During his 12-year tenure at Deutsche Bank, Hubertus Väth held the positions of Analyst, Head of Communications and Chief Economist for Asia and Global Head of Marketing for Wealth Management at offices in Frankfurt, Hamburg and Singapore. He is the Founder of the NewMark Group and CEO of NewMark Finanzkommunikation GmbH, established in 1997 and specialized in market research, business consulting and financial communication. In 2008, Väth was appointed Managing Director of Frankfurt Main Finance, the Financial Centre initiative for Frankfurt and the leading Financial Centre in Germany and the Euro Zone. Most recently, he was appointed to the Board of Directors of the World Alliance of International Financial Centers (WAIFC), which was created to facilitate cooperation and exchange of best practices among international financial centres and to foster greater exchange with international public authorities. Väth regularly speaks at international financial conferences on Brexit, FinTechs and Financial Centre Development; Euro Clearing and Green Finance. Väth is a Special Fellow of the Financial Think Tank of AFCA and publishes regularly in this capacity. He is a member of Rotary Club and has a Diploma in Economics from the University Mainz, Germany. Väth is an occasional lecturer at Universities and Business Schools.
- Hong Kong economy was under big challenge due to the outbreak of SARS in the second quarter of 2003. And that time, HK’s consumer price deflation intensified, the fiscal deficit increased and the Hong Kong dollar was under severe depreciation pressures. Compared with the SARS crisis in 2003, what’s the difference of this year’s Coronavirus storm to Hong Kong’s economy?
- Hong Kong has recovered strongly from a series of shocks in recent years. So far Hong Kong is one of the best jurisdictions in fighting against Coronavirus. However, the re-establishment of investors’ confidence may go much slower than the disappearance of virus. What measures will HK FSDC take to restore retail and institutional investors’ confidence to Hong Kong?
- Hong Kong is a world leading financial center. What kind of role do you think a financial center can play in dealing with such crisis?
- Hard times always present lucrative opportunities. Due to the Coronavirus, the stock market of almost every country are trading at historical low level based on listed companies’ book value. At such a special moment, how to stabilize and well regulate the market?
- The crisis has put many industries into deep trouble. To fight against the economic fallout of coronavirus, a HK$30bn ($3.9bn) fund has been launched to distribute financial subsidies to eateries, travel agencies, retailers, etc. However, there are also some industries obtain opportunities in this crisis, for example, e-commerce, online-education, medical &Health. What kind of new business potential can you see from this crisis?