At the summit, Thomas Sargent gave a keynote speech titled “How Do Artificial Intelligence and Blockchain Create New Opportunities and Challenges”, and stated repeatedly that artificial intelligence (AI) and blockchain would be promising in the future. According to him, blockchain is a reliable technique for the financial system, since it is a very stable system that is not randomly formed, but based on all the previous e-signatures created. It provides good technical support for the overall financial system, and is an exciting technology for investors. “China currently is a gathering place for talented people, especially young people proficient in statistics and computers. I believe that AI will gain a foothold and achieve integrated development in different companies and organizations,” Sargent said.
Regarding the issue of how to do well in asset allocation according to the economic trends in 2018, Fan Gang claimed: “Globalization won’t stop; foreign exchange risks should arouse attention while Chinese enterprises are going global, and so is personal capital. In the long term, exchange controls will be loosened step by step, and the exchange rate will fluctuate greatly.”Fan Gang continued: “As for asset allocation, our focus shouldn’t be on the trends of the RMB exchange rate, but on other currencies. Only in this way can our market develop better in a more open way. As it will definitely be more open in future, it is suggested to look at asset allocation from a global perspective.”
Regarding investment opportunities in 2018, Qiu Sisheng, the chief economist at Neo Capital and Vice President of Neo New Wealth, pointed out that the coming year would be the best time for China. Wealth would be redistributed in the next five years, not in the real estate market, but rather in the equity market. “It has been said that Chinese real estate market will no longer be the place for wealth creation, while the equity market will be. Why? When urbanization attains a certain height, real estate will no longer bring about high profits, but equity will still be vibrant, so equity allocation will be very important in the future,” Qiu Sisheng said.
In recent years, driven by the real economy and financial markets, the number of high-net-worth individuals has been increasing in China year by year, bringing about enormous demand for wealth management. In addition, according to market data, an increasing number of high-net-worth individuals that usually make big investments are making decisions with advice from investment institutions. Over 70% of the investors that make investments of over 3 million yuan cooperate with professional institutions. As their demands are increasingly diversified and integrated, high-net-worth individuals are seeking increasingly professional financial services. According to Qiu Sisheng, professional institutions will surely cut a conspicuous figure in China’s wealth market. Especially as high-end investors put forward diversified, integrated and individualized demands for investment, third-party wealth management organizations that aim to meet customers’ financial demands have a brilliant future.