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| Group photo of the main guests of the forum (from the fourth left: Meng Yu, Chairman of the Hong Kong Chinese Finance Association; Xu Zhengyu, Secretary for Financial Services and the Treasury of Hong Kong; Mao Zhenhua, founder of China Credit Trust Group and chief economist of China Credit International; Cai Hongbin, Dean of the Faculty of Business and Economics of the University of Hong Kong; Chen Zhiwu, Director of the Hong Kong Institute of Humanities and Social Sciences of the University of Hong Kong; Ba Shusong, Chief Economist of the China Banking Association and Adjunct Professor of the Faculty of Business and Economics of the University of Hong Kong) |
On the afternoon of July 18, 2024, the "Hong Kong Green and Sustainable Finance Development Forum and the Press Conference on the Recognition of QDI and GSF Qualifications of CCXAP by the Hong Kong Monetary Authority" jointly sponsored by China Chengxin (Asia Pacific) Credit Rating Co., Ltd. (hereinafter referred to as "CCXAP"), CCXGF International Co., Ltd. (hereinafter referred to as "CCXGF International"), and the Hong Kong Chinese Finance Association was successfully held. Mao Zhenhua, founder of China Chengxin Group and chief economist of China Chengxin International, delivered a speech. In his speech, Mao Zhenhua mentioned that green finance, as an important engine to promote economic transformation, has developed rapidly in Hong Kong. He shared the development achievements and future goals of China Chengxin (Asia Pacific) and CCXGF in Hong Kong, pointed out that China Chengxin Group will continue to work closely with all parties to empower the development of the Hong Kong bond market, and expressed confidence in jointly promoting the continued prosperity of the Hong Kong bond market and green finance.
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| Mao Zhenhua, Founder and Chairman of China Chengxin Group, Professor of Economics, Faculty of Business and Economics, University of Hong Kong |
The following is the transcript of the speech:
Dear guests, good afternoon! On behalf of the organizer, I am honored to express my warm welcome and sincere gratitude to all of you for your presence and support.
As an international financial center, Hong Kong's bond market has always played a pivotal role. As of early July, 176 bonds with a value of nearly US$50 billion have been listed on the Hong Kong Stock Exchange this year, of which more than 70% are from issuers in the mainland. In recent years, with the increasing attention paid to sustainable development around the world, green finance, as an important engine to promote economic transformation, has also developed rapidly in Hong Kong. As local rating service agencies, CCXAP and CCXGF are important participants in the market and are fully aware of their responsibilities and missions in this process.
I am proud to share that as the largest Chinese-owned rating agency in Hong Kong, we have made significant progress in supporting the development of Hong Kong’s bond market and green finance. CCXAP (Asia Pacific) obtained the license in 2012 and has been deeply involved in the market for more than ten years. Its business has made great progress in recent years. According to the latest statistics, CCXAP has ranked third in the number of rated customers served in Hong Kong and among local institutions in China. ranked first in. What encourages us is that last month, our company received QDI and GSF qualification recognition from the Hong Kong Monetary Authority, becoming the first Chinese-funded credit rating agency to be recognized. Through rigorous rating standards and in-depth industry insights, we will continue to be committed to providing high-quality credit rating services, building a communication bridge between investors and issuers, and ensuring market transparency and stability.
As the bond market and Chinese credit rating agencies develop, the green finance industry is also booming in Hong Kong. Green finance is not only a way of investment, but also one of the important ways for us to cope with global environmental challenges. In order to better provide customers with more professional services, CCXGF Service Company opened in 2023. CCXGF has been actively involved in promoting the transformation of the economy to a more environmentally friendly and sustainable direction by promoting the issuance of green bonds and sustainable development bonds.
In the future, CCX Asia Pacific and CCX Green Finance will continue to work closely with all parties in the Hong Kong financial market to support more innovative financial products and services and empower the development of the Hong Kong bond market. We firmly believe that through cooperation and innovation, Hong Kong will continue to play a leading role in the international green finance arena and become the preferred destination for global investors and issuers.
Finally, I sincerely hope that today’s discussion can bring us more inspiration and resonance, and jointly promote the continued prosperity of Hong Kong’s bond market and green finance. Thank you all for coming, thank you!
The Hong Kong Green and Sustainable Finance Development Forum focused on the current development trend of global ESG information disclosure, sustainable development strategies of listed companies, the development prospects of Hong Kong's green and sustainable finance, and the internationalization prospects of Chinese rating agencies, and conducted in-depth discussions. Hong Kong Financial Services and Treasury Bureau Director Xu Zhengyu, Hong Kong Chinese Finance Association Chairman Meng Yu, Hong Kong University of Business and Economics Dean Cai Hongbin, Hong Kong University of Hong Kong Institute of Humanities and Social Sciences Director Chen Zhiwu and other important political and academic representatives in Hong Kong attended the forum and spoke. At the forum, Mao Zhenhua, founder of China Chengxin Group and chief economist of China Chengxin International, presented the CCXGF ESG rating results to two industry leading companies, China Power International Development Co., Ltd. and China Construction International Group Co., Ltd.
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| He Xi, Chairman of the Board of Directors of China Power International Development Co., Ltd. and Chairman of China Power International Development Co., Ltd., accepted the "AA" ESG rating from CCXGF on behalf of the company. |
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| Zhou Zhike, Investor Relations Director of China State Construction International Group Co., Ltd., accepted the "AA" ESG rating from CCXGF on behalf of the company. |
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| Paul Hui, Secretary for Financial Services and the Treasury, Hong Kong |
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| Meng Yu, Chairman of the Hong Kong Chinese Finance Association |
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| Hongbin Cai, Dean of the School of Business and Economics, University of Hong Kong |
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| Chen Zhiwu, Director of the Hong Kong Institute of Humanities and Social Sciences, University of Hong Kong |
China Chengxin Group was founded in October 1992. Its predecessor was China Chengxin Securities Rating Co., Ltd., which was established with the approval of the People's Bank of China. It is China's first national non-bank financial institution engaged in credit rating, financial securities consulting and information services. The group has credit industry sectors such as credit rating, credit investigation and credit management consulting. It is one of the largest comprehensive credit industry groups in China with the most complete industrial chain, the richest credit products and the largest scale. There are more than 1,300 employees, more than half of whom have a master's degree or above. While insisting on expanding and strengthening the credit industry, the group actively responds to the national strategies of "Healthy China" and "Dual Carbon Action", actively explores and promotes third-party credit and information service businesses in the fields of big health and dual carbon technology , and enters the fast lane of innovative business layout. In addition, the group has increased its investment in specialized investment areas and participated in a number of equity investment projects at home and abroad. The investment areas cover finance, real estate, skiing and other industry projects, and have achieved fruitful results.
