##c ) from 2002 to 2018, the longest - serving governor of 1 / 2 bis central bankers'speeches the pboc. dr zhou became one of the most respected central bankers on the international circuit. in february this year, dr zhou was awarded the lifetime central banking award by london - based publication central banking, a most fitting recognition of his contributions to the chinese economy and financial sector. from a bilateral perspective, during dr zhou ’ s tenure, the pboc and mas forged close ties and deepened financial and regulatory cooperation. we collaborated successfully in several areas over the years, particularly in promoting the greater use of rmb in the region. pboc ’ s decision in 2013, under dr zhou ’ s leadership, to appoint the industrial and commercial bank of china as singapore ’ s rmb clearing bank was a significant milestone and spurred the growth of singapore as a key rmb offshore centre. in 2016, mas announced that rmb assets would be included as part of our official foreign reserves, three years ahead of the inclusion of chinese bonds in key global bond indices. at the personal level, i have had the pleasure and privilege to interact with xiaochuan at many international and bilateral meetings. i have always found his views insightful. at our bi - monthly meetings of central bank governors in basel at the bank for international settlements, i would sometimes ask xiaochuan some rather inconvenient questions – about risks related to shadow banking or industrial overcapacity in china. xiaochuan would always answer these questions, as well as those from other governors, with a disarming candour and clarity, never avoiding the hard issues. this not only helped to build trust among his counterparts in the international community but also endeared xiaochuan to many of us as someone we could count on for insights into the complexities of the chinese economy and financial system. today, dr zhou will speak on “ the rise of technology in finance – opportunities and challenges for central banking ”. many of us are familiar with dr zhou ’ s views on financial and economic reforms. but not many of us know that that when it comes to technology, dr zhou was ahead of the curve amongst his peers. in 2014, before the words “ fintech ” and “ digital currencies ” became popular, dr zhou set up a digital currency research institute within the pboc to explore how new technologies like the blockchain and digital tokens could improve and strengthen china ’ s financial system

am pleased to see that the major banks in singapore have committed to provide at least 200 places for polytechnic graduates in the coming year, through the earn and learn programmes or their in - house structured programmes. ( they include all three local banks – dbs, ocbc, uob – as well as anz, barclays, bnp paribas, citibank, jp morgan, maybank and standard chartered bank. ) these will be in the banks ’ core functions of technology, consumer banking, operations and risk management. 42. wherever you start, we will help you progress. to give an example, oryan ang, graduated from nanyang polytechnic and joined dbs in 2004 as a home advice specialist. he was given opportunities to learn on the job, demonstrate his abilities and rise through the ranks, and is today a vice - president in consumer banking ( deposits and secured lending ) at the bank. developing strong core of singaporean leaders in finance 43. let me turn finally to the second thrust of our initiatives to develop professional talent and skills, which concerns leadership development. this too is a key priority under skillsfuture. the development of a strong core of singaporean leaders in finance, working in diverse global teams, will define our continued success as a financial centre. mas takes this very seriously. bis central bankers ’ speeches 44. we have in recent years introduced several initiatives to promote the development of singaporean leaders in the financial industry. • the finance associate management scheme ( fams ) offers promising young professionals exposure to different aspects of a financial institution ’ s global operations and mentorship by senior leaders. • the international posting programme ( ipost ) has supported more than 35 overseas postings of singaporeans in finance since its launch in 2013. they have acquired valuable practical experience in diverse working cultures over their 6 to 24 - month attachments to regional and global offices of financial institutions. asian financial leaders programme ( aflp ) 45. to further strengthen these efforts, i am pleased to announce the launch of the asian financial leaders programme ( aflp ). • the aflp will take advantage of singapore ’ s strong and expanding linkages in the region, including asean, china and india, and aim to strengthen those links through leadership development. • it is aimed at equipping finance professionals aspiring to c - suite roles with the knowledge and capabilities to operate effectively across diverse business, regulatory, and legal environments. • participants will be given the opportunity to learn from and interact with