Ravi Menon: Introducing Zhou Xiaochuan Opening remarks by Mr Ravi Menon, Managing Director of the Monetary Authority of Singapore, at MAS Lecture 2019 by Zhou Xiaochuan, Singarpre, 19 September 2019. * * * Dr Zhou Xiaochuan, President, China Society for Finance and Banking, and former Governor, People’s Bank of China Mr Tharman Shanmugaratnam, Senior Minister and Chairman, MAS Mr Goh Chok Tong, Emeritus Senior Minister and Senior Advisor to MAS Distinguished guests, friends and colleagues, good morning. Welcome to the tenth MAS Lecture. Since its launch in 2000, the MAS Lecture has featured leading members of the international financial community to share their perspectives on the economic and financial issues of the day. I have been trying to get Dr Zhou to speak at the MAS Lecture almost since the time I became MD MAS eight years ago. On at least a couple of occasions, Dr Zhou actually agreed to deliver the Lecture, only to be prevented from doing so by pressing issues back home in China. And now, the stars have finally aligned to bring Dr Zhou to Singapore and to deliver the MAS Lecture. Perhaps, there is a deeper significance as to why the stars conspired to make Dr Zhou deliver the MAS Lecture in 2019 and not earlier. This year marks the 10th anniversary of China’s bold move to gradually internationalise the RMB. It was in 2009 that the People’s Bank of China launched a cross-border RMB trade settlement pilot scheme.
The week of 12–18 March 2018 is internationally known as the Money Week. Initiated by Child and Youth Finance International, with the support of the Organisation for Economic Co-operation and Development (OECD), and adopted by more than 23.000 organisations across the globe, the Money Week is an annual financial awareness campaign built to inspire children and young people to learn about money matters, livelihoods and entrepreneurship. The celebration of this Week aims at raising the awareness of the younger generation to be responsible future citizens and capable of making well-informed financial decisions Following the tradition from the previous years, the Bank of Albania, in cooperation with the Albanian Association of Banks, with the support of the Ministry of Education, Sports, and Youth, like many other institutions worldwide, will organize various activities to involve children and young people, teaching them how to manage money, to save money, to think financially, to understand the changes in the economic systems where they live, to earn income through entrepreneurship, and set the foundations for their future through financial literacy. In the light of these objectives, during the Week, a number of activities will be organised such as lectures, contests, and visits to commercial banks and the Museum, aimed at including as many students as possible. This year’s motto “Money: You reap what you sow” highlights the importance of money matters as a necessary means to achieve and maintain welfare.