Sat, 10 Jun 2023

HONG KONG, March 24 (Xinhua) -- An international financial regulatory conference co-organized by the Hong Kong Monetary Authority (HKMA) and the Bank for International Settlements (BIS) concluded Friday in Hong Kong, with insights on how to enhance the resilience of the banking system.

The conference brought together over 100 senior officials of central banks and regulatory authorities as well as top executives of financial institutions from more than 25 economies.

It also marked Hong Kong's first large-scale conference for the international financial regulatory community after all social distancing measures in the city were lifted in early March and normal travel between Hong Kong and the mainland resumed.

It followed a two-day meeting of the Basel Committee on Banking Supervision held in Hong Kong from March 22 to 23, which was the first physical meeting of the committee outside of Basel, Switzerland since COVID-19 broke out.

Speakers also exchanged views on better preparing for the future in light of the opportunities and challenges brought about by crypto assets, from the perspectives of both financial regulators and market players.

Chief Executive of the HKMA Eddie Yue said these are the first large-scale international meetings for the financial regulatory community after Hong Kong's full return to normal, and the enthusiastic response to these two events is a clear testimony to Hong Kong's return to the international arena.

Several more international financial meetings are in the pipeline this year to showcase "Hong Kong is back," he said.

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