Chinese Law Prof Blog

Editor: Donald C. Clarke
George Washington University Law School

Friday, October 6, 2006

Conference on China's financial markets, Oct. 12, New York

I recently received the following conference notice:

China's Financial Markets V
Co-organized with O'Melveny & Myers LLP
Date: October 12th
Time: 9:00 am - 5:00 pm
Location: The Pierre, Fifth Avenue at 61st Street, NYC
Cost: $200 members; $300 nonmembers; students $100
Phone: 212-517-ASIA

Keynote addresses by:
Dr. Harry Harding, Director, Research & Analysis, Eurasia Group
Catherine Kinney, President and Co-COO, New York Stock Exchange
Anthony Walton, Vice-Chairman, The Americas, Standard Chartered Bank

Confirmed Speakers:
Fan Bao, Chief Executive Officer, China Renaissance
Kurt Berney, Partner, O’Melveny & Myers
Howard Chao, Asia Practice Chair, O’Melveny & Myers
Wei Christianson, Chief Executive Officer, China, Morgan Stanley
Henry Cornell, Managing Director, Goldman, Sachs & Co.
Robert Delamater, Partner, Sullivan & Cromwell
Lonnie Dounn, Chief Credit Officer, Bank of China
Stephen Green, Senior Economist, Standard Chartered Bank
Nicholas Lardy, Senior Fellow, Institute for International Economics
Qingyuan Li, Senior Researcher, China Securities Regulatory Commission
Richard McGregor, China Bureau Chief, Financial Times
Henny Sender, Senior Special Writer, Wall Street Journal
Stefanie Starna, Partner, Deloitte Touche Tohmatsu
Jing Ulrich, Chairman, China Equities, J.P. Morgan
Anthony Walton, Vice-Chairman, The Americas, Standard Chartered Bank
Jeff Williams, Former President, Shenzhen Development Bank
Victor Gao, General Counsel, China National Offshore Oil Corporation (invited)

Panel 1: Developments in China’s Banking System
• What is the outlook for China’s banking industry?
• Will a market-driven financial sector evolve?
• Are NPLs a serious continuing problem?
• Has the role of the regulators changed?
• What has been the impact of the mega-IPOs by Chinese banks and will these banks emerge as international competitors?
• What role will strategic foreign investors play with Chinese banks?

Panel 2: China’s Domestic Capital Markets
• Will G share reform improve the outlook for China’s A share market in the short and long run?
• How do the G share reforms work? Which companies have been through the reforms and when will the process be complete?
• How will A share markets be impacted by QFII investors or the new policy permitting strategic investors?
• Will the corporate debt market expand through the recent experimentation with bond issuances and securitization?
• The re-emergence of domestic IPOs -- how big an impact will they make and will they really compete with offshore IPOs?
• What is the outlook for Chinese domestic securities firms and will they globalize?
• How are the foreign JV securities firms faring?
• What role has the CSRC played in recent policy and share reforms?

Panel 3: Overseas Listings by Chinese Companies
• What does the pipeline of Chinese overseas listings look like? What sectors and types of companies are hot?
• How important are Chinese IPOs to the global investment banking community?
• Why have many Chinese companies declined to list in the U.S.?
• Will China listings drive the Hong Kong Stock Exchange to the top tier of the international financial markets?
• What is the impact of the G share reforms and re-emergence of listings on Chinese domestic exchanges?
• What will be the impact of the very recent rules requiring CSRC approval for many “red chip” listings? Will we see more H share (Chinese incorporated company) offerings?
• How have Chinese listings performed around the world?

Panel 4: The Rise of M&A in China
• Both strategic and financial investors are eager to acquire Chinese assets, in the face of regulatory complexity, strong competition for good deals, and a government seemingly less eager for foreign investment. Why?
• What sectors are the most attractive? What kinds of companies -- SOEs, private companies, foreign invested companies, domestically listed companies?
• Will the new rules permitting foreign “strategic investors” to buy shares on the A share market encourage foreigners to take stakes in Chinese listed companies?
• The new M&A regulations appear to refocus approval authority for many deals in Beijing, where provincial level approvals had previously been sufficient. What will be the impact on foreign acquisitions?
• Are PE funds being targeted for greater scrutiny?
• Approvals have been held up for several high profile acquisitions. Has the Chinese government started to worry about allowing foreigners to buy China’s “crown jewel” companies?

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