The 2018 edition of the Finance Summit was hosted by Neo Capital Management Group Company Limited. The theme was “New Era and New Wealth”. The summit hosted a number of different economists, entrepreneurs, and scholars both from China and from other countries. The list included Thomas Sargent and Fan Gang. The former won the Nobel Prize in Economics and the latter is a well-known research fellow engaged at the Chinese Academy of Social Sciences. The list of other reputed dignitaries included Dan Bin, Shen Minggao, Yu Yonhding, and Shao Bingren. Top executives of Neo New Wealth and Neo Capita were also present. The latter informed the assembled audience about the 2018 economic trends. They also shared their investment insights with a number of investors.
Thomas Sargent gave the keynote speech. The speech concerned Artificial Intelligence and how Blockchain creates more challenges and also opportunities. He showed how the future will be shaped by these two technologies. As per Sargent, blockchain technology is an extremely reliable method to construct a robust financial system. The reason for this is that it is an extremely stable one and is not formed by a random sequence of events. It is based on all the previously created e-signatures. This technology offers superlative technical support for the financial system. Investors also find this technology exciting.
Sargent pointed out that China at present is a place for talented individuals, especially young persons proficient in computers and statistics. He believes that AI will get a foothold and also achieve the integrated development in different organizations and companies. Fan Gang imparted valuable knowledge in the allocation of assets as per the 2018 economic trends. He opined that globalization will continue. Chinese companies must pay attention to risks inherent in foreign exchange. Personal capital is also important in this scenario.
According to Fan Gang, when it comes to the allocation of assets, China's focus must not be in RMB exchange rate, but on a number of other currencies. Only by this method can the Chinese market develop better. As the market can only be more open in the future, the allocation of assets must only be done from a global perspective. Qiu Sisheng, chief economist, Neo Capital, and also the Vice President, Neo New Wealth, said that the 2018 investment opportunities are much better for China. Wealth would be distributed in equity market but not in real estate market.