finance. the idea is to leverage public money to rebalance risks and instil confidence so as to draw in private capital. this should enlarge the pool of available 1 / 2 bis - central bankers'speeches capital while allowing projects to tap the innovation, risk management expertise, entrepreneurship, and market development capabilities of the private sector. as asia's leading international financial centre and green finance hub, hong kong is very well positioned to channel the needed investment to sustainable projects in asia and the belt and road countries. we have one of the world's most active equity markets and asia's largest international bond market. in particular, hong kong captured more than one - third of the asian green and sustainable bond issuance last year. nearly 200 esg funds are authorised with the sfc, an increase of 55 % just within a year. meanwhile, we are taking steps to support the further growth of our sustainable finance ecosystem through a mix of regulation and financial incentives and leading by example in terms of the exchange fund's investments. policy initiatives aside, we recognise that communication and in - person contact are equally important. we set up the infrastructure financing facilitation office ( iffo ) back in 2016, with close to 100 partners now, to provide a platform for practitioners and investors to share experience and best practices. recently, we hosted two roundtables with leaders from various financial institutions to discuss ways to bolster climate financing. more events will be planned for the rest of this year. in addition to those events, we have organised delegations to visit the belt and road countries, including saudi arabia and the united arab emirates, to promote dialogue and cooperation, especially in the area of green and sustainability development. notwithstanding the effort that we have put in, a lot more still needs to be done to support the climate transition. i look forward to hearing the insights and ideas from our speakers and panellists at our upcoming discussion. thank you. 2 / 2 bis - central bankers'speeches

peter pang : asia treasury trailblazer summit 2015 speech by mr peter pang, deputy chief executive of the hong kong monetary authority, at the asia treasury trailblazer summit 2015, hong kong, 30 april 2015. * * * distinguished guests, ladies and gentlemen, 1. i am delighted to join you this morning to take part in the asset ’ s inaugural asia treasury trailblazer summit. i like the buzz word “ trailblazer ” in the banner and the chosen theme of this event : “ taking treasury to the next level ’. 2. “ trailblazer ” quite rightly describes the role and requisite mentality of corporate treasurers now operating in asia. the region is in unchartered waters awash with groundbreaking opportunities and, at the same time, unprecedented challenges. if we can rise up to the challenges and capitalise on the opportunities, multinational companies ( mncs ), leveraging on strategic application of their treasury capabilities, can certainly raise their business to the next level. 3. let ’ s take a closer look at these opportunities and challenges and give some thoughts on how the public and private sectors can work together to engineer a win - win solution. 4. after three decades of high speed growth, propelled by china ’ s rise to become the second largest economy and the largest trading nation, all global mncs are expanding their presence in asia, and the share of global revenues generated in asia continue to rise at a staggering speed. according to the asia business outlook survey by the economist, “ in 2011, western firms said that asia contributed 19 % of their global revenues. in 2012, that figure rose to 22 %. by 2017, western firms expect asia to contribute 32 %. however, this will still be below asia ’ s estimated 35 % share of the global economy in 2017. ” 5. the use of rmb is now catching up with china ’ s rising economic clout. starting from scratch in 2009, the portion of china ’ s trade settled in the rmb quickly surged to 20 % in 2014, amounting to 6. 6 trillian yuan, equivalent to more than us $ 1 trillion. and, in the same year, over 30 % and 16 % of china ’ s inward and outward direct investment respectively were denominated in the rmb. increasingly, mncs will find it advantageous and necessary to trade with their asian counterparts, and to conduct the related financing, investment and hedging activities in the rmb.