Reflection on “meeting of minds”
Date: April 25, 2006/5/7
Time: 5:00pm- 6:00pm
Venue: IFC (HKMA)
Speaker: Mr. Joseph Yam (Chief Executive of HKMA)
Title: Reflections on the Hong Kong Financial market and your future
Organizer: HKU
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Wendy Lam
The participation of “Meetings of Minds” was really a significant and didactic
experience. The topic that day was “Reflection on the Hong Kong financial market
and your future” and the speaker was Mr. Joseph Yam, the chief Executive of Hong
Kong Monetary Authority.
Mr. Yam started his sharing by defining the word “finance” means, which is the flow
of capital between borrower and lender in a loanable fund market. He then mentioned
the advantages Hong Kong possesses and the threats Hong Kong faces. As China is
gradually opening up its market and its economy is developing rapidly, Hong Kong is
now facing the problem of “margining”(邊緣化). He suggested some measures to
strengthen the role of Hong Kong as an international financial center. The measures
include improving the connection of basic infrastructure between Hong Kong and
China, developing Renminbi business and etc.
As Hong Kong has a close relation with China and Renminbi is likely to appreciate in
the future, I asked Mr. Yam whether Hong Kong will have a chance to remove its
linked rate with US dollar and linked with Renminbi in the future. Mr. Yam explained
that he would not dispute the chance, but it would be a long way to go. It is because
China’s financial market still has much to improve and it would take a long time for
China to open up its financial market.
Mr. Yam was very friendly and approachable and he was really willing to share his
opinions on the future of Hong Kong. It was really a great chance for me to know
more about the financial market of Hong Kong and its close relationship with China.
Joyce Leung
On the 25th April, 2006, we have a talk with Mr. Joseph CK Yam, the Chief Executive
of the Hong Kong Monetary Authority. It was really a great experience and leaves me
with a deep and lasting impression. The talk was informative and has great
educational value. For example, I learnt that keeping a close contact with the outside
world is very important. Mr. Yam said that following China’s ascending dominance in
the international arena; every business in Hong Kong will have a close relationship
with the Mainland. So, before leaving the school and start working, it is time for us to
equip ourselves and prepare for the future by learning Putonghua, keeping well
informed of the important daily happenings of the whole world!
Wendy Ho
After having a meeting with Mr. Joseph Yam who is the Chief executive of Hong
Kong Monetary Authority, I have learned a lot from such a successful person. The
topic delivered by Mr. Yam was “Reflections on the Hong Kong financial market and
your future.” In this one-hour meeting, Mr. Yam explained what “Finance” is and
shared his view on the future financial development in Hong Kong. It is closely
related to our future. This is a valuable experience for me to broaden my view on the
financial development in Hong Kong and prepare and equip myself to deal with the
changing world.
Kitty Hon
Before attending the talk, I am quite worry that I may not be able to understand Mr.
Joseph Yam’s speaking. However, during the talk, I find out that Mr. Yam tries to
simplify the complicated cases in reality to let all audience to comprehend his speech.
Throughout the talk, I am most impressed with Mr. Yam’s explanation on an advanced
financing system. This make me understand more about Hong Kong’s present
economic situation. As an international financial centre, Hong Kong government has
done a lot to maintain its efficient financing system. I hope I can have the chance to
attend this kind of talk in the future, so as to learn more about the society around us.
Petty Lo
The talk is so impressive. I believe that both the speaker and participants were
enjoying themselves in the sharing, and inspiring questions were raise by students
from many other schools Besides learning the basic concept of a financial market, I
am also impressed by the humble attitude of the speaker. He really becomes one of the
true models of leader in my mind. His enthusiasm towards his job made me
understand that one could never success unless he enjoys what he his doing. I do learn
a lot from the talk. If there is similar function next time, I do like to participate again.
Toby Lam
Before having the meeting given by Mr. Joseph CK Yam about the “Reflections on the
Hong Kong financial market and your future”, I didn’t familiar with the financial
market of Hong Kong, and even I didn’t have a clear concept of what finance is. After
attending the lecture, I got a better understanding on the importance of having a stable,
reputable, diversified and efficient financial market and how financial activities can
boost the economic development of the city or the country. Mr. Yam also predict the
financial development of Hong Kong in the following years, he said if Hong Kong
wants to maintain her international financial position, she ought to have a better
linkage and co-operation with mainland China. It is a golden meeting for me because
it let me know the future development of Hong Kong; this guides me to think about
my road of the future and remains to equip myself now.
Karen Chan
“Meeting of Minds” is definitely an unforgettable experience for me. Not only that it
was my first time to step foot in the auditorium of IFC, I also had the opportunity to
meet Mr. Joseph Yam, the Chief Executive of HKMA. The topic, which Mr. Yam
discussed on that day, was “Reflection on the Hong Kong financial market and your
future”. At first, I worried the talk to be too informative. Out of my surprise, with Mr.
Yam’s lively presentation, it turned out to be interesting and lured the audience.
I was most impressed by the term “Bedtime Story”, which was introduced to describe
the financial market. It had the hidden meaning of the formation and characteristics of
a successful financial market.
One minor problem was that there was some information, which was beyond my
ability to understand. I do hope in my future studies, I will be able to have a much
better understanding. Above all, the talk helped me to gain a further insight into the
Hong Kong financial market and it is really useful.
Vivien Lam
I am glad to have a chance visiting the Hong Kong Monetary Authority on 25th April,
2006 organized by the Hong Kong University. The speaker, Mr. Joseph Yam had
talked about the topic “Reflections on the Hong Kong financial market and your
future”.
In fact, it is a valuable chance meeting with the Chief Executive of the HKMA and I
felt really excited during the talk. I learnt a lot of new concepts from the talk for
example, the meaning of finance, and heard about the structure of a financial market.
Originally, I thought that finance is something related to money and bank only.
However, it actually means the flow of money from people with extra savings to those
who need money. These two groups of people are linked up by some mechanisms like
banks, so that money can be used in the most efficient way. Besides, I am also
impressed by the “BEDTIME” story, where each letter represents a component of a
financial market. These components are essential to keep a financial market run
smoothly.
All in all, I enjoy the talk so much in which I can learn more about the financial
market, and understand more about the economic problems faced by Hong Kong. I
hope that I will have a chance to attend similar talks in the future.
Jessica Man
After attending the talk, I was more familiar with the present situation of Hong
Kong’s economy. Since Hong Kong was facing great challenges from other places
like Shanghai and Singapore, we must prepare ourselves in order to more competitive.
For example, we should make use of our favourable geographical location and turn it
into our advantages over other places. Besides, I was impressed by Mr. Joseph Yam as
he shared his personal experience with us. He made me realized that efforts must be
made to achieve success. When he answered questions raised by students from other
schools, he also made me feel that he was passionate in sharing his views with
students and gave us lots of encouragement. Therefore, I think this talk was very
enjoyable and meaningful as I have learned lots of things from it.
Plaisir Cheung
This talk “Meeting of Minds” was a meaningful and interesting one. Throughout the
talk, I have learnt more about the financial market in Hong Kong as well as the future
of Hong Kong’s financial sector.
Mr. Joseph Yam had mention a lot regarding different monetary matters. I also knew
more about the future focus of Hong Kong’s financial industry. It is to strengthen our
role as a middleman, providing a platform for the foreign investors to trade with the
mainland businessmen. I should therefore pay more attention on this issue when
pursuing my future career.
And the section explaining his “BED SIDE” theory impressed me most. This refers to
BED – Banking, Equity, Debt and SIDE – Stability, Integrity, Diversity, Efficiency.
Mr. Yam said that a mature and perfect financial centre should consist of these
components. With all these components, a monetary market could run smoothly.
That’s why Hong Kong, who can fulfill all this criteria, is a famous international
financial centre.
After this talk, I have learnt more about on finance. The atmosphere during the talk
was not that serious as I expected, instead it is quite relax and full of fun. I have
gained a lot from it. If I have another chance to join such activity, I will surely
participate in it.
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