Belt and Road Summit 2018 celebrated success of the development while reflecting on more future collaborative opportunities

I was excited to join the Belt and Road Summit 2018, where officials from the mainland and Hong Kong as well as industry leaders gathered on this occasion to share updates and inspirations on the Belt and Road development. It was held in the Hong Kong Convention and Exhibition Centre, and attracted around 5000 people from 55 countries to come together to explore the summit’s theme, Collaborate for Success.

The Chief Executive of the HKSAR, Carrie Lam, gave an opening speech for the occasion, while the Chairman of the HKTDC, Vincent HS Lo, delivered the welcoming remarks. In the uplifting speeches, we could clearly feel the success of and prosperity brought by the initiative. During the summit, a free trade agreement was signed between Hong Kong and Georgia. As a door to the Caucasus and Central Asia, Georgia will play a critical role in linking Europe and Asia and the free trade agreement marked a promising beginning.

At the Plenary Session titled “Action through Collaboration: Case Studies on Signature Belt and Road Projects” chaired by President of Asia Financial Holdings Limited, Bernard Chan, Belt and Road initiative investment opportunities were discussed and insights shared by President of China Communications Construction Group Liu Qitao, Vice Chairman of All-China Federation of Industry and Commerce and Chairman of Zhejiang Geely Holding Group Li Shufu, Chairman of MTR Corporation Limited Professor Frederick Ma, Chairman of Metro Pacific Investments Corporation Manuel V Pangilinan, and Vice Chairwoman of Indonesian Chamber of Commerce and Industry (KADIN Indonesia) and Chief Executive Officer of Sintesa Group, Shinta Widjaja Kamdani. This marked the highlight of the summit. Afterwards many discussion sessions unfolded where financing for infrastructure, information technology, engineering, green finance, risk management, legal services, etc were explored.

It was an eye-opening experience to hear reviews from industry leaders on the development of the national strategy. It also offered a good chance of reflecting on what role your industry plays and what position can be taken in this initiative.


一帶一路高峰論壇慶祝發展成果,審視未來合作機會

我十分高興能參與今年的一帶一路高峰論壇,會上內地和香港官員,及各行各業的領袖聚首一堂,分享一帶一路的成果和最新發展,並審視未來的合作機會。是次論壇在香港會議展覽中心舉辦,吸引來自五十五個國家約五千人參與,深入探討今年的主題「全方位合作」,場面盛大。

會議在行政長官林鄭月娥的開幕辭和貿發局主席羅康瑞的歡迎辭下順利開始,會上我們亦見證了香港和格魯吉亞簽署自由貿易協定,格魯吉亞是通往高加索和中亞地區的重要樞紐,在接通歐洲和亞洲上扮演關鍵角色,而這次的自由貿易協定可望為雙方帶來更多合作機會。

接着的討論環節以「共商合作 共拓商機:探討一帶一路重點項目」為主題,由亞洲金融集團總裁陳智思主持,討論嘉賓有中國交通建設集團董事長劉起濤、全國工商聯副主席兼浙江吉利控股集團董事長李書福、香港鐵路有限公司主席馬時亨、菲律賓基建企業 Metro Pacific Investments Corporation 主席彭澤仁 (Manuel V Pangilinan),以及印尼工商會副主席兼 Sintesa 集團行政總裁 Shinta Widjaja Kamdani,深入探討了一帶一路的投資機會,分享了相關經驗。討論環節後多場論壇陸續展開,由各領域專業人士相互討論,多項專題包括基建融資、資訊科技、工程、綠色金融、風險管理以及法律服務等方面,從不同面向探討相關議題。

此次論壇可以聽到來自行業領袖關於國家級戰略的回顧和分析,真是讓人眼界大開,亦是個重新審視自己行業從中扮演甚麼角色及如何把握機遇的好機會。

Valuable takeaways from Professor Daniel Kahneman, one of the most influential figures in behavioral finance

We usually get to see renowned figures on the TV rather than in real life. Like Nobel Laureates it’s more likely for us to hear of their names than get to know them. We might assume such knowledgeable and impactful figures as Nobel Laureates to be difficult to comprehend as their knowledge may be beyond our understanding.

But seeing Professor Daniel Kahneman’s session at the 71st CFA Institute Annual Conference overthrew the misconception; the Nobel Laureate in Economic Sciences spoke in clear and easy to understand terms of thought-provoking messages. Here are my valuable takeaways from him.

On planning fallacies and ways to avoid:

  • Whenever there is judgement, there is noise.

  • Algorithms are noise-free and better than human judgement.

  • People underestimate uncertainties the market holds.

  • Optimism is everywhere when people plan.

  • Optimism is a risk.

  • The remedy is a broad view.

  • Take an outside view.

On how to be happy:

  • When there is a problem in life, ask advice before making a decision.

  • People to turn to for advice: people who like you and do not care about your feelings.

It’s wisdom to remember. What do you think?


諾貝爾經濟學獎得主丹尼爾·康納曼教授的規劃智慧

對於一些出名或權威級的人物,例如諾貝爾獎得主,我們甚少有機會與之見面及交談,所以很容易會設想這些學識淵博影響甚廣的人物的知識非我們能輕易明白。然而,有幸聽到諾貝爾經濟學獎得主丹尼爾·康納曼教授的現場分享,打破了我的謬想。

我是在第71屆CFA Institute(特許金融分析師協會)峰會上聽到丹尼爾·康納曼教授的分享的。教授是行為經濟學的權威、諾貝爾經濟學獎得主,與我們分享他的深度智慧時,由淺入深,清晰易明,實在讓我敬佩不已。

說到如何滅少規劃謬誤和作出更好的決定時,教授提出了我們常怱略的一個行為因素—隨機變動性,做決定時,我們的判斷帶有隨機變動性,即是在兩個相同的情況下,我們的判斷可以很不一樣,這種變動性會影響我們作出有誤差的決定。所以如果可行,我們應以機械演算法來替我們作判斷,因為演算法做決定時不會隨機變動,可確保無誤差預測及抉擇。

教授亦提到人們常低估市場的不確定性,還可能過分樂觀,而構成風險。我們應以一個局外的角度、全面的視野來看事情。

當被問到快樂的方法時,教授說遇到困難時,應先問人意見才作決定,應問誰意見呢?那些喜歡你但不把你的感受放在第一位的人。

教授的一席話真讓人獲益良多,你認為呢?