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China Financial Markets IV
Wednesday, September 28, 2005
7:45am—5:00pm
Asia Society,725 Park Avenue, NYC
| Corporate Sponsors: |
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Outreach Partners: Committee of 100, The Hong Kong Association of New York, KWR International, Inc., and the National Committee on US-China Relations
Read the Keynote Speeches:
 “China’s Financial Markets – Understanding the Misunderstandings”
Chairman Vincent Cheng, Hongkong and Shanghai Banking Corporation
“The New Era of Opportunity”
Catherine Kinney, President and Co-Chief Operating Officer, New York Stock Exchange
7:45AM – 8:30AM: Registration and Breakfast
8:30AM – 8:45AM: Conference Begins – Welcoming Remarks
8:45AM – 10:00AM: Panel One – Progress in Reforms of the Chinese Banking System
The big four Chinese commercial banks and some second tier banks are preparing for listing on international markets. Underscoring how fundamental restructuring of the banking system is in readying these banks for listing and for competition with international banks, experts discuss steps that have been taken to improve governance and transparency and resolve non-performing loan issues; changes in management and training to further develop appropriate credit; market and reputational risk management; implications of development of Chinese capital markets; new product development; and the impact of foreign banks on the domestic banking system.
Moderator |
Henny Sender – Staff Writer, The Wall Street Journal |
Panelists |
Pieter Bottelier – Visiting Associate Professor, SAIS, Johns Hopkins University
Simon Gleave – Partner, KPMG Beijing
May Yan – Vice President and Senior Analyst, Moody’s Asia Pacific Limited
Yan Qingmin – Director General, Banking Supervisory Department I, CBRC
Zheng Wanchun – Executive Deputy President, China Huarong Asset Management Corporation |
10:00AM – 10:15AM: Coffee Break
10:15AM – 11:45AM: Panel Two – Development of Chinese Domestic Capital Markets
Chinese domestic capital markets have long been overshadowed by the banking sector. Undeniably, funding provided by domestic equity capital markets remains a small fraction of what is provided by the banks and domestic debt markets are still undeveloped. Experts discuss the necessary steps to invigorate domestic equity markets and create a true corporate debt market; the effect of more robust capital markets on the banking system; regulatory challenges to improve disclosure; corporate governance and financial accounting; new financial products; the emergence of Chinese institutional investors; the implication of cross border issuance; and the role of domestic versus foreign investors.
Moderator |
Anita Fung – Treasurer and Head of Global Markets, Asia-Pacific, HSBC |
Panelists |
Paul Coughlin – Executive Managing Director, Standard & Poor’s Corp.
Hua Yi Feng – Executive Vice President, Guo Tai Junan Securities
Perry Noble – Global Co-Head of Finance, Freshfields Bruckhaus Deringer
Jim Shapiro – Senior Managing Director, Galileo Global Advisors, LLC
Zhao Qian – Partner, Haiwen & Partners |
12:00PM – 12:30PM: Lunch
12:30PM – 1:30PM: Luncheon Keynote Address
“China’s Financial Markets – Understanding the Misunderstandings”
Chairman Vincent Cheng, Hongkong and Shanghai Banking Corporation
1:30PM – 3:00PM: Panel Three – Private Equity/Venture Capital Investing in China
The past year has seen a rush of international private equity funds of virtually all asset classes into the China market. The Sand Hill VCs are now regulars on the cross-Pacific flights to Shanghai and Beijing and several larger buyout funds are now focusing on China. Distressed asset investors are still struggling to make a market for Chinese NPLs and even hedge funds and real estate investment funds have become active in China. Experts discuss the current forces driving increased investor activity; prospects for various asset classes; the expected or typical exit; how investments are structured; how deals are sourced, evaluated, diligenced and tracked; and the possibility of renminbi co-investments and exits.
Moderator |
Dick Shaffer – President & Editor, Financial Services, Dow Jones |
Panelists |
Keith Abell – Vice Chairman and Co-Founder, GSC Partners
Howard Chao – Partner and Head of Asia Practice, O’Melveny & Myers LLP
Henry Cornell – Managing Director, Goldman, Sachs & Co.; Trustee, Asia Society
Leland Lewis – Partner, Key Principal Partners
Thomas Toy – Managing Director and Co-Founder, PacRim Venture Partners |
3:00PM – 3:40PM: Afternoon Keynote Address
“The New Era of Opportunity”
Catherine Kinney, President and Co-Chief Operating Officer, New York Stock Exchange
3:40PM – 5:00PM: Panel Four – Chinese Issuers in the International Capital Markets
Chinese issuers are increasingly venturing outside of China and emerging as one of the primary sources of investment opportunities on the international capital markets. Hong Kong continues to be the listing market of choice for most Chinese companies. While Chinese technology companies prefer the NASDAQ, larger Chinese companies continue to tap the 144A market or, for very large deals, the NYSE. Experts discuss the factors driving Chinese issuers into the international capital markets; medium-term projections of where listings will be in the future, including the future role of Hong Kong, as well as the New York, London, Singapore, Tokyo and other exchanges; the possible composition of the next generation of listed companies; and constraints on creating a quality candidate pool.
Moderator |
Kurt Berney – Partner, O’Melveny & Myers LLP |
Panelists |
Paul Dudek – Chief, Office of International Corporate Finance, U.S. SEC
George Koo – Director, Chinese Services Group , Deloitte & Touche
Steven Wallace – Managing Director and Head of Advisory, Asia Pacific, Global Investment Banking, HSBC
Yang Changbo – Managing Director, CICC Ltd. |
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