[Webinar] The Next Game Changer: China’s pursuit of a Central Bank Digital Currency (CBDC) Go back »
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Time2021-04-13 | 16:00 - 17:30
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Venue:Online
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Address:
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Fee:Members: 100 RMB |
Non Members: 150 RMB
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The People’s Bank of China (PBOC), the central bank, has been working on the digital yuan since 2014 and is currently leading the field on establishing a Central Bank Digital Currency (CBDC), which could lead China to become one of the first major economies to introduce a sovereign digital currency. In April 2020, PBOC launched a pilot program in four Chinese cities: Shenzhen, Suzhou, Chengdu, and Beijing’s satellite city Xiong’an.
The CBDC could have a major impact and, to a certain extent, challenge the dominant role of third-party payment systems such as Alipay and WeChat Pay. CBDC will be a replacement for cash and will be controlled by PBOC. Furthermore, if successfully deployed, CBDC may bring China one step closer to its goal for Yuan internationalisation.
A conversation on the progress made in China around CBDC as well as the possible outcome and impacts is truly necessary given the nature of CBDC as a potential game changer in the financial services sector.
The European Chamber is pleased to welcome Mr Yi Xiong, Director, Head of Cash Management Products, Greater China | Corporate Bank Deutsche Bank; Dr. Yong Xia, Acting Chief Architect for Asia Pacific and China Chief Architect at HSBC; and Dr. David Wen, Professor at Zhejiang University International Business School (ZIBS) who will bring valuable insights and perspectives on the matter at hand. Join us Tuesday, 13th April 4pm-5:30pm (GMT+8) online via Zoom.
Agenda
4:00pm-4:10pm Opening Words by Mr.Thilo Zimmermann, National Chair of the European Chamber's Banking & Securities Working Group
4:10pm-4:30pm Presentation by Dr. Yong Xia, Acting Chief Architect for Asia Pacific and China Chief Architect at HSBC
4:30pm-5:00pm Interactive Dialogue
- Mr. Yi Xiong, Director, Head of Cash Management Products, Greater China, Corporate Bank Deutsche Bank
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Dr. Yong Xia, Acting Chief Architect for Asia Pacific and China Chief Architect at HSBC
- Dr. David Wen, professor at Zhejiang University International Business School (ZIBS)
5:00pm-5:20pm Q&A Session
5:20m-5:30pm Closing words by Mr. Thilo Zimmermann, National Chair of the European Chamber's Banking & Securities Working Group
Views expressed by invited speakers do not necessarily reflect the opinions or position of the European Union Chamber of Commerce in China.
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For further information contact Ms Laura Alvarez Mendivil at lamendivil@europeanchamber.com.cn
Speakers
Mr. Thilo Zimmermann
Mr. Thilo Zimmermann
Thilo Zimmermann is the General Manager of SEB Shanghai Branch since January 2019. SEB is a leading Nordic financial services group with a strong belief that entrepreneurial minds and innovative companies are key in creating a better world. Zimmermann joined SEB eighteen years ago and has wide experience in heading different teams within the bank.
Prior to that, Zimmermann worked at ING and Deutsche Bank back in Germany. Thilo speaks German, English, French and some Mandarin.
Mr. Yi Xiong
Mr. Yi Xiong
Yi Xiong is leading the cash management product team within Deutsche Bank in China. Yi joined Deutsche Bank in September 2018. He possess more than 20 years of working experience on cash and liquidity product management as well as advisory related positions in various foreign financial institutions including HSBC, RBS & JP Morgan. He has in-depth understanding of China regulatory landscape / industrial best practice related to cash and liquidity management area. He is experienced to advise complex in-country, regional cash/liquidity structures for multi-national corporate and large local corporate.
Dr. Yong Xia
Dr. Yong Xia
Dr. Yong Xia is
• Acting Chief Architect for Asia Pacific and China Chief Architect at HSBC
• Board Director of Corda Network Foundation (CNF - https://corda.network/);
• One of worldwide five Council Members of International Requirements Engineering Board (www.ireb.org);
• Visiting Professor in South China University of Technology;
Before joining HSBC, he was a Member of IBM Academy of Technology, IBM GBS Consultant CoE Leader and IBM GBS Blockchain CoE Leader. He was also a visiting professor in Fudan University (until December 2019) and an Enterprise PhD Supervisor in Shanghai Jiao Tong University (until December 2020). He got his Ph.D. in computer science from University of Zurich, Switzerland.
Mr. David Wen
Mr. David Wen
Dr David Wen is a professor at the International Business School of Zhejiang University. After obtaining his Ph.D from Oxford University, he has worked at NTT Communication Science Laboratory in Japan, before appointed the youngest Associate Professor in Tokyo Science University. When visiting Stanford University as a visiting professor, he decided to apply his research to build solution for challenging and impactful ventures in the real world. He started as a security architect at ActivCard (now HID Global) and was responsible for the design of the Identity Management Solution for the Department of Defense’s Common Access Card (CAC) program. He went on to become the product manager, program manager and Chief Scientist at Fortune 500 companies such as Dell and SAIC, managing the deployment of US Federal Government’s Personal Identification and Verification (PIV) program at NASA, DHS, FDA. He is one of the main contributors who enabled the most advanced Digital Identity Management solution for the entire US government by the 2008 deadline set by President George Bush in HSPD-12. In September 2011, he co-founded eCurrency Mint Ltd, applying his extensive experience building nationwide security program to the solution of a Central Bank Issued Digital Currency. He helped coin the term Digital Fiat Currency working as the US expert to ISO Technical Committee 68 (SC 2) for digital currency security, and elected chairman of the International Telecommunication Union’s Focus Group on Digital Fiat Currency, working with central banks and telecom regulators from People’s Bank of China as well as over 40 Central Banks around the world. He co-authored the first “Digital Legal Currency” book published by People’s Finance Publisher and is used as textbook for graduate studies. He has also numerous patents in US.
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