Group photo of the IFF Members at the Opening Ceremony of the International Finance Forum (IFF) 11
th Annual Conference on October 31
th, 2014.
International Finance Forum (IFF) 2014 Annual Conference: U.N. Secretary-General Ban Ki-moon, IFF Co-Chairmen, former President of the European Central Bank Jean-Claude Trichet, 26th Prime Minister of Australia Kevin Rudd, and former Prime Minister of Republic of Korea and President of the 56th Session of the UN General Assembly Han Seung-soo; Chairman of IFF Advisory Committee and former Prime Minister of Japan Yukio Hatoyama; and Vice Chairman of the 12th National Committee of the CPPCC and Chairman of the All-China General Chamber of Industry and Commerce Wang Qinmin addressed to the conference. IFF Chairman, Cheng Siwei, delivered the opening remark. Speeches were made by IFF members and global financial leaders and scholars, such as Executive Vice President of IFF and President of Asian Infrastructure Investment Bank Jin Liqun; HRH Prince Turki Bin Abdullah Bin Abdulaziz; Deputy Minister of Finance of China Zhu Guangyao; IFF Advisory Committee Member and General Manager of Bank for International Settlements (BIS) Jaime Caruana; Deputy Minister of the International Department of CPC Central Committee Yu Hongjun; Chairman of Board of Industrial and Commercial Bank of China Jiang Jianqing; Chairman of the Board of Bank of China Tian Guoli; Chairman of the Board of Wing Lung Bank, Hong Kong Ma Weihua; Former Vice Governor of Guangdong Chen Yunxian; and Vice Chairman of Shanghai Committee of CPPCC Zhou Hanmin.
Agenda
Friday, 31 October 2014
08:00 - 22:00 1.1 Registration
12:00 - 13:00 Conference Check-in and Tea Time
13:00 - 16:00 1.2 IFF 5th Leadership Dialogue
Global Debt – Risks, Challenges and Opportunities
Bank of International Settlements (BIS) has warned that the world economy is just as vulnerable to a financial crisis as it was in 2007, with the added danger that debt ratios are now far higher and emerging markets have been drawn into the fire as well. Mr. Jaime Caruana, IFF Advisory Committee member and the General Manager of the BIS said that investors were ignoring the risk of monetary tightening in their voracious hunt for yield. "Markets seem to be considering only a very narrow spectrum of potential outcomes. They have become convinced that monetary conditions will remain easy for a very long time, and may be taking more assurance than central banks wish to give." Mr. Caruana believes the world economic system is, in many aspects, more fragile than it was, before the Lehman crisis. The flourishing private credit industry in China, Brazil, Turkey and other emerging economies is the result of the spillover effect of Western countries' QE. The long-term monetary stimulus policies in US, Europe and Japan have led to liquidity spillover affecting the rest of the world. Rising Asian countries could no longer act as a firebreak, and may themselves now be a source of risk.
Moderator:
· Mr. Jin Liqun, Executive Vice President of IFF; Secretary-General, Multilateral Interim Secretariat for Establishing Asian Infrastructure Investment Bank
Speaker:
· Mr. Jaime Caruana, Member of IFF Advisory Committee; General Manager of the Bank for International Settlements (BIS)
Panelists:
· IFF Members and VIP Guests (Appendix)
16:30 - 16:30 Coffee Break
16:30 - 18:00 1.3 IFF Membership Meeting (By Invitation Only)
Moderator:
· Mr. Jin Liqun, Executive Vice President of IFF; Secretary-General, Multilateral Interim Secretariat for Establishing Asian Infrastructure Investment Bank
Remark:
· Mr. Cheng Siwei, Chairman of IFF
IFF 2014 Annual Report: Review and Prospects
· Mr. Dai Xianglong, President of IFF
IFF Academic Development Report
· Mr. Xiao Geng, IFF Academic Committee Executive Member
Plenary Discussion: IFF Development Proposals: Establishing International Think-tank
· IFF Members and VIP Guests
18:00 - 20:00 1.4 Welcome Banquet
Moderator:
· Mr. Dai Xianglong, President of IFF
Remarks:
· Mr. Cheng Siwei, Chairman of IFF
· Ms. Li Xiaolin, President of the Chinese People's Association for Friendship
Saturday, 1 November 2014
09:00 - 10:00 2.1 Opening Ceremony
Moderator:
· Mr. Cheng Siwei, Chairman of IFF
· Mr. Ban Ki-moon, UN Secretary-General (video)
· Mr. Jean-Claude Trichet, Co-chairman of IFF; Former President of European Central Bank; President of Group of 30 (video)
· Mr. Han Seung-soo, IFF Co-chairman; Former Prime Minister of Republic of Korea; President of the 56th Session of the UN General Assembly
· Mr. Yukio Hatoyama, Chairman of IFF Advisory Committee; Former Prime Minister of Japan
· Mr. Wang Qinmin, Vice Chairman of the 12th National Committee of the Chinese People's Political Consultative Conference; Chairman of the All-China General Chamber of Industry and Commerce
· HRH Prince Turki bin Abdullah bin Abdulaziz Al-Saud, Co-chairman of IFF Fund Committee, Governor Riyadh Principality, Kingdom of Saudi Arabia (Read on behalf of the Prince by Dr Abdulaziz Al-Mulhem)
10:00 - 12:00 2.2 Reform the New Financial Order (I):
Global Financial Architecture
With the growing impact and challenges of the new global frameworks, together with the challenges posed by the constant influence of modern technology and civilization on financial services, whether it is America, China, Europe, Asia or other countries and regions, the world economy is confronted with major transformation. Relaunching transformation, establishing new global financial frameworks, formulating new regulatory systems, reconstructing new pattern of the world finance, as well as guiding the global economy through a sustainable growth and recovery, have become top priorities.
Moderator:
· Mr. Dai Xianglong, President of IFF
Speakers:
· Mr. Yukio Hatoyama, Chairman of IFF International Advisory Committee; Former Prime Minister of Japan
· Mr. Domenico Siniscalco, Member of IFF Advisory Committee; Former Minister of Finance of Italy; Vice Chairman of Morgan Stanley Europe
· Mr. Charles H. Dallara, Vice President of IFF, Former Managing Director of the Institute of International Finance (IIF), Executive Vice Chairman of Partners Group Holding Partner
· Mr. Zhu Guangyao, Vice Minister of Finance, P.R.China
· Mr. Jiang Jianqing, Chairman of Industrial and Commercial Bank of China
Plenary Discussion:
· IFF Members and VIP Guests
12:00 - 14:00 2.3 Luncheon Speech:
Rising Global Debt – Risks, Challenges and Opportunities
Moderator:
· Mr. Cheng Siwei, Chairman of IFF
Speaker:
· Mr. Jaime Caruana, Member of IFF Advisory Committee; General Manager of the Bank for International Settlements (BIS)
14:00 - 16:00 2.4A Reform the New Financial Order (II):
International Monetary System
After experienced the global financial crisis and the European sovereign debt crisis, global economy trends to remain steady growth. Nevertheless, the economic volatility in the Euro zone recovery and the recent "dedollarization" phenomenon in the world trade and investment, have caused the concern of whether the Euro and dollar still maintain their roles as the most influential international currency. Understanding the present status of major international currencies and the risks of rising global debt is essential for foreseeing the trend of world monetary system.
- Economic Crisis and SDR Basket
- Current Role of US Dollar
- Impact of Euro Zone's Modest Recovery on Euro
- Rising Global Debt: Risks, Challenges and Opportunities
Moderator:
· Mr. Jin Liqun, Executive Vice President of IFF; Secretary-General, Multilateral Interim Secretariat for Establishing Asian Infrastructure Investment Bank
Speakers:
· Mr. Guillermo Ortiz, IFF Board Member; Former Chairman of the Board of BIS; Former Governor of the Banco de Mexico; Former Minister of Finance.
· Mr. Justin Lin, IFF Advisory Committee Member; Dean of the China Center for Economic Research, Peking University; Former Chief Economist and Senior Vice President of the World Bank
· Ms. Marsha Vande Berg, Senior Fellow, Harvard Law Program on International Financial Systems; Former Chief Executive Officer, Pacific Pension Institute
· Mr. Marc Uzan, Executive Director and founder of the Reinventing Bretton Woods Committee
Panelists:
· Mr. Oltmann Siemens, Former Deputy Governor, Former Head of the European Office of the World Bank Group
· Mr. Alfred Schipke, Senior Resident Representative of International Monetary Fund (IMF) in Beijing
· Mr. Kim Jun Il, Deputy Governor of Bank of Korea (BOK)
· Mr. Christopher Jeffery, Editor-in-chief of Central Banking Journal
· Mr. Qiao Yide, Vice Chairman and Secretary General of Shanghai Development Research Foundation (SDRF)
· IFF Members and VIP Guests
14:00 - 16:00 2.4B 13th Five-Year Plan and China's Financial Reform (I)
(By invitation Only)
Moderator:
· Mr. Zhang Yansheng, IFF Academic Committee Executive Member; Secretary-General, Academic Committee of National Development and Reform Commission (NDRC)
Panelists:
· Mr. Chen Yunxian, Vice Governor of Guangdong Province
· Ms. Wang Yuan, IFF Academic Committee Executive Member; Chief Economist of China Development Bank
· Mr. Huo Xuewen, Member of IFF Academic Committee; CPC Party Chief of Beijing Municipal Bureau of Finance Work
· Mr. Li Daokui, Member of IFF Academic Committee; Director of the Center for China in the World Economy, Tsinghua University
· Mr. Jin Zhongxia, Member of IFF Academic Committee; Director-General, Institute of Finance of PBOC
· Mr. Pang Zhongying, Member of IFF Academic Committee; Director of Centre for the Study of Global Governance, School of International Studies, Renmin University of China
· Mr. Chen Zhiwu, Member of IFF Academic Committee, Professor of Finance, Yale University
· Mr. Zhang Liqing, Member of IFF Academic Committee; Dean of School of Finance, Central University of Finance and Economics
· Mr. Sun Lijian, Director of Financial Research Center, Fudan University
· Mr. Chen Xingdong, Managing Director and Chief Economist of BNP Paribas (China)
· Mr. Joe Horn-Phathanothai, ASEAN & East Asia Leaders Program
· IFF Members and VIP Guests
16:00 - 16:30 Coffee Break
16:30 - 18:30 2.5A Reform the New Financial Order (II):
RMB Internationalization
The internationalization of RMB is accelerating. To understand its objective necessity and upcoming challenges is vital for the world monetary market forecasts as well as the strategy development of the national and international companies. Persevering in the market formation, government promotion and monetary cooperation of the RMB internationalization, would be propitious to make the periodic policies and gradually enhance the status and influence of RMB in the world monetary market.
- Legitimate Approach of RMB Internationalization
- Influence of RMB Cross-Border Trade Settlement on the Investment
- RMB Internationalization and China's Free Trade Zone Development
- RMB Internationalization and Development of RMB Offshore Market
Moderator:
· Mr. Xiao Geng, IFF Academic Committee Executive Member; Honorary Professor of University of Hong Kong
Speakers:
· Mr. Han Seung-soo, IFF Co-chairman; Former Prime Minister of Republic of Korea; President of the 56th Session of the UN General Assembly
· Mr. Tian Guoli, Chairman of Bank of China
· Mr. Chen Yulu, Member of IFF Academic Committee; President of Renmin University of China
· Mr. William Overholt, Senior Fellow of Harvard University Asia Center; President of Fung Global Institute
· Mr. Christopher Jeffery, Editor-in-chief of Central Banking Journal
· Ms. Julia Leung，former Under Secretary of Financial Services and the Treasury Bureau, HKSAR
Discussion:
· Mr. Song Min, Member of IFF Academic Committee; Director of Centre for China Financial Research, University of Hong Kong
· Mr. Huang Haizhou, Managing Director of China International Capital Corporation (CICC)
· IFF Members and VIP Guests
16:30 - 18:30 2.5B 13th Five-Year Plan and China's Financial Reform (II)
(By invitation Only)
Moderator:
· Ms. Wang Yuan, IFF Academic Committee Executive Member; Chief Economist of China Development Bank
Panelists:
· Mr. Chen Yunxian, Vice Governor of Guangdong Province
· Mr. Zhang Yansheng, IFF Academic Committee Executive Member; Secretary-General, Academic Committee of National Development and Reform Commission (NDRC)
· Mr. Huo Xuewen, Member of IFF Academic Committee; CPC Party Chief of Beijing Municipal Bureau of Finance Work
· Mr. Li Daokui, Member of IFF Academic Committee; Director of the Center for China in the World Economy, Tsinghua University
· Mr. Jin Zhongxia, Member of IFF Academic Committee; Director-General, Institute of Finance of PBOC
· Mr. Pang Zhongying, Member of IFF Academic Committee; Director of Centre for the Study of Global Governance, School of International Studies, Renmin University of China
· Mr. Chen Zhiwu, Member of IFF Academic Committee, Professor of Finance, Yale University
· Mr. Zhang Liqing, Member of IFF Academic Committee; Dean of School of Finance, Central University of Finance and Economics
· Mr. Sun Lijian, Director of Financial Research Center, Fudan University
· Mr. Chen Xingdong, Managing Director and Chief Economist of BNP Paribas (China)
· Mr. Joe Horn-Phathanothai, ASEAN & East Asia Leaders Program
· IFF Members and VIP Guests
19:00 - 21:00 2.6 Dinner Dialogue:
New Landscape of China-US Win-Win Cooperation
Moderator:
· Mr. Yu Hongjun, Vice President of IFF; Former Vice Minister of the International Department of the Central Committee of the Communist Party of China
Remark:
· Ms. Li Xiaolin, President of the Chinese People's Association for Friendship
Speaker:
· Mr. Kevin Rudd, Co-chairman of IFF; Former Prime Minister of Australia
Discussion:
· IFF Members and VIP Guests
Sunday, 2 November 2014
09:00 - 10:30 3.1 China Watch (I): China in Transition
– Economic Transformation and Deepened Reform
Over the next 5-10 years, China will intensively implement the reform in order to promote the restructuring and upgrading of China’s economic structure as well as the sustained and sound development of economic development. Meanwhile, Chinese macro economy is facing the challenges of deepening the reform comprehensively. Under the impact of the financial globalization, how to maintain the continuity and stability of macroeconomic policy, and how to effectively implement both short-term and long-term policies and measures to the problems in the economic operation have become crucial issues.
- 13th Five-Year Plan's impact on China's financial market reform
- Review of China's Macroeconomic Environment and Policies––Insights, Challenges and Impact
- Challenges and Approach to Mixed-Ownership Reform of China's State Owned Enterprise (SOE)
- Influence of Local Government Debt Control
- Capital and Land Distribution in the Urbanization Process
Moderator:
· Mr. Jin Liqun, Executive Vice President of IFF; Secretary-General, Multilateral Interim Secretariat for Establishing Asian Infrastructure Investment Bank
Speakers:
· Mr. Cheng Siwei, Chairman of IFF
· Mr. Jiang Jianqing, Chairman of Industrial and Commercial Bank of China
· Mr. Ma Weihua, Vice President of IFF and Chairman of IFF Fund Committee; Chairman of Wing Lung Bank Hong Kong
· Mr. Nicholas Hope, Member of IFF Academic Committee; Director of International Development Center, Stanford University
· Mr. Bert Hofman, IFF Academic Committee Executive Member, World Bank Country Director for China, the Republic of Korea and Mongolia
Discussion:
· IFF Members and VIP Guests
10:30 - 11:00 Coffee Break
11:00 - 12:30 3.2 China Watch (II):
National Strategies and Regional Economic Integration
China has been achieving rapid development in the regional economic integration. A sequence of national strategies and regional economy landscapes––from the newly ratified national district, the integration of Beijing, Tianjin and Hebei, the Silk Road Economic Belt, to the 21 century "Maritime Silk Route" and the Yangtze River Economic Belt––would reshape China's economic scene and promote the transformation and upgrading of China's economy. New patterns, new opportunities and new challenges would be occurred in the development of China's regional economy.
- China's New Economic Territory: National Strategy and Regional
Economic Composition
- Trade and economic cooperation consolidation: Development of the New Silk Road
- Integration of Beijing, Tianjin and Hebei: Regional Integration and Financial Integration
- Prospect of Shanghai Free Trade Zone and "Hugang Tong"
- Free Trade Zone among China, Japan and South Korea
Moderator:
· Mr. Dai Xianglong, President of IFF
Speakers:
· Mr. Gu Shengzu, Member of IAC of IFF, Vice-Chairman of Financial and Economic Affairs Committee of the National People's Congress, Vice President of China Democratic National Construction Association
· Mr. Cui Jindu, Executive Deputy Mayor of Tianjin
· Mr. Zhou Hanmin, Vice Chairman of Municipal CPPCC Committee of Shanghai
· Mr. Ouyang Weimin, Standing Member of Municipal CPC Committee of Guangzhou
· Mr. Zou Yong, Deputy Director of the Department of Regional Economy, NDRC
· Mr. Xiao Geng, IFF Academic Committee Executive Member; Honorary Professor of University of Hong Kong
Panelists:
· Mr. Zhang Yansheng, IFF Academic Committee Executive Member; Secretary-General, Academic Committee of National Development and Reform Commission (NDRC)
· Ms. Wang Yuan, IFF Academic Committee Executive Member; Chief Economist of China Development Bank
· Mr. Huo Xuewen, Member of IFF Academic Committee; CPC Party Chief of Beijing Municipal Bureau of Finance Work
· Mr. Guo Shaoquan, Chairman of Bank of Qingdao
· IFF Members and VIP Guests
12:30-14:00 3.3 Luncheon Speech:
Modernization of China's National Governance System
Moderator:
· Mr. Ma Weihua, Vice President of IFF and Chairman of IFF Fund Committee; Chairman of Wing Lung Bank Hong Kong
Speaker:
· Mr. Jiang Ping, Tenured Professor, Former President of China University of Political Science and Law
14:00 - 16:00 3.4A China Watch (III):
Multi-layered Capital Markets – Development and Innovation
Despite the sufficient money supply, China's market lacks the social capital accumulation ability, and therefore, conceals major financial risks. How to reform and innovate the capital market while maintaining its marketization, legalization and internationalization; how to improve the multilayer capital market and promote its sound development; and how to enhance the fundamental contributions of the capital market to the resource allocation, have become the vital tasks.
- Expand Opening of Capital Market
- Development of Integrated Financial Conglomerates
- Development of Modern Insurance Service Industry and Relevant Policy
(Several Opinions of the State Council on Accelerating the Development Insurance Service Industry)
- Financial Institution Supervisory and Regulatory System
- Financial Innovation: From Private Capital to Internet Financing
Moderator:
· Mr. Ma Weihua, Vice President of IFF and Chairman of IFF Fund Committee; Chairman of Wing Lung Bank Hong Kong
Speakers:
· Mr. Wang Jianxi, Former Chairman of China Investment Corporation (CIC)
· Ms. Zhao Haiying, Deputy General Manager at Central Huijin Investment Ltd.
· Mr. Zhang Shenfeng, Board Chairman of China Financial Futures Exchange (CFFEX)
Panelists:
· Mr. Charles H. Dallara, Vice President of IFF, Former Managing Director of the Institute of International Finance (IIF), Executive Vice Chairman of Partners Group Holding Partner
· Ms. Marsha Vande Berg, Senior Fellow, Harvard Law Program on International Financial Systems; Former Chief Executive Officer, Pacific Pension Institute
· Mr. Yuan Fuhua, Chairman and President of Bank of Tianjin
· Mr. Johan de Wit, Vice President of Bank of Beijing
· Mr. Ding Zhijie, Assistant to the President of University of International Business and Economics
· Mr. Huang Zhen, Director of the Institute of Financial Law at the Central University of Finance and Economics (CUFE)
· IFF Members and VIP Guests
14:00 - 16:00 3.4B RMB Internationalization
– Policy Option and Market Impact (I) (By invitation Only)
Moderator:
· Mr. Xiao Geng, IFF Academic Committee Executive Member; Honorary Professor of University of Hong Kong; Vice President, Fung Global Institute
Panelists:
· Mr. Song Min, Member of IFF Academic Committee; Director of Centre for China Financial Research, University of Hong Kong
· Mr. Wei Benhua, Former Deputy Director General of State Administration of Foreign Exchange (SAFE)
· Mr. Guan Tao, Director-General, Balance of Payments Department, SAFE
· Mr. Huang Yiping, Professor of Economics at the National School of Development, Peking University
· Ms. Julia Leung, former Under Secretary of Financial Services and the Treasury Bureau, HKSAR
· Mr. Qiao Yide, Vice Chairman and Secretary General of Shanghai Development Research Foundation
· Mr. Liu Ligang, Chief China Economist, ANZ Bank
· Mr. Ma Guonan, Senior Fellow, Fung Global Institute; former Senior Economist and Representative Office for Asia and the Pacific, BIS
· Ms. Liang Hong, Chief Economist of China International Capital Corporation (CICC)
· Mr. Qu Hongbin, Chief Economist for Greater China, HSBC
· Mr. Ben Shenglin, Professor of Zhejiang University, Former Head of JPMorgan Chase Bank (China) Co. Ltd.
· IFF Members and VIP Guests
16:00 - 16:30 Coffee Break
16:30 - 18:30 3.5A China Watch (IV): Outbound Investments
– Trends, Opportunities and Challenges
Overseas investment requires not only the sufficient capital, also the multinational corporations, products, brands and management capacity that are internationally competitive. With the emerging of these elements, China is growing into a major power of overseas investment. How to diversify China's overseas investment entities and methods; how to enhance financial services; and how to understand and improve international investment environment, has become a common concern of the international community.
- Necessities and Challenges of SOE's Overseas Investment and Acquisition
- Diversification of Overseas Investment Entities and Methods
- Influence of Private Capital in China's Overseas Investment
- Financial Service Contributions to China's Overseas Investment
- International Environment and National Policy Support
Moderator:
· Mr. Zhang Yansheng, IFF Academic Committee Executive Member; Secretary-General, Academic Committee of National Development and Reform Commission (NDRC)
Speakers:
· Mr. Jin Liqun, Executive Vice President of IFF; Secretary-General, Multilateral Interim Secretariat for Establishing Asian Infrastructure Investment Bank
· Mr. Li Keping, General Manager of China Investment Corporation
· Mr. Zhao Xiaoyu, Executive Vice President of China Development Bank
· Mr. Russ Hiebert, Canadian Members of Parliament
· Ms. Kadidia Konare，Special Adviser to the President of Republic of Mali
· Mr. Oltmann Siemens, Former Deputy Governor and Former Head of the European Office of the World Bank Group
Panelists:
· Mr. Kim Jun Il, Deputy Governor of Bank of Korea (BOK)
· Mr. Marc Uzan, Executive Director and Founder of Reinventing Bretton Woods Committee
· IFF Members and VIP Guests
16:30 - 18:30 3.5B RMB Internationalization
– Policy Option and Market Impact (II) (By invitation Only)
Moderator:
· Mr. Song Min, IFF Academic Committee Executive Member; Director of Centre for China Financial Research, University of Hong Kong
Panelists:
· Mr. Xiao Geng, IFF Academic Committee Executive Member; Honorary Professor of University of Hong Kong; Vice President, Fung Global Institute
· Mr. Wei Benhua, Former Deputy Director General of State Administration of Foreign Exchange (SAFE)
· Mr. Guan Tao, Director-General, Balance of Payments Department, SAFE
· Mr. Huang Yiping, Professor of Economics at the National School of Development, Peking University
· Ms. Julia Leung, former Under Secretary of Financial Services and the Treasury Bureau, HKSAR
· Mr. Qiao Yide, Vice Chairman and Secretary General of Shanghai Development Research Foundation
· Mr. Liu Ligang, Chief China Economist, ANZ Bank
· Mr. Ma Guonan, Senior Fellow, Fung Global Institute; former Senior Economist and Representative Office for Asia and the Pacific, BIS
· Ms. Liang Hong, Chief Economist of China International Capital Corporation (CICC)
· Mr. Qu Hongbin, Chief Economist for Greater China, HSBC
· Mr. Ben Shenglin, Professor of Zhejiang University, Former Head of JPMorgan Chase Bank (China) Co. Ltd.
· IFF Members and VIP Guests
18:30 - 20:00 3.6 Closing Reception and Concluding Remarks
Summary:
· Mr. Dai Xianglong, President of IFF
Closing Remark:
· Mr. Kevin Rudd, Co-chairman of IFF; Former Prime Minister of Australia
Note: The aforesaid schedule, all sessions and speakers in the program are confirmed on the conference program for printing. Any changes will be announced within meeting venues.