IACCT (China) 2021 Treasury Seminar with SFC and EY – Event Report

Dear Members and Guests of IACCT (China)

1. Overview

International Association of CFOs and Corporate Treasurers (China) (“IACCT (China)”) has the honor to invite Ms. CHOI Fung Yee Christina, Executive Director of Investment Products Division, Securities and Futures Commission (“SFC”) as the Special Honorable Guest for our 2021 Treasury Seminar with SFC and EY on 21 July 2021 (“Treasury Seminar”).  It is also our pleasure to have the full support of our Knowledge Partner, EY for the Treasury Seminar. The theme of the 2021 Treasury Seminar is “Revitalising Hong Kong REITs Market – Recent initiatives and developments”.

2. Agenda

Please click [Google Agenda] to look at the detailed rundown and the list of speakers and panelists (including their biographies) of the event.

Due to the COVID-19 restrictions, the Treasury Seminar can only invite around 40 guests, including the speakers and panelists, important industry players (Link REIT, Regal Reit, SF-Reit and YUEXIU REIT) plus CFOs, corporate treasurers and senior finance executives, to participate in the Treasury Seminar at the newly renovated office of EY. Together with other industry peers who joined the Treasury Seminar online, all our guests have actively participated in hot interactive discussions for 2.5 hours with our expert speakers.

3. Opening and Welcoming Speech by Ms. Gogo Yung Lai KO

The event commenced with the Opening and Welcoming Speech by Ms. Gogo Yung Lai KO, President of IACCT (China). The following points are covered in the speech of Ms. KO:

3.1 IACCT (China) would like to express our thanks for the support of our members and guests who are CFOs, Corporate Treasurers and senior Finance Executives from many well-known corporates and industry players in the Hong Kong REITs market (see the list in paragraph 7 below)

3.2 The mission of IACCT (China) is to maintain the position of Hong Kong as an international financial centre. IACCT (China) is pleased to foresee increasing financial activities by overseas’ investors, especially the major Chinese companies following the announcement of the National Security Law which has restored Hong Kong back to normal

3.3 According to the 2021-2022 Hong Kong SAR Government Budget, the Hong Kong SAR Government were committed to position Hong Kong as a hub for REITS

3.4 SFC launched a government grant scheme in May 2021. Subsidies will be provided for qualifying REITS authorized by SFC and listed in Hong Kong in the coming 3 years. The subsidy will cover 70% of the eligible expenses paid to local professional service providers for the listing of REITS subject to a cap of HK$8 million per REIT. Please see if your corporates can take advantage of this great grant scheme!!

3.5 The higher return and potential capital gain from listed REITs in Hong Kong would be the advantages of REIT investment when there is rising inflation in the market

3.6 More relaxations in the types of real estate investments, more supportive initiatives and listing requirements of the regulatory authorities are envisaged to foster the development of the REITs market in Hong Kong

4. Welcoming Remarks by Ms. Agnes CHAN of EY

Ms. Agnes CHAN, Hong Kong and Macau Managing Partner, EY then delivered the Welcoming Remarks to welcome the guests who joined the Treasury Seminar at EY’s newly renovated office and through the online platform.

As mentioned by Christina and Gogo, EY has been supporting the development of REITs market and asset management in Hong Kong. Back in 2019, the same partners, IACCT (China), Ms. CHOI Fung Yee Christina of SFC and EY, held the popular treasury seminar at J.W. Marriott Hotel, Admiralty on the theme “Latest Development of Asset Management Industry in Hong Kong”. Around 60 members and guests of IACCT (China) enjoyed the very successful luncheon seminar.

5. Keynote Speech by Ms. CHOI Fung Yee Christina of SFC

Special Honorable Guest Ms. CHOI Fung Yee Christina of SFC then delivered a Keynote Speech on the recent initiatives and developments of SFC to revitalize Hong Kong REITs market. The major topics covered by the Keynote Speech are:

5.1 Hong Kong REITs market overview

5.2 Advantages of listing in Hong Kong

5.3 Solid regulatory regime of Hong Kong REITs

5.4 Transparent listing process and requirements

5.5 Enhancements to the REIT Code

5.6 Latest developments in the REITs market

5.7 Other major initiatives – Hong Kong domicile platform

5.8 REIT and OFC grant scheme

IACCT (China) would like to share the Keynote Speech presentation (in English and Chinese) with the guests of the event and the members of IACCT (China). Please click the following Google links to see and download the presentation file in the language you prefer:

A. IACCT Treasury Seminar 2021_Eng (21 Jul 2021) SFC Presentation

B. IACCT Treasury Seminar 2021_Chi (21 Jul 2021) SFC Presentation

6. The Panel Discussion

Finally, we would like to express our thanks to the following expert speakers and panelists who shared with our audiences their expert insights on the more in-depth details on the theme of the Treasury Seminar:

Moderator:
Mr. Harvey Coe, TCF-lead Advisory Partner, EY

Panelists:
A. Ms. CHOI Fung Yee, Christina
Executive Director, Investment Products Division Securities and Futures Commission

B. Mr. Eric YAU
Chief Strategy Officer, Link REIT

C. Mr. Edmund HO
Managing Director and Head of Greater China Commercial Real Estate, Standard Chartered Bank

D. Mr. Banny LAM
Managing Director and Head of Research, China Everbright Bank International

Special Guest:
Mr. LIN Deliang
Chairman, CEO, Executive Director, YUEXIU REIT

The panel of speakers had been in hot discussions amongst themselves and with the audience on the following topics:

6.1 General review of the market trends following the various measures of SFC to revitalize the REITs market in Hong Kong

6.2 Do we see challenges or opportunities for Hong Kong REITs market after the recent successful listings of C REITs in China?

6.3 Are REITs popular as an investment to investors in Hong Kong? Would there be any further measures to make REITs an investment available to investors in China through the Connect Scheme?

6.4 Further initiatives or measures to encourage more listings of REITS and/or C REITs in Hong Kong

6.5 A pioneer in the Hong Kong REITs market, Mr. LIN Deliang of YUEXIU REIT shared his comments to compare the major features of the REITs listed in Hong Kong and China. He has also made his professional recommendations for the further development of the REITs in Hong Kong.

The panel of speakers were interactive in hot discussions with the audience joining the Treasury Seminar at the venue and online.

IACCT (China) is pleased to see the active participation of the industry players e.g. SF-Reit and Kailong Real Estate to raise questions to the panel on the hot issues of the REITs market in Hong Kong. The panelists welcome the proposals from the industry players which are of good reference for the future development of the REITs market in Hong Kong.

7. Who Attended?

IACCT (China) would appreciate the support of the attendees who are our members and guests from the following key companies:

• Beijing Enterprises Holdings Limited
• Beijing Properties (Holdings) Limited
• CCB Frontier Capital (Hong Kong) Limited
• CHFTAA
• China Everbright Bank International
• China Everbright Holdings Company Limited
• China Everbright Limited
• China Forestry Treasury Center Company Limited
• China Huadian Overseas Asset Management Company Limited
• China Overseas Holdings Limited
• China Wood International Holding Company Limited
• Chong Hing Bank
• CITIC Pacific Limited
• CITIC Resources
• EY
• Golden Wheel Tiandi Holdings Co Ltd
• Henderson (China) Investment Co. LTD
• HK Electric Investments Ltd.
• Kailong Real Estate
• Lee’s Pharmaceutical Holdings Limited
• Oakwise Capital Management Limited
• Paliburg Investment Limited
• SFC
• Shanghai Industrial Investment (Holdings) Co., LTD
• Shenzhen Investment Ltd.
• Standard Chartered Bank
• Target Insurance Co Ltd
• Yue Xiu Enterprises Holdings Limited
• ZA Life Limited
• Link REIT
• Regal Reit
• SF-Reit
• YUEXIU REIT

8. Photo Album

IACCT (China) has prepared the photo album of the Treasury Seminar for our guests to see again some unforgettable moments on 21 July 2021. Please visit the photo album by clicking the following link:

[Google link]:
https://drive.google.com/drive/folders/1NHSDoGurqToOixjfU0u60ffWZPJyS1rZ?usp=sharing

IACCT (China) is looking forward to meeting our members and guests soon in our future events.

Yours sincerely,

Gogo Yung Lai KO
President
IACCT (China)

International Association of CFOs and Corporate Treasurers (China)

Office: (852) 2593 2389
Mobile: (852) 9192 3166
WeChat: +852 9192 3166

For more information and activities of IACCT (China), we recommend that you visit our website http://iacct.net/ and WeChat Public Account 微信公众号IACCT-China of IACCT (China) which can also be accessed by scanning one of the following QR codes:

IACCT Website 网站 http://iacct.net/	IACCT WeChat Public Account 微信公众号IACCT-China	IACCT Introduction Video 介绍视频https://youtu.be/Zj6Gh_vJW5E

Please follow and like our WeChat Public Account IACCT-China

Official IACCT (China) Email Account: membership@iacct.net