DOCSLIB.ORG

List of Speakers

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
List of Speakers LIST OF SPEAKERS Plenary Speakers Distinguished Fellow, Fung Global Institute Andrew Sheng Chief Adviser, China Banking Regulatory Commission Group Managing Director, The HSBC Group Peter Wong Deputy Chairman and Chief Executive (Asia-Pacific), The Hongkong and Shanghai Banking Corporation Limited Yu Gang Co-Founder and Chairman, Yihaodian President, China Education Association for International Exchange President, International Union for Conservation of Nature Zhang Xinsheng Executive Chairman, Eco-Forum Global Former Chairman, Executive Board of United Nations Educational Scientific and Cultural Organization (UNESCO) Moderator Independent Writer and Analyst Bettina Wassener Former Asian Economics Correspondent, International New York Times ABOUT THE SPEAKERS Speakers Andrew Sheng Distinguished Fellow, Fung Global Institute Chief Adviser, China Banking Regulatory Commission Andrew Sheng is a Distinguished Fellow of the Fung Global Institute (an independent think-tank which examines global issues from Asian perspectives) and a Chief Adviser to the China Banking Regulatory Commission. He also sits on several international, regional and national boards and advisory panels. He is a board member of Khazanah Nasional Berhad, Malaysia. He also serves as a member of the International Advisory Panel to the Australian Treasury’s Financial System Inquiry, an advisor to the United Nations Environment Program Inquiry into the Design of a Sustainable Financial System, the International Advisory Council of the China Investment Corporation, the China Development Bank, the Advisory Council on Shanghai as an International Financial Centre, the China Securities Regulatory Commission and the Securities and Exchange Board of India. He is also a member of the Future of Finance Advisory Council chaired by Professor Sir John Kay. Mr Sheng was President of the Fung Global Institute from 2011 to 2014 and Chairman of the Securities and Futures Commission of Hong Kong from 1998 to 2005, having previously been a central banker with the Hong Kong Monetary Authority and Bank Negara Malaysia. He also worked with the World Bank from 1989 to 1993. He has written extensively on international finance and monetary economics, financial regulation, and global governance. A chartered accountant by training, Mr Sheng has a BSc in Economics and an Honorary Doctorate from the University of Bristol. In April 2013, he was named by TIME magazine as one of the 100 most influential people in the world. Peter Wong Group Managing Director, The HSBC Group Deputy Chairman and Chief Executive (Asia-Pacific), The Hongkong and Shanghai Banking Corporation Limited Peter Wong is Deputy Chairman and Chief Executive (Asia-Pacific) of The Hongkong and Shanghai Banking Corporation Limited. He is a Group Managing Director and a member of the Group Management Board of the HSBC Group. Mr Wong sits on the boards of a number of entities within the HSBC Group, including Chairman and non-executive Director of HSBC Bank (China) Company Limited and Chairman and non-executive Director of HSBC Bank Malaysia Berhad. He also holds non-executive directorships at Hang Seng Bank Limited and Bank of Communications Co Ltd and is an independent non-executive Director of Cathay Pacific Airways Limited. Since joining HSBC in 2005, he was Group General Manager and Executive Director, Hong Kong and mainland China of The Hongkong and Shanghai Banking Corporation (from April 2005 to January 2010), before assuming the position of Chief Executive for Asia-Pacific in February 2010. He became Deputy Chairman of The Hongkong and Shanghai Banking Corporation in May 2013. Mr Wong’s banking career began in 1980 when he joined Citibank. He then joined Standard Chartered Bank in 1997. Mr Wong also serves on various government and regulatory bodies as well as industry associations in Hong Kong and China. He was educated at Indiana University in the US and holds a Bachelor’s degree in Computer Science, an MBA in Marketing and Finance and an MSc in Computer Science. Yu Gang Co-Founder and Chairman, Yihaodian Yu Gang is the co-founder and Chairman of Yihaodian (www.yhd.com), a leading e-commerce company in China. Prior to founding Yihaodian, he was the Vice-President; Worldwide Procurement at Dell Inc. and Vice-President; Worldwide Supply Chain Operations at Amazon.com. Before Amazon, Dr. Yu served as the Jack G. Taylor Chair Professor in Business in the Department of Management Science and Information Systems at the McCombs School of Business, University of Texas at Austin. He has also been an adjunct professor at various leading Chinese universities. In 1995, he founded US-based CALEB Technologies Corporation which developed a flight management system adopted by numerous large U.S. airlines. In 2002, it was merged with Accenture. Dr. Yu has received numerous international awards including: the 2002 Franz Edelman Management Science Achievement Award from INFORMS, the 2002 IIE Transaction Award for Best Application Paper, the 2003 Outstanding IIE Publication Award from the Institute of Industrial Engineers, the 2012 Martin K. Starr Excellence in Production and Operations Management Practice Award from POMS. He was also awarded the “Overseas Outstanding Youth” by the Chinese Academy of Sciences in 2011. In China, Dr Yu is actively involved in a multitude of government and non-governmental organizations. He is a member of the National Thousand Talent Plan, and also served as an Economic Adviser to the Tianjin City Government. Dr. Yu has published extensively and holds three US patents. He received his Bachelor of Science in Space Physics from Wuhan University, Master of Science in Physics from Cornell University and Ph. D. in Managerial Economics and Decision Sciences from the Wharton School at the University of Pennsylvania. ABOUT THE SPEAKERS Zhang Xinsheng President, China Education Association for International Exchange President, International Union for Conservation of Nature Executive Chairman, Eco-Forum Global Former Chairman, Executive Board of United Nations Educational Scientific and Cultural Organization (UNESCO) Zhang Xinsheng is the President of the China Education Association for International Exchange, President of the International Union for Conservation of Nature (IUCN), Executive Chairman of the Eco-Forum Global (EFG), Vice-President of the International University Sports Federation (FISU), and President of the Asian University Sports Federation (AUSF). He was previously the Vice-Minister of Education of the People’s Republic of China (2000-2009), Mayor of Suzhou (1989-1997), Chairman of the Executive Board of UNESCO (2005-2007), Chairman of the World Heritage Committee (2003- 2004) and Vice-President of the Chinese Olympic Committee. Mr. Zhang serves on many boards and advisory committees including the China Council for International Cooperation on Environment and Development, the Counsellors’ Office of the State Council of China, the Foreign Policy Advisory Committee of Ministry of Foreign Affairs of China, the China-Japan Friendship Committee for the 21st Century, the Governing Board of International Institute for Education Planning of UNESCO, UNESCO Global 10 Experts Advisory Committee, Global Agenda Council on Future of Universities of the World Economic Forum. He is a graduate of the China Military Institute of Technology and Zhejiang University. In 1980, he was selected by the Chinese Government as a visiting scholar to the US. In 1998, he received his Master’s degree in urban planning (with distinction) from Harvard University Graduate School of Design. He also completed the Advanced Management Program at Harvard Business School (HBS) and was a HBS’ Visiting Research Fellow. He has also been awarded Doctorates honoris causa by universities in Australia, Japan and Russia. Moderator Bettina Wassener Independent Writer and Analyst Former Asian Economics Correspondent, International New York Times Bettina Wassener has covered business, markets, economic and security issues at some of the world’s most influential and respected print, online, newswire and television organizations, and as an analyst at a political risk consultancy. Over the course of more than two decades at the Financial Times, BusinessWeek, CNBC, and most recently as Asia Economics Correspondent for the the International New York Times, she has covered financial crises, mega-mergers, stock market listings, the dotcom bubble and various elections. She has written about the economic implications of pollution, climate change and Asia’s fast-changing demographics. She has also interviewed chief executives, academics, textile workers, fishermen and Elvis impersonators. A graduate of the London School of Economics, she has lived in half a dozen countries, and has been based in Hong Kong since just after the collapse of Lehman Brothers in 2008. She is currently taking several months off for various publishing projects, and to improve her Mandarin..
Load more

Recommended publications
  • Hong Kong SAR
    China Data Supplement November 2006 J People’s Republic of China J Hong Kong SAR J Macau SAR J Taiwan ISSN 0943-7533 China aktuell Data Supplement – PRC, Hong Kong SAR, Macau SAR, Taiwan 1 Contents The Main National Leadership of the PRC 2 LIU Jen-Kai The Main Provincial Leadership of the PRC 30 LIU Jen-Kai Data on Changes in PRC Main Leadership 37 LIU Jen-Kai PRC Agreements with Foreign Countries 47 LIU Jen-Kai PRC Laws and Regulations 50 LIU Jen-Kai Hong Kong SAR 54 Political, Social and Economic Data LIU Jen-Kai Macau SAR 61 Political, Social and Economic Data LIU Jen-Kai Taiwan 65 Political, Social and Economic Data LIU Jen-Kai ISSN 0943-7533 All information given here is derived from generally accessible sources. Publisher/Distributor: GIGA Institute of Asian Affairs Rothenbaumchaussee 32 20148 Hamburg Germany Phone: +49 (0 40) 42 88 74-0 Fax: +49 (040) 4107945 2 November 2006 The Main National Leadership of the PRC LIU Jen-Kai Abbreviations and Explanatory Notes CCP CC Chinese Communist Party Central Committee CCa Central Committee, alternate member CCm Central Committee, member CCSm Central Committee Secretariat, member PBa Politburo, alternate member PBm Politburo, member Cdr. Commander Chp. Chairperson CPPCC Chinese People’s Political Consultative Conference CYL Communist Youth League Dep. P.C. Deputy Political Commissar Dir. Director exec. executive f female Gen.Man. General Manager Gen.Sec. General Secretary Hon.Chp. Honorary Chairperson H.V.-Chp. Honorary Vice-Chairperson MPC Municipal People’s Congress NPC National People’s Congress PCC Political Consultative Conference PLA People’s Liberation Army Pol.Com.
    [Show full text]
  • From Asian to Global Financial Crisis
    This page intentionally left blank FROM ASIAN TO GLOBAL FINANCIAL CRISIS This is a unique insider account of the new world of unfettered finance. The author, an Asian regulator, examines how old mindsets, market fundamental- ism, loose monetary policy, carry trade, lax supervision, greed, cronyism, and financial engineering caused both the Asian crisis of the late 1990s and the cur- rent global crisis of 2007–2009. This book shows how the Japanese zero inter- est rate policy to fight deflation helped create the carry trade that generated bubbles in Asia whose effects brought Asian economies down. The study’s main purpose is to demonstrate that global finance is so interlinked and interactive that our current tools and institutional structure to deal with critical episodes are completely outdated. The book explains how current financial policies and regulation failed to deal with a global bubble and makes recommendations on what must change. Andrew Sheng is currently the Chief Adviser to the China Banking Regulatory Commission and a Board Member of the Qatar Financial Centre Regulatory Authority, Khazanah Nasional Berhad and Sime Darby Berhad, Malaysia. He is also Adjunct Professor at the Graduate School of Economics and Management, Tsinghua University, Beijing, and at the Faculty of Economics and Administration at the University of Malaya, Kuala Lumpur. Mr Sheng was Chairman of the Securities and Futures Commission of Hong Kong from 1998 to 2005. A former central banker with Bank Negara Malaysia and Hong Kong Monetary Authority, between 2003 and 2005 he was Chairman of the Technical Committee of IOSCO, the International Organization of Securities Commissions, the standard setter for securities regulation.
    [Show full text]
  • Who We Are and What We Do
    Who We Are and What We Do The Securities and Futures Commission (SFC) is an independent statutory body established by the Securities and Futures Commission Ordinance (SFCO). The SFCO and nine other securities and futures related ordinances were consolidated into the Securities and Futures Ordinance (SFO), which came into operation on 1 April 2003. We are responsible for administering the laws governing the securities and futures markets in Hong Kong and facilitating and encouraging the development of these markets. Our statutory regulatory objectives as set out in the SFO are: >> to maintain and promote the fairness, >> to minimise crime and misconduct in the efficiency, competitiveness, securities and futures industry; transparency and orderliness of the >> to reduce systemic risks in the securities securities and futures industry; and futures industry; and >> to promote understanding by the >> to assist the Financial Secretary in public of the operation and maintaining the financial stability of functioning of the securities and Hong Kong by taking appropriate steps in futures industry; relation to the securities and futures >> to provide protection for members of industry. the public investing in or holding financial products; In carrying out our mission, we aim to ensure Hong Kong’s continued success and development as an international financial centre. The SFC is divided into four operational divisions: Corporate Finance, Intermediaries and Investment Products, Enforcement, and Supervision of Markets. The Commission is supported by
    [Show full text]
  • Monster Typhoon on Way Will Inevitably Be Involved in Stoopman Said
    4 Friday, July 8, 2016 Precipitation brought by the typhoon will definitely take the lake to a more dangerous level.” Zhang Tao, chief forecaster at the National Meteorological Center, CHINA speaking of Taihu Lake near Shanghai CHINA DAILY » CHINADAILY.COM.CN/NATION DEVELOPMENT STORMS COURTS Tibetan culture, Greek firm told to pay education thriving for Chinese By WANG XIAODONG medical and astrological in Lhasa school — plus around 20 sec­ salvage work wangxiaodong@chinadai­ ular private schools and no ly.com.cn public schools, he said. By the end of last year, the By CAO YIN Modernization of the number of various types of [email protected] Tibet autonomous region schools and colleges in Tibet will contribute to the protec­ exceeded 1,500, and the pri­ China’s top court ordered a tion of traditional Tibetan mary­school enrollment rate Greek company to pay a Chi­ culture, experts said at a con­ reached nearly 99 percent, nese transport authority 6.59 ference on Tibet’s develop­ according to the regional million yuan ($985,000) on ment in Lhasa on Thursday. government. Thursday for breaching a sal­ More than 130 scholars, The central government vage agreement, overturning officials and correspondents has made significant efforts the original ruling. from more than 30 countries over the past decades to help Archangelos Investment and regions were in attend­ preserve and modernize tra­ E.N.E, the Greek corporation, ance at the 2016 Forum on ditional Tibetan culture, had agreed that the Nanhai the Development of Tibet, including improving educa­ Rescue Bureau of the Ministry hosted by the State Council tion and research in Tibetol­ of Transport would salvage its Information Office and the ogy, Zheng said.
    [Show full text]
  • China June 2013.Cdr
    VOL. XXV No. 6 June 2013 Rs. 10.00 Chinese President Xi Jinping met with U.S. President Barack Obama at the Annenberg Retreat, California, the United States on June 7, 2013. Chinese Vice President Li Yuanchao, who is also a member of the Chinese Film Festival was held from June 18 to 23, 2013 at Siri Political Bureau of the Communist Party of China Central Fort Auditorium, New Delhi. Mr. Cai Fuchao, Director of Chinese Committee, met with Prakash Karat, General Secretary of State General Administration of Press, Publication, Radio, Film Communist Party of India (Marxist) in Beijing, China on June 19, and Television, Mr. Manish Tewari, Minister of Information and 2013. Broadcasting, Government of India, Chinese Ambassador Mr. Wei Wei, and Mr. Jackie Chan, legendary Chinese actor attended the inaugural ceremony and screening of film Chinese Zodiac on June 18. Lamp lighting ceremony was held at the Chinese Film Festival on Mr. Jackie Chan sang the song Country at the Inaugural June 18. Ceremony of Chinese Film Festival at Siri Fort Auditorium, New Delhi on June 18. Chinese Ambassador Wei Wei met with Rahul Gandhi, Vice Mr. Zhou Huaiyang, Professor of the School of Marine and Earth President of the Indian National Congress Party at Rahul’s office Science at Tongji University, waved as he came out of the on May 7, 2013. They expressed their willingness to further Jiaolong manned deep-sea submersible after a deep-sea dive into promote cooperation between the two countries. the South China Sea on June 18, 2013. The Jiaolong manned deep-sea submersible carried him as crew member during a deep-sea dive.
    [Show full text]
  • Journal of Current Chinese Affairs
    China Data Supplement May 2007 J People’s Republic of China J Hong Kong SAR J Macau SAR J Taiwan ISSN 0943-7533 China aktuell Data Supplement – PRC, Hong Kong SAR, Macau SAR, Taiwan 1 Contents The Main National Leadership of the PRC .......................................................................... 2 LIU Jen-Kai The Main Provincial Leadership of the PRC ..................................................................... 30 LIU Jen-Kai Data on Changes in PRC Main Leadership ...................................................................... 37 LIU Jen-Kai PRC Agreements with Foreign Countries ......................................................................... 42 LIU Jen-Kai PRC Laws and Regulations .............................................................................................. 44 LIU Jen-Kai Hong Kong SAR ................................................................................................................ 45 LIU Jen-Kai Macau SAR ....................................................................................................................... 52 LIU Jen-Kai Taiwan .............................................................................................................................. 56 LIU Jen-Kai ISSN 0943-7533 All information given here is derived from generally accessible sources. Publisher/Distributor: GIGA Institute of Asian Studies Rothenbaumchaussee 32 20148 Hamburg Germany Phone: +49 (0 40) 42 88 74-0 Fax: +49 (040) 4107945 2 May 2007 The Main National Leadership of the PRC
    [Show full text]
  • Introduction
    Joint Center for Housing Studies Harvard University Housing and Economic Development in Suzhou, China: A New Approach to Deal with the Inseparable Issues ZhuXiaoDi,HuangLei,andZhangXinsheng W00-4 July 2000 Zhu Xiao Di is a research analyst at the Joint Center for Housing Studies; Huang Lei is a doctor of design candidate at the Harvard Design School; and Zhang Xinsheng is a visiting research fellow at the Harvard Business School. by Zhu Xiao Di, Huang Lei and Zhang Xinsheng. All rights reserved. Short sections of text, not to exceed two paragraphs, may be quoted without explicit permission provided that full credit, including notice, is given to the source. Any opinions expressed are those of the authors and not those of the Joint Center for Housing Studies of Harvard University or of any of the persons or organizations providing support to the Joint Center for Housing Studies. The authors are grateful to have received grammatical assistance from Bulbul Kaul at the Joint Center for Housing Studies, as none of the authors are native English speakers. Housing and Economic Development in Suzhou, China: A New Approach to Deal with the Inseparable Issues ZhuXiaoDi,HuangLei,andZhangXinsheng Joint Center for Housing Studies W00-4 July 2000 Abstract This is a case study of Suzhou, China, an ancient city of over two thousand years that upgraded itself during the 1990s from a medium-sized city to fifth in China, ranked according to GDP. At the beginning of the decade, the city faced a macroeconomic contraction in the nation, a questionable or unsustainable local economic development model, an enormous task of preserving historical sites, and the pressure of improving the living standards of its residents, which included changing their meager housing conditions.
    [Show full text]
  • Central Banks Can and Should Do Their Part in Funding Sustainability Andrew Sheng
    FIXING CLIMATE GOVERNANCE SERIES PAPER NO. 1 — JUNE 2015 CENTRAL BANKS CAN AND SHOULD DO THEIR PART IN FUNDING SUSTAINABILITY ANDREW SHENG CENTRAL BANKS CAN AND SHOULD DO THEIR PART IN FUNDING SUSTAINABILITY Andrew Sheng Copyright © 2015 by the Centre for International Governance Innovation The opinions expressed in this publication are those of the author and do not necessarily reflect the views of the Centre for International Governance Innovation or its Board of Directors. This work is licensed under a Creative Commons Attribution — Non-commercial — No Derivatives License. To view this license, visit (www.creativecommons.org/ licenses/by-nc-nd/3.0/). For re-use or distribution, please include this copyright notice. 67 Erb Street West Waterloo, Ontario N2L 6C2 Canada tel +1 519 885 2444 fax +1 519 885 5450 www.cigionline.org TABLE OF CONTENTS iv About the Fixing Climate Governance Project iv About the Author 1 Acronyms 1 Executive Summary 1 Introduction 2 The Potential Supply of Investments Is Sufficient to Meet the Demand 3 Central Banks Can Hold Diverse Types of Assets 4 Central Banks Should Factor Social Objectives into Their Investment Decisions 7 Concluding Observations 8 Acknowledgements 9 Works Cited 12 About CIGI 12 CIGI Masthead FIXING Climate GOVERNANCE SERIES paper NO. 1 — JUNE 2015 ABOUT THE FIXING CLIMATE ABOUT THE AUTHOR GOVERNANCE PROJECT Project Leaders: John Odell, CIGI Senior Fellow and David Runnalls, CIGI Distinguished Fellow Climate scientists agree that human activity has been changing our planet’s climate over the long term. Without serious policy changes, scientists expect devastating consequences in many regions: inundation of coastal cities; greater risks to food production and, hence, malnutrition; unprecedented heat waves; greater risk of high- intensity cyclones; many climate refugees; and irreversible loss of biodiversity.
    [Show full text]
  • Asia and the Global Financial Crisis: Conference Volume
    ASIA AND THE GLOBAL FINANCIAL CRISIS Asia Economic Policy Conference Sponsored by the Federal Reserve Bank of San Francisco ASIA AND THE GLOBAL FINANCIAL CRISIS Edited by Reuven Glick Mark M. Spiegel Asia Economic Policy Conference Sponsored by the Federal Reserve Bank of San Francisco Santa Barbara, California October 19–20, 2009 The articles in this publication can be obtained in electronic form from the Federal Reserve Bank of San Francisco’s website: http://www.frbsf.org/economics/conferences/aepc/2009/agenda.php Contents Foreword . 1 Janet L. Yellen, President and CEO, Federal Reserve Bank of San Francisco Conference Summary . 3 Reuven Glick, Group Vice President, Federal Reserve Bank of San Francisco Mark M. Spiegel, Vice President, Federal Reserve Bank of San Francisco Welcome Address . 11 Asia and the Global Financial Crisis Ben S. Bernanke, Chairman, Board of Governors of the Federal Reserve System General Discussion . 23 The Impact of the Financial Crisis on Emerging Asia . 27 Morris Goldstein, Dennis Weatherstone Senior Fellow, Peterson Institute for International Economics Daniel Xie, Research Assistant, Peterson Institute for International Economics commentary . 81 Michael Mussa, Senior Fellow, Peterson Institute for International Economics General Discussion . 85 Lessons from Asian Financial Experience . 93 Anne O. Krueger, Professor of International Economics, Paul H. Nitze School of Advanced International Studies, Johns Hopkins University commentary . 115 Andrew Sheng, Chief Adviser, China Banking Regulatory Commission General Discussion . 123 Global Imbalances and the Financial Crisis: Products of Common Causes . 131 Maurice Obstfeld, Class of 1958 Professor of Economics, University of California, Berkeley Kenneth Rogoff, Professor of Economics and Thomas D. Cabot Professor of Public Policy, Harvard University commentary .
    [Show full text]
  • From East Lynne to Konggu Lan: Transcultural Tour, Trans-Medial Translation
    48 From East Lynne to Konggu Lan From East Lynne to Konggu Lan: Transcultural Tour, Trans-Medial Translation Xuelei Huang, Ruprecht-Karls-Universität Heidelberg Whatever our ignorance of the language and the culture of the people where it originated, a myth is still felt as a myth by any reader anywhere in the world. Its substance does not lie in its style, its original music, or its syntax, but in the story which it tells. Claude Lévi-Strauss, “The Structural Study of Myth” In 1862, the University of Oxford’s 47-year-old Professor of Ecclesiastical History, Arthur Penrhyn Stanley, accompanied the 20-year-old Edward, Prince of Wales, on a trip to Egypt.1 The professor, who showed “insatiable appetite for every detail of historical or sacred associations,” was apparently not an enjoyable companion in the young prince’s eyes. Their interests differed tremendously in all but one thing: East Lynne, a best-selling novel from 1861. It was such an engrossing read for them both that Professor Stanley even put a question relating to the novel to examine the prince and his friends: “With whom did Lady Isabel dine on the fatal night?”2 The story’s transcultural travels and trans-medial translations, the focus of investigation of this essay, would bring it to an equally enthusiastic audience far from its birthplace, Victorian Britain. In February and March 1926, a Chinese-made silent film entitled Konggu lan 空谷蘭 (Orchid in the Empty Valley) caused a sensation and showed to full houses for weeks in Shanghai and other cities in China and Southeast Asia.3 The film was an offspring of the novel, 1 I would like to thank the following scholars for their thoughtful comments: Sandra Annett, Cheng Wen-huei, Monica Juneja, Andrea Hacker, Irmela Hijiya-Kirschnereit, Barbara Mittler, Rudolf Wagner, and two anonymous reviewers.
    [Show full text]
  • Strengthening the Banking System in China: Issues and Experience
    BIS BIS POLICY PAPERS No. 7 – October 1999 STRENGTHENING THE BANKING SYSTEM IN CHINA: ISSUES AND EXPERIENCE A joint BIS/PBC conference held in Beijing, China, 1–2 March 1999 BANK FOR INTERNATIONAL SETTLEMENTS Monetary and Economic Department Basel, Switzerland ISSN 1027-6297 POLICY PAPERS No. 7 BIS Policy Papers are based on papers prepared for meetings sponsored or co-sponsored by the BIS. They are published by the Bank with the aim of stimulating discussion of the topics with which they deal. The views expressed in this paper are those of their authors and not necessarily the views of the BIS, the People’s Bank of China or any other institution represented. Copies of publications are available from: Bank for International Settlements Information, Press & Library Services CH-4002 Basel, Switzerland Fax: +41 61 / 280 91 00 and +41 61 / 280 81 00 © Bank for International Settlements 1999. All rights reserved. Brief excerpts may be reproduced or translated provided the source is stated. ISSN 1027-6297 Also published in Chinese. Available in English on the BIS website (www.bis.org). BIS POLICY PAPERS No. 7 – October 1999 STRENGTHENING THE BANKING SYSTEM IN CHINA: ISSUES AND EXPERIENCE A joint BIS/PBC conference held in Beijing, China, 1–2 March 1999 BANK FOR INTERNATIONAL SETTLEMENTS Monetary and Economic Department Basel, Switzerland Table of contents Page PREFACE . 1 PARTICIPANTS IN THE MEETING . 7 OPENING ADDRESS Dai Xianglong . 11 THE MACROECONOMIC CONTEXT The challenge of bank restructuring in China Nicholas R Lardy . 17 Heading off China’s financial crisis Rudi Dornbusch and Francesco Giavazzi .
    [Show full text]
  • Andrew Sheng Transcript
    THE BROOKINGS INSTITUTION Brookings - Tsinghua Center for Public Policy (BTC) Andrew Sheng Presentation Transcript Andrew Sheng: From 1993 to Sept 98 I was deputy chief executive of the Hong Kong monetary authority. I was in charge of the reserves. In the earlier phase I was in charge of the Hong Kong Dollar, and I then was also in charge of […] which meant that I was the major interface with the regional central banks of trying to maintain regional currency stability. The timeline for the Asian crisis is very important. Because if you really look at it, all of it could go back to ‘85, when because of the Japan-US trade imbalance, very much similar to what is happening now, the Americans put pressure on Japan to revalue the yen. And the yen was revalued from 240 to 120. But once the yen gets revalued, as you know, Japan had no exchange control. There was a massive stock market and property bubble. And the Japanese market peaked in December 1989, when the Nikkei index reached 39,400. What is the Nikkei today? 10000. What was it at its lowest point? 6008. So, the Japanese stock market never recovered from its bubble. Now in 1994 there was a Mexican crisis. Mexico was overvalued, had far too much in terms of, what is called the “peso bono,” which is basically the treasury bills in Mexico, and then the US had to lend a large amount of money to rescue Mexico. Then in 1995, the yen went all the way from 240 in 85 to 80.
    [Show full text]