HKMA, HKIMR and HKUST co-organise the International Conference on Central Bank Digital Currencies and Payment Systems

The Hong Kong Monetary Authority (HKMA), the Hong Kong Institute for Monetary and Financial Research (HKIMR) (the research arm of the Hong Kong Academy of Finance), and the Hong Kong University of Science and Technology (HKUST) today (11 April) successfully co-organised the International Conference on Central Bank Digital Currencies (CBDCs) and Payment Systems. The conference was attended by over 100 representatives from central banks, international bodies, academia, financial institutions and fintech firms.

The conference kicked off with keynote speeches by Mr Eddie Yue, Chief Executive of the HKMA, and Dr Dong He, the Deputy Director of the Monetary and Capital Markets Department of the International Monetary Fund. Professor Markus Brunnermeier, Edwards S. Sanford Professor of Princeton University and Director of Princeton’s Bendheim Center for Finance, also delivered a keynote speech for the afternoon session.

During the policy-oriented panel discussions and academic presentations, distinguished speakers from central banks, international bodies and academia shared their views on the latest developments pertaining to CBDCs and digital payments. Topics covered included the role of CBDCs in underpinning monetary policy, the co-existence of private and public money and their interplay in terms of interoperability, functionality and applications, and the future financial landscape with the rise of digital money.

Mr Yue said, “This conference has been an excellent opportunity to garner the insights of leading experts to holistically develop a vision for the future of money, and to align key stakeholders in establishing a strong foundation for the next frontier of financial innovation.  As a regulator, we will continue to be open-minded, responsive and prudent as part of upholding Hong Kong’s position as a leading financial centre.”

Mr Enoch Fung, Chief Executive Officer of the Hong Kong Academy of Finance and Executive Director of the Hong Kong Institute for Monetary and Financial Research, delivers welcoming remarks at the International Conference on Central Bank Digital Currencies and Payment Systems.

Mr Eddie Yue, Chief Executive of the Hong Kong Monetary Authority, delivers a keynote speech at the International Conference on Central Bank Digital Currencies and Payment Systems.

Dr Dong He, Deputy Director, Monetary and Capital Markets Department of International Monetary Fund, delivers a keynote speech for the morning session of the International Conference on Central Bank Digital Currencies and Payment Systems.

Ms Bénédicte Nolens, Head of BIS Innovation Hub Hong Kong, moderates a panel discussion titled “The Future of Money: Lessons Learnt from Central Banks’ CBDC Journey” with Mr Shu Pui Li, Advisor, Governor Office of Central Bank of the U.A.E.; Mr Colin Pou, Executive Director (Financial Infrastructure) of the Hong Kong Monetary Authority; and Mr Mamerto E. Tangonan, Deputy Governor, Payments and Currency Management Sector of Bangko Sentral ng Pilipinas.

Mr George Chou, Chief Fintech Officer of the Hong Kong Monetary Authority, moderates a panel discussion titled “CBDCs, Stablecoins, and Tokenised Deposits: Complements or Substitutes?” with Dr Jonathan Chiu, Senior Research Advisor, Banking and Payments Department of Bank of Canada; Professor Kar-Yan Tam, Dean, School of Business and Management of The Hong Kong University of Science and Technology; and Professor Beatrice Weder Di Mauro, President of Centre for Economic Policy Research and Professor of International Economics of Geneva Graduate Institute.

Professor Markus Brunnermeier, Edwards S. Sanford Professor of Princeton University and Director of Princeton’s Bendheim Center for Finance, delivers the keynote speech for the afternoon session of the International Conference on Central Bank Digital Currencies and Payment Systems.