Globalization of financial services in China (Handouts)

Globalization of financial services in China:
implications for capital flows, supervision and monetary policy

Saturday, 19 March 2005


Beijing, China

Jointly Organised

by

Bank for International Settlements (BIS)
Research Institute of Economy, Trade, and Industry (RIETI)
Bank of China (Bank of China)

  • Welcome Dinner (19:00 - 20:30 PM, Friday, 18 March 2005), at the Bank of China Headquarters
  • Conference (Saturday, 19 March 2005)

Program & Handouts

Opening Remarks (08:30-09:00):
Robert SLEEPER (Head of Banking Department, BIS)
Handout [PDF:40KB]
Morning Session:
Globalisation of Financial Services and Domestic Financial Liberalization: Implications for China's Banking Sector
(Chaired by Gerard DAGES, Vice President, Federal Reserve Bank of New York)
Presentation 1 (09:00-09:30):
"Impact of Financial Services Trade Liberalization on Bank Flows to Developing Economies: Implication for China"
Li-Gang LIU (Senior Fellow, RIETI)
Handout 1 [PDF:160KB] / Handout 2 [PDF:268KB]
Discussant (09:30-09:45):
Kasamichi KONO (Director, General Coordination Division, Financial Services Agency)
Handout [PDF:24KB]
Presentation 2 (9:45-10:15):
"Domestic Financial Liberalization, Foreign Bank Behaviour, and Challenges to Bank Regulation: The Experiences of Korea"
Hyun Eui Kim (Deputy Director, Head of Finance Studies Team, Institute for Monetary & Economic Research)
Handout 1 [PDF:248KB] / Handout 2 [PDF:320KB]
Discussant (10:15-10:30):
Gerard DAGES (Vice President, Federal Reserve Bank of New York)
Presentation 3 (10:40-11:10):
"Cross-Border Supervision--Past, Present, and the Future"
Karl CORDEWENER (Deputy Secretary General, BCBS, BIS)
Handout [PDF:80KB]
Discussant (11:10-11:25):
Takatoshi ITO (Professor, University of Tokyo / Faculty Fellow, RIETI)
Q&A Session: 11:25-11:50
Lunch: 12:00 to 13:15
Lunch Speech:
"China's Banking Sector Reform Strategy: From Market Opening to Ownership Diversification"
ZHU Min (Assistant Executive President, Bank of China)
(Moderated by Eli Remolona, Deputy Chief Representative, Representative Office for Asia and the Pacific, BIS)
Afternoon Session:
Implications for Capital Controls, Market Institutions, and Monetary Policy
(Chaired by Shinichi YOSHIKUNI, Chief Representative, Representative Office for Asia and the Pacific, BIS)
Presentation 4 (13:30-14:20):
"What Should Be the Appropriate Monetary Targets for China in the context of the Mundell Trilemma?
Takatoshi ITO (Professor, University of Tokyo / Faculty Fellow, RIETI)
Eiji Ogawa (Professor, Hitotsubashi University / Faculty Fellow, RIETI)
Handout [PDF:364KB]
Discussant (14:20-14:50):
Frank GONG (Managing Director, JP Morgan Securities (Asia Pacific) Limited)
Yuanlong WANG(Senior Economist, Bank of China)
Presentation 5 (14:50-15:20):
"Efficacy of Capital Controls and Implications for Financial Markets in China"
Guonan MA (Senior Economist, Representative Office for Asia and the Pacific, BIS)
Handout 1 [PDF:112KB] / Handout 2 [PDF:184KB]
Discussant (15:20-15:35):
Ray Brook (Resident Representative, International Monetary Fund)
Coffee Break: 15:35-15:50
Presentation 6 (15:50-16:20):
"Capital Controls and Interest Rate Parity in China: Some Empirical Evidences"
Ichiro OTANI (Economic Policy Consultant, Otani Economic Policy Consultancy)
Handout [PDF:148KB] / Handout [PDF:344KB]
Discussant (16:20-16:35):
ZHANG Tao (Deputy Director General, People's Bank of China)
Panel Discussion (16:35-17:40):
Summary
Foreign Bank Presence, Capital Controls, and Monetary Policy
(Chaired by Masaru YOSHITOMI, President and Chief Research Officer, RIETI )
Panellists:
ZHU Min (Assistant Executive President, Bank of China)
Takatoshi ITO (Professor, University of Tokyo / Faculty Fellow, RIETI)
Akinari HORII (Director General, International Department, Bank of Japan)
Eli Remolona (Deputy Chief Representative, Representative Office for Asia and the Pacific, BIS)
Frank Gong (Managing Director, JP Morgan Securities (Asia Pacific) Limited)
Jonathan Anderson (Managing Director, Head of Asia Pacific Economics, UBS)
Q&A Session: 17:40-18:00
Dinner: 18:15-20:00
Dinner Speech and closing remarks: