On September 20, 2023, CIC Forum 2023 & Cross-Border Investment and International Industrial Cooperation Conference was held in Hong Kong. The conference was hosted by China Investment Corporation (CIC) and supported by the Hong Kong SAR Government. Entrepreneurs and senior executives of financial institutions from dozens of countries around the globe joined discussions on cross-border investment and international industrial cooperation, and exchanged views on investment cooperation in sectors of interests.

Mr. Peng Chun, Chairman of CIC, and the Hon John KC LEE, Chief Executive of Hong Kong SAR government, delivered opening speeches. Chairman Peng observed that the world calls for more openness, communication, and cooperation. Closer international industrial cooperation is needed to inject more certainty into the global sustainable development. As a sovereign wealth fund that invests around the globe, CIC is committed to its position as a long-term institutional investor that provides long-term capital for the sustainable development of the world economy. The company has developed new ways for outbound investment to facilitate win-win industrial cooperation, adhered to responsible investing to fuel low-carbon and green development of the world, and sought to build a global ecosystem for cross-border investment that bridges communication. He also called for joint efforts to make CIC Forum a more international, open, and creative platform for cooperation and communication in a bid to further enhance cross-border investment and industrial cooperation for stronger momentum of economic recovery and sustainable development.

The Hon John KC LEE extended congratulations on the successful convening of CIC Forum 2023 in Hong Kong. He observed that the focus of the forum, cross-border investment and sustainable development, is highly in line with Hong Kong’s role as the global center for asset allocation. Thanks to “One Country, Two Systems”, Hong Kong has become the most important hub for cross-border asset management in Asia, and is becoming increasingly relevant as the financial bridge between China and the rest of the world. In the meantime, Hong Kong will build on its position as the center for green finance in Asia and facilitate sustainable development in Asia and the world at large by supporting the issuance of green bonds in Hong Kong by institutions from around the globe.

Mr. Zhou Xiaochuan, Vice Chairman of the Board of Boao Forum for Asia and Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference, delivered a keynote speech. He said that under profound changes unseen in a century, the international community is faced with five major challenges, including inflation, market segregation risks, restructuring of global industrial chains and supply chains, technological advancements bringing shocks to traditional business formats and the job market, and the global capital market’s lack of focus on growth drivers such as the Belt and Road Initiative. He urged global investors to increase adaptability and respond to changes via innovative partnerships, hoping to voice the determination of global investors through CIC Forum to address challenges in concert through innovative partnerships.

Over twenty entrepreneurs and senior executives of financial institutions attended two roundtable sessions themed “Promote Industrial Cooperation through Cross-Border Investment” and “Green Investment Drives Sustainable Growth”, and shared their views on topics including cross-border investment and industrial cooperation, green investment, and investment opportunities in the post pandemic era. They believe that the world is confronted with challenges such as geopolitical issues, high inflation, and underfunded infrastructure in the post pandemic era. It is imperative for us to foster consensus on development through innovative ways for cross-border investment and international industrial cooperation, seek openness in the world economy, and jointly safeguard the steady and smooth functioning of global industrial chains and value chains, in a bid to add more certainty to global sustainable development. At the same time, energy transition is giving rise to opportunities for investment cooperation in green development, and countries should explore ways to really put sustainable investment on the ground and optimize investment footprints, and take coordinated measures to attain the goals on carbon peak and carbon neutrality. The speakers include:

• Gerhard Schroder, Former Chancellor of Germany;

• John Thornton, Chair Emeritus of Brookings Institution and Executive Chairman of Barrick Gold;

• Eddie Yue, Chief Executive of the Hong Kong Monetary Authority;

• Jim Yong Kim, Vice Chairman and Partner of Global Infrastructure Partners and Former President of the World Bank Group;

• Nicolas Aguzin, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited (HKEX);

• Mark McCombe, Vice Chairman of BlackRock;

• Robert O’Leary, Co-CEO of Oaktree Capital Management;

• William Ford, Chairman and Chief Executive Officer of General Atlantic;

• Frederic Ma, member of the International Advisory Council of CIC; and

• Andrew Sheng, member of the International Advisory Council of CIC.

In her closing remarks of the main forum, Laura M Cha thanked CIC for going all the lengths to promote the two-way flow of capital and organize the event. She said that despite challenges such as de-globalization, the economic ties between China and the rest of the world will continue to deepen, and cross-border investment will continue to play an important role in sustainable development.

With the themes of “Real Asset Investment Strategy and Value Creation under the New Macro Environment”, “Promotion of Medical Innovation and Development through Cross-Border Investment”, “Build a Better Life Through Innovation”, and “Technological Innovation Stimulates New Green Vitality”, the four parallel sessions provided a platform for discussions and networking with a focus on real assets, healthcare, consumer and industrial, and agriculture and food. The forum also organized more than 200 one-on-one networking sessions and a visit to the HKEX for participants.

The forum was moderated by senior executives of CIC including Mr. Guo Xiangjun, Mr. Qi Bin, and Ms. Zhao Haiying, the Executive Vice Presidents of CIC; and Mr. Bao Jianmin, Member of Executive Committee of CIC. Department and team heads of CIC joined the discussions. In total, the forum had more than 600 participants, including representatives from the Hong Kong SAR Government, as well as those from prominent financial institutions and leading enterprises around the globe.