IBM is part of an online community that in 2017 is introducing a “network of networks” based on Blockchain or Distributed Ledger Technology that creates distributed, consensus-driven databases for direct transactions. John Wolpert, IBM’s Global Blockchain Offering Director says the so-called Hyperledger Fabric architecture is in the “next wave” and sharing information with top-level financial experts at AFF 2017 has been very useful to him.

The US faces at least three interest rate hikes in 2017 if the new US President delivers on promises, said AFF keynote speaker Mohamed El-Erian. Second keynote speaker Raghuram Rajan expected stronger US growth short term based on market optimism. He believed China’s Belt and Road Initiative could link Asia together, with Hong Kong in a connector role. Dr El-Erian said the AFF 2017 itself “exceeded expectations”.

Hong Kong is Asia’s centre for financial innovation with considerable talent from a technical development perspective, said Melissa Guzy, Co-Founder of Hong Kong-based venture capital firm, Arbor Ventures. Speaking on the sidelines of AFF 2017 she said the event showed an exciting development: how entrepreneurship was converging with financial institutions.

Hong Kong is a highly important point of contact for investors in Asia and Russia in both directions said the First Deputy Governor of the Bank of Russia. It comes at a time when Russia’s economy is emerging from recession with stronger global oil prices said Ksenia Yudaeva, speaking on the sidelines of AFF 2017, while China’s Belt and Road Initiative will benefit all countries, including Russia.

Asian financial markets offer the biggest opportunities globally for technology innovation according to Lars Ottersgård, Head of Nasdaq Market Technology, in areas such as trading, clearing, index calculation, risk management and surveillance. On the sidelines of AFF 2017 he said the Stock Exchange of Hong Kong (HKEX) is a major client and the SAR is a gateway to Asia for technology providers. The AFF provides “big value” to meet high-level participants.

Since the global financial crisis started in 2008, economic recovery has been uneven – with 2017 opening to myriad uncertainties which may have a lasting impact on prospects for recovery. Markets are bracing for an end to low interest rates and political change. To explore how the global economy and capital markets may be impacted, the HKTDC spoke with Ding Xuedong, Chairman & CEO of China Investment Corporation, on the sidelines of the 2017 Asian Financial Forum.

About 85 per cent of China’s domestic requirement for some US$300 billion a year of investments in transitioning to a sustainable environment will come from private sources, said Tim Freshwater, Chairman of Goldman Sachs Asia Bank Limited – and Hong Kong’s international financial status is expected to be vital. Speaking after an AFF 2017 breakfast panel, he said green finance also tied closely into China’s Belt and Road Initiative.

With concern about anti-globalisation policies in developed countries medium term, China’s Belt and Road Initiative is an important factor linking Asia together in a multilateral approach, said Dr Raghuram Rajan at AFF 2017. The former Reserve Bank of India Governor also said Hong Kong could act as a super-connector to the Initiative, given important Belt and Road requirements for design, finance and construction management.

Commenting beside the Asian Financial Forum 2017 in Hong Kong, keynote speaker Dr Mohamed El-Erian described China’s Belt and Road Initiative as a supplement to the multilateral trading system, with Hong Kong contributing significantly to the Belt and Road’s development. The Chief Economic Advisor with Allianz, and Chair of the US Global Development Council, also said he expected the US dollar to strengthen with about three interest rate hikes in 2017 and the prospect of US economic growth.

The strong US dollar and low oil prices are unlikely to result in higher inflation and quicker interest rate rises in the US in the near future, where the economy is undergoing a solid and moderate recovery, says Ben Bernanke, former Chairman of the United States Federal Reserve System. Speaking beside the Asian Financial Forum 2016 he also said he believes Hong Kong will play an important role in China’s Belt and Road Initiative.