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Hong Kong General Chamber of Commerce Americas Committee November 2014 Hong Kong in the equation of Chinese-Latin American Trade and Investment
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Hong Kong General Chamber of Commerce
Americas CommitteeNovember 2014
Hong Kong in the equation of Chinese-Latin American Trade and
Investment
We are definitely not “newcomers” when it comes to Asia
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Chile established its first foothold in China, in 1845
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Mexico and China Diplomatic Relations, 1904
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People moved; Trust was built; Business thrived
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The China-Latin America commercial relationship has evolved
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It continues to incorporate new products and services
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Aircraft, Cosmetics, Television Programs, Online Games
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We have energized engagement and interaction
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Where are we headed to next with China?
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The Pacific to Antartica, the Gulf to Outer Space: Non Stop
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At Present and Tomorrow, China is in the Equation
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Getting it Right for Hong Kong
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A robust and internationally recognized financial system
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• Chile’s financial system has undergone significant development this century, with an increase in the number of participants, the variety of products, and market depth.
• Chile‘s financial system is well-developed by emerging market standards, and even by the those set by many OECD partner members. In the 2014 Basel Anti Money Laundering Index Chile outperforms many OECD members. Chile is ranked 14th out of 162 countries and territories, while the United Kingdom is 27, Singapore is 35 and the United States is 52.
• Financial services are regulated and supervised by the Superintendence of Banks and Financial Institutions (SBIF); the Chilean Central Bank and the Superintendence of Securities and Insurance (SVS). The Superintendence of Pensions (SP) supervises the pension system and unemployment insurance.
• The Central Bank enjoys a special independent status under the Bank‘s Constitutional Organic Law. Most capital controls were abolished many years ago, although Central Bank still oversees the foreign exchange regulations and has the power to impose capital controls.
Chile’s standing in international rankings means Low Risk
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• Chile was the first country in Latin America to become investment grade. Today, it is the best rated country in the region with an AA- (S&P), A+ (Fitch) and Aa3 (Moody’s) investment grade rating.
• Chile is placed 7th amongst 186 countries annually ranked for economic freedom in the latest report by The Heritage Foundation in partnership with the Wall Street Journal. The four pillars of economic freedom are rule of law, limited government, regulatory efficiency, and open markets. Canada is placed 6th while the United States is ranked 12th.
• According to the World Economic Forum, Chile is remains the most competitive economy in Latin America. The country owes this position to a strong institutional setup, with low levels of corruption and an efficient government; solid macroeconomic stability, with a balanced public budget; well-functioning markets with high levels of domestic competition and openness to foreign trade.
National and Internationally Known Banks are present in Chile
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0
5
10
15
20
25
30
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Total Bancos Nacionales Bancos Extranjeros*
* Foreign Banks include subsidiaries and branches Sources: SBIF y Studies Security, May 2014
Chile | Banking System
The Chilean banking system loan’s growth accounts for over two times Chile’s GDP growth
15.0%7.0%
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Banco Security | In Brief
• Founded in 1991 after a management buyout of Banco Security Pacific
• Private owned Chilean bank over 99% owned by public listed Chilean company Grupo Security (Stock code: SECUR:CL) since 1994
• Our chairman is Mr. Francisco Silva (also the chairman of Grupo Security). He is the president of the Chilean chapter of the China-Chile Business Council
• In 2006, Banco Security expanded to international business by acquiring Dresdner Bank’s branch in Chile
• “Best bank in Chile as Trade Services Provider” for four consecutive years
• “Best Customer Satisfaction” awarded by Praxis Xperience Index , Ipsos Punto de Vista and Procalidad
• “Best Companies to Work for in Chile”, one of the top 15 places for 14 consecutive years from the Great Place to Work Institute
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Banco Security | Business Strategy
“To meet the financial needs of large and medium sized companies and of high net worth individuals, providing a service of excellence which will allow to maintain and nurture a long term relationship with them”
The pillars of the Bank’s business strategy are:
•Excellence in Service
•Focus on objective, strategic segment
•Broad range of products and services
•Customer Loyalty
•Efficiency and Flexibility in the use of its resources
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Banco Security | Where There’s a Will, There’s a Way
• The 3rd in terms of trade finance volume in Chile, Banco Security has 28 domestic branches and 1,000 staff members. It received approval from the Hong Kong Monetary Authority (HKMA) in February 2014, in order to set up its first overseas office.
• A multicultural team based in Hong Kong is committed to your business needs, delivering fast and reliable tailored solutions in your time zone.
• No intermediaries, adaptable, 24/7.
• The Representative Office has the capacity to deliver detailed advice with respect to commercial, financial and foreign trade practices, plus market information, financing alternatives, legislation and local financial practices for potential investors.
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Banco Security | Hong Kong Representative Office
Mario Ignacio ArtazaChief RepresentativePhone : +852 2155 3858 Mobile : +852 9728 8897Email : [email protected]
Ewald DoernerRepresentative / DirectorPhone : +852 2155 2831 Mobile : +852 6013 7901Email : [email protected] WunRepresentative / DirectorPhone : +852 2155 2286 Mobile : +852 9387 1027Email : [email protected]
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Disclaimer StatementThe information in this document has been obtained by Banco Security from sources believed to be reliable, however, Banco Security cannot guarantee the accuracy, completeness, or correctness of such information. This document has been issued for information purposes only. The financial reports and statements announced by Banco Security to the public and the relevant corporations are accepted to be the sole material. Banco Security does not accept any liability whatsoever for any direct or consequential loss arising from any use of this document or its contents due to the misleading information in this document. All estimations contained in this document are the opinions of Banco Security and can be subject to change without notice. This document can not be interpreted as an advice to the investors and Banco Security cannot be held responsible for the results of investment decisions made on account of this document. This document has been issued specially to the person, whom the document is concerned and may not be reproduced, distributed or shared with third parties for any purpose.
