BEIJING, Oct. 22, 2024 /PRNewswire/ -- China International Capital Corporation Limited (CICC) successfully hosted the "New Connections, Infinite Possibilities Wealth Management '50 Series' Renewal Launch" Event at the HKEX Connect Hall on October 22, 2024. This event focused on key topics such as the achievements of a decade of connectivity between the Chinese mainland and Hong Kong capital markets, global capital market dynamics, and the development of a comprehensive wealth management ecosystem.
A New Decade, A New Chapter of Connectivity
In the opening remarks, Wang Jianli, Member of the CICC Management Committee and President of CICC Wealth Management, emphasized that the 10th anniversary of the capital market interconnection mechanism between the Chinese mainland and the Hong Kong Special Administrative Region has marked a significant milestone, showcasing substantial achievements and a wealth of positive outcomes. Over the past decade, through continuous exploration and innovation, the scope of investments under this mechanism has expanded. The variety of investment products has enriched, and the two-way capital flow has significantly increased, laying a solid foundation for the integration and development of both markets. This mechanism has been an active practice of high-level financial opening-up through institutional opening-up.
"The integration and mutual promotion of the two markets have created broad business opportunities for the wealth management industry and have also set higher requirements for capability building." Wang said that as a long-time supporter and participant in this mechanism, CICC hopes to collaborate with all parties to contribute wisdom and strength in promoting China's high-level financial opening-up.
The event invited Daniel Fung, Vice Chairman of the Financial Services Development Council, Senior Counsel, and Wilfred Yiu, Deputy Chief Executive Officer at HKEX, as keynote speakers. They highlighted Hong Kong's pivotal role as a "super-connector" and "super value-adder" between East and West, linking the Chinese mainland to the global markets, as well as how the deepening and expansion of the interconnection mechanism have driven the high-quality development of the two markets.
The China Story: New Narrative and Broader Reach
As recent policy support intensifies, the business environment consistently improves, economic resilience strengthens, and investment enthusiasm and confidence surges. Chinese assets are back in the spotlight, and the global market is eager to understand China and gain insights from professionals in China.
Dr. Zhao Yang, Managing Director of CICC Global Institute, provided insights into the current global macroeconomic landscape at the event. He comprehensively analyzed of major economies' economic growth, industrial structures, and fiscal and monetary policies, while presenting a strategic framework for understanding current asset allocation opportunities and future development prospects. Other speakers shared key client concerns and offered innovative asset allocation strategies grounded in CICC's extensive practical experience in wealth management.
New Paradigm and New Framework for Wealth Management Ecosystem
At the event, CICC unveiled two new service frameworks: the "China Top 50 Internationalization" and the "Global Top 50", which build on the existing strengths of the "50 Series" within CICC Wealth Management's buy-side advisory system and aim to serve as a clear example of wealth management that embraces both "bringing in" and "going out."
Diao Zhihai, Head of International Business of CICC Wealth Management, highlighted in his speech that as a pioneering Chinese wealth management institution expanding overseas, aligning with national development goals and embracing a sense of mission and responsibility is crucial. On the one hand, financial institutions should act as a bridge, effectively connecting the Chinese mainland with key global capital markets and showcasing long-term investment opportunities in China's capital markets to attract international attention. On the other hand, they should serve as a link, helping Chinese enterprises tap into global resources and support the real economy. He said, "We are dedicated to helping clients preserve and grow their wealth across generations and collaborating with industries to create a broad, circular, and sustainable wealth management ecosystem for society".
CICC Wealth Management has extensive business coverage and large-scale operations, supported by a comprehensive research network and high-quality product solutions. CICC International Wealth Management is the international platform for CICC's wealth management business. Since its establishment in 2008, it has adhered to the philosophy of "Chinese Roots and an International Reach" building a dual-core business with bases in Hong Kong SAR and Singapore and a global outlook. CICC will continue to deepen cross-sector collaborations, provide excellent financial product services and remain committed to excellence, consistently creating value for clients and industries, and building a sustainable wealth management ecosystem for society.