Financial experts focus on Asia growth at forum in HK

The sixth Asian Financial Forum (AFF) kicked off here on Monday, attracting some 2,000 business and government leaders from around the world, spotlighting Asia's fast-expanding role in the global economy.

Under the theme "Asia: Shaping the Next Global Landscape", the two-day forum tackles several key issues on China's opportunities, such as China's agenda for reforming its financial system, trends and opportunities in the global use of renminbi and the China- ASEAN business partnership.

The forum also discusses the future of the eurozone, global investment opportunities and challenges and risks in the world's food and agriculture sector.

Chief executive of the Hong Kong Special Administrative Region C Y Leung said despite the global financial crisis, Asia has achieved stable employment conditions, maintained prudent fiscal policies and continued to focus on fostering economic development.

Leung said Asia is no longer simply a "factory of the world", but a facilitator of inclusive growth and prosperity on the back of rising consumption and wealth creation. He said Asia's growing middle class, including those on the Chinese mainland, is helping to support domestic demand which is essential for sustainable growth.

He said the forum is an important platform, not only for nations in this region, but also for countries around the world to get more involved in the growth of Asia, and Hong Kong will continue to invest heavily in fostering human capital and infrastructure development to raise its competitiveness and promote high value-added and knowledge-based activities.

"I am confident that Hong Kong will continue to play an important role in the Asian Century."

Co-hosted by the HKSAR government and the Hong Kong Trade Development Council, the forum invited more than 90 prominent speakers, including Deputy Prime Minister and Treasurer of Australia Wayne Swan, President and CEO of the Federal Reserve Bank of Chicago Charles Evans, Italy's Minister of Economy and Finance Vittorio Grilli and Chairman of the China Securities Regulatory Commission Guo Shuqing.