solutions which cover user acquisition, user activation and retention, realization and other several aspects. Besides, in 2015, Duiba took the lead in conducting the interactive advertising business to reach target customers in non-first-tier cities, and achieved a win-win situation for advertisers, media providers and users through ad realization.

Support for banks with breakthrough offline strategies
The SaaS field is a big market. For SaaS service providers, whether or not they can seize market opportunities has nothing to do with their own strength, but their ability to take the best advantage when opportunity knocks. We find in a careful analysis of Duiba’s source of new customers that the increase in Duiba’s unit price and customer base mostly comes from offline sources, such as typical banking institutions.

For Duiba, providing SaaS services to banks is a great choice with vast potential opportunities:
First of all, banks are driven by the current trend to move their businesses online. According to a McKinsey survey, 40% of Chinese respondents expressed their preference for mobile banking, and 20% of Chinese respondents expressed their intention to use offline banking outlets less. In the context of the 5G technology and the coming era of 5G, banks will face great difficulties in acquiring new customers in the future and even lose their existing customers if they do not move their businesses online as soon as possible.

Furthermore, banks face challenges in moving their businesses online. Being accustomed to the comfortable days in the past, banks have no idea of Internet, and are too weak to confront Internet giants and fintech companies. Therefore, from the perspective of input-output ratio, banks desperately need outsiders such as SaaS service providers to help them move their businesses online.

Moreover, more and more customers prefer digital banking channels to traditional banking outlets in the context of COVID-19. According to a BCG survey, after COVID-19, the utilization rate of mobile banking is expected to further increase by 19%, and that of traditional banking outlets is expected to further decrease by 26%.

Duiba’s advantages in giving professional support to banks are described as below:
On the one hand, Duiba has run online since the beginning and has unique advantages online, and therefore, it can help banks to gradually convert customers who get banking services at offline banking outlets into online customers and include them in banks’ systems and to retain existing customers in face of the fierce horizontal competition.

On the other hand, Duiba focuses on user management and is familiar with “Gen Z”, and therefore can help banks acquire new customers including “Gen Z”.

In Duiba’s experience, Gen Z is more likely to participate in discussions on online social platforms and to focus on pan-entertainment information. In terms of daily consumption habits, Gen Z prefers to share membership to watch movies, place group orders for takeaways, search “price-cutting”, “coupons” and other discount information before shopping online, and the joy of “bargain hunting” in sales and shopping festivals.

Therefore, in view of Gen Z’s consumption habits, Duiba has helped banks to come up with many operation modes centring on user habits, such as IP pets, interactive games and mystery boxes.

According to the feedback from Duiba’s partners, with the help of Duiba, one out of four active users of bank cards can be converted on average to apply for instalment credit, with an event participation rate of 72.74% and a sharing rate of 53.8%. It can be seen that the SaaS services provided by Duiba can efficiently support banks in conducting their businesses.

In return, Duiba’s professional support to banks has also laid a foundation for its steady long-term business performance. On the one hand, key customers such as banks are very resilient to risks and are less likely to lose due to insolvency, and they are financially strong and have a strong willingness to renew.

On the other hand, key customers face high replacement costs. For banks, they will not change a SaaS service provider they have selected unless in unavoidable circumstances. This is because if they change, they will not only have to pay high costs of data transfer involving several divisions and businesses but also face the risk of data loss.

Generally speaking, key customers such as banks have a positive, long-term and sustainable impact on the growth of Duiba’s business performance. But in addition, Duiba has expanded its business since April 2018 to include offline companies with strong latent demand for user management solutions, a nimble strategy that led exactly to Duiba’s business outperformance.

Contact:
Jing Gao, Peanutmedia
E-mail: gaojing@czgmcn.com
Website: www.Peanutmedia.com

Shareandstocks.com Provides Clients with News and Data to Help Make Informed Investments

Shareandstocks.com, a digital stock market news outlet, launches premium aggregate finance news from major sources. They have a team of professionals in the field who are experts at collecting information and articles from various sources around the world.

The company is made up of a team of Individuals with a wide-ranging and in-depth understanding of the stock market events in US, Hong Kong, Singapore, China, Malaysia as well as other countries around the world. They are equipped with proving clients with the best possible experience, thanks to their incredible manpower, supported by cutting-edge computer systems.

The company’s main aim is to build a community of investors. Investors needs a wide array of information to help them to make wise investment decisions and timely news is of paramount importance. They are also constantly working hard to include more investor friendly features.

What shareandstocks.com offers here is tons of business and economic news that can keep viewers informed of what is going on in the markets. And to be successful and have better information, viewers want instant news about stock trading from various sources. That’s where shareandstocks.com can be a great choice for any investors looking to invest in stocks worldwide, cryptocurrencies or forex.

Shareandstocks.com is here to provide the latest news on all major stock markets like the US, Hong Kong, China, Singapore, and Malaysia and also cover IPO, cryptocurrency, and Forex news. Among some of the trendy topics, besides investing news, is a section of charts and graphs to help the reader visualize data.

Based in Malaysia, shareandstocks.com offers an ample amount of reliable content for beginner and professional investors, with various articles, analyses that range on various financial topics and markets. The company’s mission statement is to bring the experience working with Fortune 500 companies to the table.

For more information, please visit: www.shareandstocks.com

Media contact
Brand: Shareandstocks.com
Contact: Vicky Lee
E: admin@shareandstocks.com
W: https://www.shareandstocks.com/

SOURCE: Shareandstocks.com

Sixth Belt and Road Summit draws to successful close

Government and business leaders foster trade and investment

The sixth Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), drew to a successful close yesterday (2 September). In response to the COVID-19 pandemic, this year’s summit was changed to an online event. The virtual platform helped to overcome geographical boundaries, with more than 17,000 viewers from about 80 countries and regions attending the summit.

Under the theme “Driving Growth through Fostering Regional and International Trade”, the sixth Belt and Road Summit brought together more than 17,000 participants from about 80 countries and regions.
Paul Chan, Financial Secretary of the Hong Kong Special Administrative Region (HKSAR), spoke at a session titled “Belt and Road and RCEP: Enhancing Regional Business Connectivity”.
Teresa Cheng, Secretary for Justice of the HKSAR, highlighted the “incredible opportunities” afforded to Hong Kong’s legal sector by the 14th Five-Year Plan and Greater Bay Area Outline Development Plan.

Under the theme “Driving Growth through Fostering Regional and International Trade”, the two-day summit featured more than 80 government and business leaders from countries and regions along the Belt and Road, along with investors from Mainland China, the Asia-Pacific region, Europe, the Middle East and Africa as well as project owners and professional investment advisers. They all came together to discuss the latest developments driven by the Belt and Road Initiative.

Investment projects drive geographical connections
Holding the conference virtually presented no barrier to meaningful exchanges among participants. In addition to various breakout discussion sessions, the 2021 summit featured one-to-one business matching meetings and project pitching sessions that proved popular among both project owners and participants. The summit received over 260 investment projects from 42 countries and regions along the Belt and Road and beyond, including the Greater Bay Area, Indonesia, Thailand, Philippines, Sri Lanka, Italy, Egypt, UAE, Djibouti and others, focusing on four major areas – (1) energy, natural resources and public utilities; (2) innovation and technology; (3) urban development; and (4) transport and logistics infrastructure.

Belt and Road and RCEP foster global growth
The Regional Comprehensive Economic Partnership (RCEP) has become a key milestone in regional cooperation, developing significant synergies with the Belt and Road Initiative. In a plenary session titled “Belt and Road and RCEP: Enhancing Regional Business Connectivity”, Paul Chan, Financial Secretary of the HKSAR, remarked that Hong Kong’s strategic location makes the city a gateway for trade, investment and business between Mainland China and other RCEP economies, particularly countries in the Association of Southeast Asian Nations (ASEAN). “Hong Kong’s trade in goods with the 15 RCEP economies last year totalled US$772 billion, accounting for about 73% of our total merchandise trade. In 2019, our trade in services with the RCEP was worth US$103 billion, accounting for nearly 60% of our services trade. China’s 14th Five-Year plan supports Hong Kong’s status as an international financial, transport and trade centre, and it encourages our continuing cooperation and exchanges with countries and regions around the world,” Mr Chan said.

Huang Zhaohui, CEO and Chairman of the Management Committee, China International Capital Corporation (CICC), stated that the RCEP covered about one-third of the world’s total population and accounted for one-third of global GDP, making it the world’s largest free trade agreement. He believes the RCEP will bring great benefits to regional trade and investment. “The RCEP will deepen trade and economic connections between leading countries in the region through tariff reductions. We expect that China-Japan trade tariffs will be significantly reduced while China and Korea will further promote trade facilitation in key areas. This in turn will effectively increase the volume of trade between member countries and enhance regional economic vitality and competitiveness. At CICC we have decided to increase our overseas deployment, especially in Belt and Road countries. We are looking forward to long-term investment, leveraging our financial capabilities to assist the economic and capital market development of these countries.”

Edward Yau, Secretary for Commerce and Economic Development of the HKSAR, added that Hong Kong has been striving to expand its economic and trade network worldwide through regional cooperation. “While we are seeing some backpedalling in certain areas of the global economy, there are sufficient incentives and also momentum to move towards to more regional cooperation. Hong Kong stands ready, as always, to be the platform and also the conduit for freer trade, not just in our part of the region, but also in the wider sense of the global economy.”

Opportunities abound in Greater Bay Area
The 14th Five-Year Plan highlighted how the development of the Greater Bay Area will lead to boundless opportunities. This year’s summit included the new GBA Track thematic series that featured plenary and panel discussion sessions, thematic breakout sessions and a virtual exhibition, covering a wide range of topics, including capital raising, green finance, digital technology applications and start-ups. Sun Yu, Vice Chairman and Chief Executive, Bank of China (Hong Kong) noted, “Infrastructure construction is the key to success of the Belt and Road Initiative, as infrastructure construction has a strong correlation with GDP growth. The tremendous demand for infrastructure investments along the Belt and Road has presented new business opportunities for commercial banks. Hong Kong commercial banks can take up the role as the project financing advisor and solutions provider. Through collaboration with policy banks, insurance companies, law firms and business consultants, they can build a financial services ecosystem, and make good use of market-oriented mechanism to provide systematic, diversified and innovative solutions, as well as financing support for suitable infrastructure projects.”

Teresa Cheng, Secretary for Justice of the HKSAR, delivered a welcome speech in a session titled “Fostering Trade and Resolving Disputes in the Post-COVID Era – Hong Kong’s Legal and Dispute Resolution Services”. She mentioned the business opportunities and unique advantages of Hong Kong under “one country, two systems”, explaining that the 14th Five-Year Plan and Greater Bay Area Outline Development Plan explicitly support Hong Kong as the centre for international legal and dispute resolution services in the Asia-Pacific region. “These two national policies have afforded incredible opportunities to the legal sector and therefore the businesses that utilise our legal and dispute resolution services,” she said.

China International Capital Corporation Ltd serves as the Strategic Partner of the sixth Belt and Road Summit; Bank of China (Hong Kong) Ltd as the Regional Banking Partner; China Merchants Group as the Sapphire Sponsor; China Taiping Insurance Group as the Affiliated Insurance Partner; and China Mobile International Limited as the Platinum Sponsor.

Websites
– Belt and Road Summit website: https://www.beltandroadsummit.hk/en
– HKTDC Belt and Road Portal: http://beltandroad.hktdc.com
– Photo download: https://bit.ly/3tgRVdG

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries:
HKTDC’s Communications & Public Affairs Department
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Christine Kam, Tel: +852 2584 4514, Email: christine.kam@hktdc.org

TEC case study on the Future of Work: Standard Chartered Bank found that around 75% of their employees wanted greater workplace flexibility

The Executive Centre (TEC) and Standard Chartered Bank found that successful strategies for implementing flexible work practices boiled down to physical, digital and social transformation

The office of the future must be an inspiring physical space that facilitates communication, cooperation and collaboration in order to encourage employees to come into the office, according to the latest case study by The Executive Centre (TEC), the leading premium flexible workspace and Standard Chartered Bank.

Modern technology and globalised communication systems have allowed us to become a more agile and mobile workforce, and these trends have accelerated with the COVID-19 pandemic. The workforce culture today is increasingly championing flexible working practices as the Future of Work. Standard Chartered Bank is leading the shift for multinational corporates towards adopting a flexible work culture through an extensive review and analysis of their portfolio and employee needs.

Sheridan Perkins, Property Program Director of Future Workplace, Now at Standard Chartered Bank said, “Initially, we assumed maybe 50% of our employees wanted Flex, but actually from our survey we found that over 75% wanted it. Typically, this was 2-3 days at home and 2-3 days at the office or a third space. Despite some regional nuances, this finding was reasonably consistent across all regions.”

The case study reviews the learnings from Standard Chartered Bank’s exercise and provides a roadmap for other organisations that realise the value of flexibility but find it challenging to create an architecture to empower change.

One of the key learnings is that for companies to successfully transition towards flexible working practices, they need to understand their business requirements and priorities first, as there is no one-size-fits-all solution. They must also interview and collaborate with their employees extensively, conduct research to make informed decisions, seek external consultations from multiple industry partners, and understand where their operations need to be geographically and how the occupants will use that space. While the company approach must be tailored, there were three factors that all companies should consider in their workplace strategy: Physical, Digital and Social.

— Physical transformation: As people will be coming into the workplace to perform activities that they cannot do at home, office design will become one that facilitates communication, cooperation and collaboration.
— Digital transformation: With an increasing demand to work flexibly and remotely, technology and digitalisation of workflows will play a pivotal role in enabling day to day productivity.
— Social transformation: As the office will become a place where employees choose to work from, greater incentives will be needed to attract people into the office.

For its Greater Bay Area location, Standard Chartered Bank realised it required private office spaces and
meeting rooms in a CBD location which would allow for multiple business units to operate, and a flexibility to scale up or down as their business needs changed. The Executive Centre’s flexible workspace solution gave them the ability to mitigate their risks and reduce costs while remaining in the heart of Guangzhou’s central business district.

“As a solution, flexible workspaces provide ready to use, fully furnished and serviced workspaces for the headcount that’s needed at hand. This ability to scale up or down or move locations at relatively short notice is a highly intelligent way for companies to address their workspace requirements,” said Paul Salnikow, Founder & CEO of The Executive Centre.

Shelley Boland, Head of Property Asia Pacific, Standard Chartered Bank added, “The talent of the future are expecting flex; whether that’s flexible work hours or locations. Successful adopters of flex will be those that have the foresight to model and visualise how workplace changes may affect business outcomes, operations and employees, and be agile enough to constantly evolve their workspace to those needs. We see flexible office spaces playing a greater role in that strategy.”

See the full case study from the below link for more insights and best practices from Standard Chartered Bank and The Executive Centre’s Future of Work collaboration.

https://tinyurl.com/3vkbezyn

About The Executive Centre
The Executive Centre (TEC) opened its doors in Hong Kong in 1994 and today boasts over 150+ centres in 32 cities and 14 markets. It is the third largest serviced office business in Asia with annual turnover in excess of US$237 million.

The Executive Centre caters to ambitious professionals and industry leaders looking for more than just an office space – they are looking for a place for their organisation to thrive. TEC has cultivated an environment designed for success with a global network spanning Greater China, Southeast Asia, North Asia, India, Sri Lanka, the Middle East, and Australia, with sights to go further and grow faster. Each Executive Centre offers a prestigious address with the advanced infrastructure to pre-empt, meet, and exceed the needs of its Members. Walking with Members through every milestone and achievement, The Executive Centre empowers ambitious professionals and organisations to succeed.

Privately owned and headquartered in Hong Kong, TEC provides first class Private and Shared Workspaces, Business Concierge Services, and Meeting & Conference facilities to suit any business’ needs.

For more information please visit www.executivecentre.com

Press Enquiries
Finsbury Glover Hering
Sheena Shah / Crystal Chow
Sheena.Shah@fgh.com / +852 3166 9855
Crystal.Chow@fgh.com / +852 3166 9838

Sixth Belt and Road Summit opens today

Connecting government and business leaders online to foster trade

The sixth Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), opened today. The two-day event is being held online this year under the theme Driving Growth through Fostering Regional and International Trade. The summit will explore opportunities arising from the Belt and Road Initiative, the Guangdong-Hong Kong-Macao Greater Bay Area and the Regional Comprehensive Economic Partnership (RCEP) through a variety of activities, including policy dialogue and plenary sessions, thematic breakout sessions, one-to-one project matching and project pitching sessions and a virtual exhibition. More than 6,000 participants from over 80 countries and regions registered for the summit.

In his welcome remarks, Dr Peter K N Lam, Chairman of the HKTDC, said the summit will continue to provide a quality online platform to network and share insights.
The sixth Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the HKTDC, opened today under the theme
During the summit, a memorandum of understanding was signed between the HKSAR Government and the Ministry of Commerce on enhancing co-operation in promoting the development of the mainland’s overseas Economic and Trade Co-operation Zones.

This morning’s opening session was joined by Carrie Lam, Chief Executive of the HKSAR; Gao Yunlong, Vice-chairman of the National Committee of the Chinese People’s Political Consultative Conference, and Chairman of the All-China Federation of Industry and Commerce; Dr Peter K N Lam, Chairman of the HKTDC; Wang Wentao, Minister, Ministry of Commerce, the People’s Republic of China; Hao Peng, Chairman, the State-owned Assets Supervision and Administration Commission of the State Council (SASAC), the People’s Republic of China; Ning Jizhe, Vice Chairman, National Development and Reform Commission, the People’s Republic of China; Liu Guangyuan, Commissioner, Office of the Commissioner of the Ministry of Foreign Affairs of the People’s Republic of China in the HKSAR; and Klaus Schwab, Founder and Executive Chairman, World Economic Forum.

Values of multilateralism have never been more vital – Carrie Lam
Delivering the opening address, Carrie Lam said: “Today, amid the continuing spread of protectionism, the values of multilateralism have never been more vital. It’s why this year’s Belt and Road Summit is focused on regional and international trade, with particular attention given to the Guangdong-Hong Kong-Macao Greater Bay Area and the Regional Comprehensive Economic Partnership, or RCEP. These two immensely promising developments are destined to work hand-in-hand with the Belt and Road Initiative to boost the manifold benefits of multilateralism.”

Addressing the opening session in his keynote speech, Gao Yunlong said: “Hong Kong is an important platform for the development of the Belt and Road. Over the years, Hong Kong has made full use of its advantages in international finance, trade and professional services to play an important role as a super-connector for developing the Belt and Road. The 14th Five-Year Plan and the Long-Range Objectives through the Year 2035 support Hong Kong to build a functional platform for developing the Belt and Road. This fully reflects the Central Government’s trust and support for Hong Kong. We believe that as an important facilitator of the ‘dual circulation’, Hong Kong, the Pearl of the Orient, will become even more brilliant in the future.”

Leveraging Hong Kong’s advantages to maximise potential – Dr Peter K N Lam
In his welcome remarks, Dr Peter K N Lam said: “The theme of this year’s summit is ‘Driving Growth through Fostering Regional and International Trade’. Leading experts and leaders are sharing insights on how businesses can leverage developments such as the RCEP and Greater Bay Area to capture new opportunities along the Belt and Road and beyond. Participants can also catch up on the latest developments in Hong Kong which can help them to maximise this potential. The summit continues to provide a powerful online platform to make connections and share ideas.”

Giving the perspective of the World Economic Forum, Klaus Schwab mentioned that as the world faces the pandemic and its economic fallout, and we experience the transformative impact of the Fourth Industrial Revolution, there is a greater need for more regional and global cooperation, mainly in four areas: digital trade and governance, tackling the COVID pandemic, investment in green infrastructure and global supply chains.

Policy Dialogue session explores impact of economic policies
Following the opening session, the Policy Dialogue session helped businesses to understand the policies of different countries and regions to give them a head start in capturing Belt and Road opportunities. Moderated by Edward Yau, Secretary for Commerce and Economic Development of the HKSAR, the session explored the development trends resulting from various economic policies, featuring officials from countries and regions along the Belt and Road. Speakers included Dato Lim Jock Hoi, Secretary-General of ASEAN; Yang Berhormat Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah, Minister at the Prime Minister’s Office and Minister of Finance and Economy II, Brunei Darussalam; Pan Sorasak, Minister of Commerce, the Kingdom of Cambodia; Jerry Sambuaga, Vice Minister of Trade, Indonesia; Ramon Lopez, Secretary, Department of Trade and Industry, the Philippines; Tan See Leng, Minister for Manpower and Second Minister for Trade and Industry, Republic of Singapore; Sansern Samalapa, Vice Minister of Commerce, Thailand; and Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, United Arab Emirates.

Plenary session examines how Belt and Road and RCEP can foster global growth
One of the plenary sessions held this morning ran under the title “Belt and Road and RCEP: Enhancing Regional Business Connectivity”. Paul Chan, Financial Secretary of the HKSAR, delivered the welcome remarks. The session featured industry leaders from Hong Kong, Mainland China and the RCEP market, including Victor Chu, Chairman & CEO, First Eastern Investment Group; Sean Chiao, Asia Chairman and Global Business Line Chief Executive, Buildings and Places, AECOM; Huang Zhaohui, CEO and Chairman of Management Committee, China International Capital Corporation Limited; Wang Cuijun, Director, China Merchants Group Limited; Suroj Lamsam, CEO & President, LOXLEY Public Company Limited in Thailand; and Michael Tan, President & Chief Operating Officer, LT Group in the Philippines. The speakers provided insights and analysis on how the RCEP, signed last November, and the Belt and Road Initiative can contribute to growth, cooperation and development as the global economy begins to show signs of recovery following the pandemic.

Breakout sessions explore hot-button issues on first day of summit
Five thematic breakout sessions were held this afternoon covering topics including “RCEP: Fostering Post-pandemic International Infrastructure Cooperation along the Belt and Road”, “Fostering Trade and Resolving Disputes in the Post-COVID Era – Hong Kong’s Legal and Dispute Resolution Services”, “‘Greener’ Bay Area: through the Sustainable Finance Lens”, “Belt and Road Opportunities for SMEs”, and “Supporting the National Strategy of Dual Circulation through Captives and Reinsurance”. Project owners are also invited to attend project pitching sessions to explore potential investment projects in the areas of energy, natural resources and public utilities. More thematic breakout sessions and project pitching sessions will be held tomorrow – details of the programme, speakers and partner organisations can be found at https://www.beltandroadsummit.hk/tc/programme/programme.

GBA Track series focuses on opportunities in Greater Bay Area
The 14th Five-Year Plan highlighted how the development of the Greater Bay Area will lead to boundless opportunities. This year’s summit features the new GBA Track thematic series that features plenary and panel discussion sessions, thematic breakout sessions and a virtual exhibition. One of the highlights will be a plenary session held tomorrow under the theme “Connecting the Belt and Road & Greater Bay Area through Hong Kong”. Moderated by Victor Fung, Group Chairman, Fung Group, the session will feature speakers including Dato’ Seri Cheah Cheng Hye, Co-Chairman and Co-Chief Investment Officer, Value Partners Group Limited; Jack So, Chairman, Airport Authority Hong Kong; Sun Yu, Vice Chairman and Chief Executive, Bank of China (Hong Kong) Limited; and Wang Shi, Honorary Chairman & Founder, Vanke Co., Ltd and Chairman, Shenzhen Foundation for International Exchange and Cooperation. Panel discussion sessions and thematic breakout sessions being held under GBA Track will cover a wide range of topics, including capital raising, green finance, digital technology applications and start-ups, all of which are of interest to enterprises interested in exploring the Greater Bay Area market.

One-to-one project matching and project pitching sessions
In addition to the plenary sessions, the HKTDC continues to arrange one-to-one project matching sessions and project pitching sessions as part of the summit to promote concrete cooperation and exchange. Continuing the success at previous summits, this year’s one-to-one project matching sessions will promote direct dialogue between project owners, investors and service providers to discuss cooperation plans according to their specific business and investment needs. The project pitching sessions are focusing on four key areas: (1) energy, natural resources and public utilities, (2) innovation and technology, (3) urban development, and (4) transport and logistics infrastructure.

Another key feature of the summit is the virtual exhibition, which has doubled in scale from the previous event to showcase more than 60 exhibitors. The Global Investment Zone and Hong Kong Zone will once again feature Hong Kong’s world-class professional services that are valuable for success along the Belt and Road, as well as numerous investment projects and other opportunities worldwide. The new GBA Tech Zone will showcase the latest technology and related opportunities in the Greater Bay Area.

MOUs promote multilateral cooperation
Two important memoranda of cooperation are being signed at the summit, both of which will help to promote development related to the Belt and Road. During the summit today, a memorandum of understanding (MOU) was signed between the HKSAR Government and the Ministry of Commerce on enhancing co-operation in promoting the development of the mainland’s overseas Economic and Trade Co-operation Zones. A Hong Kong enterprise signed another MOU related to cooperation on advanced medical equipment and research with its Kazakhstani counterpart. The MOU was signed online by Edmond Yau, Founder and CEO of Hong Kong firm Koln 3D Technology (Medical) Limited, and Dilyara Kaidarova, Board Chairperson of the Kazakh Institute of Oncology and Radiology (KazIOR).

China International Capital Corporation Ltd serves as the Strategic Partner of the sixth Belt and Road Summit; Bank of China (Hong Kong) Ltd as the Regional Banking Partner; China Merchants Group as the Sapphire Sponsor; China Taiping Insurance Group as the Affiliated Insurance Partner; and China Mobile International Limited as the Platinum Sponsor.

The Sixth Belt and Road Summit
Date: 1-2 September 2021 (Wednesday and Thursday)
Details
– Belt and Road Summit programme:
https://www.beltandroadsummit.hk/en/programme/programme
– Belt and Road Summit speaker list:
https://www.beltandroadsummit.hk/en/speaker/speakers
Venue: Virtual platform

Websites
– Belt and Road Summit: https://www.beltandroadsummit.hk
– HKTDC Belt and Road Portal: http://www.beltandroad.hk
– Photo download: https://bit.ly/3DyDtCl

About HKTDC
The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong’s trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus.

Media enquiries
HKTDC’s Communications & Public Affairs Department
Christine Kam, Tel: +852 2584 4514, Email: christine.kam@hktdc.org
Clayton Lauw, Tel: +852 2584 4472, Email: clayton.y.lauw@hktdc.org
Sunny Ng, Tel: +852 2584 4357, Email: sunny.sl.ng@hktdc.org