Thursday, 6th May 2010, Westin Beijing

8.10 Morning registration
8.50 Chairman’s welcome remarks

I. Global recovery and China’s economy

9.00 KEYNOTE ADDRESS: The State Administration of Foreign Exchange’s supervisory directions amid an economic recovery

Xiaoyi Wang, Deputy Governor, STATE ADMINISTRATION OF FOREIGN EXCHANGE

EXECUTIVE ADDRESS: A rethink of risk management – a global perspective
• Managing risks in uncertain market conditions and global economic recovery
• The lessons learned from developing and using complex financial instruments
• The role of sophisticated modeling and techniques in risk management
• Predicting and identifying key financial risks going forward

Knut N. Kjaer, President, RISKMETRICS GROUP, Former Chief Executive Officer, NORGES BANK INVESTMENT MANAGEMENT and Member, International Advisory Board, CHINA INVESTMENT CORPORATION (CIC)

10.00 PANEL DISCUSSION: Energy, gold and commodities and the global economy

  • Demand and supply of energy, gold and commodities and price forecasts
  • The concept of energy and gold becoming a currency – what are the implications to the economy?
  • The relationship between energy, gold and the USD
  • Consequences of price volatilities of the 3 asset classes to currencies

Moderator: Song Yuqin, Vice President, SHANGHAI GOLD EXCHANGE (SGE)
Han Liyan, Dean, Finance Department, Economics and Management School, BEIHANG UNIVERSITY
Tan Yaling, Standing Executive Committee Member, CHINA INTERNATIONAL ECONOMIC RELATIONS SOCIETY and President, CHINA FOREX INVESTMENT RESEARCH INSTITUTE
Chang Qing, Director, Center for Futures and Financial Derivatives Research, CHINA AGRICULTURAL UNIVERSITY
George Milling-Stanley, Managing Director, WORLD GOLD COUNCIL

10.50 Morning break

11.10 SOLO PRESENTATION: The driving forces behind G7 and emerging market currencies

  • USD vs. RMB – the struggle continued
  • China’s future currency policy and implications to other currencies
  • Forecasting G7 currency movements:
  • Opportunities in emerging market currencies

Blair Reid, Executive Director, Global Fixed Income and Currency Management, GOLDMAN SACHS ASSET MANAGEMENT

11.40 PANEL DISCUSSION: The future of RMB as a international settlement currency

  • Latest developments in the RMB settlement pilot study: coverage, market responses and volume
  • Assessing the true benefits for corporates in Mainland China and Hong Kong
  • Quantifying the business opportunities it poses for banks
  • The establishment of infrastructure to support a full-fledged implementation
  • Can RMB become a true international currency?

Moderator: Dr. Hai Xin, Managing Director , Head of Asia Pacific, OVERLAY ASSET MANAGEMENT
Lian Pin, Chief Economist, BANK OF COMMUNICATIONS
Olivier Desbarres, Director, Asia FX Strategy, CREDIT SUISSE
Kim Eng Tan, Director, Sovereign & International Public Finance Ratings, STANDARD & POOR’S
Ding Zhijie, Deputy President, School of Banking and Finance, THE UNIVERSITY OF INTERNATIONAL BUSINESS & ECONOMICS

12.30 Lunch

II. FX innovation and supervision

13.50 Special address: China RMB trade settlement and FX innovation

Ryan Song, Managing Director, Deputy Head of Global Markets, HSBC (CHINA)

14.20 PANEL DISCUSSION: Taking advantage of new trading technology to maximise profits and reduce risks

  • Best practices in the execution of FX option trading in light of the growing volume
  • Criterion for a bank to choose the right trading platform to fulfill its trading needs
  • Streamlining operational procedures on trading, clearing and settlements to mitigate counterparty risks
  • Integrating data analysis, trading execution and settlement to achieve desirable trading results

KC Lam, Head of FX Sales, Asia Pacific, CHICAGO MERCANTILE EXCHANGE
Jeff Ward, Regional Manager, - Asia & Oceania, ICAP ELECTRONIC BROKING
Sun Wei, Assistant General Manager, Capital Markets, CITIC BANK CHINA

*Further panelists to be advised

15.10 Afternoon break

15.30 KEYNOTE ADDRESS: Global and China’s supervisory directions over financial innovation

Yin Long, Deputy Director-General, Supervisory Cooperation Department, Banking Innovation, CHINA BANKING REGULATORY COMMISSION

16.00 SOLO PRESENTATION: Asset allocation strategies with FX in institutional investors’ portfolios

  • How has FX performed against other asset classes after the crisis?
  • Determining the optimal allocation to FX in a portfolio according to your investment goals
  • Understanding cross-asset class correlation

Larry Zhang, Senior Adviser, Global Investments, NATIONAL COUNCIL FOR SOCIAL SECURITY FUND CHINA, Founder & CEO, CHINA NEO-CAPITAL MANAGEMENT

16.30 PANEL DISCUSSION: Utilising FX derivatives under tightened control and growing hedging needs

  • Differentiating between hedging and speculating
  • Proper management of the use of derivatives
  • Considerations when using derivative provided by international banks vs. Chinese banks
  • Best practices in managing risks in complex products
  • The decision between exchange traded vs. OTC derivatives

Moderator: Georgina Lee, Senior Writer, ASIA RISK
Eddie Wang, Head of FX Structuring, Asia, CALYON
Yang Zaiping, Executive Vice President, CHINA BANKING ASSOCIATION
Keith Noyes, Regional Director, Asia Pacific, INTERNATIONAL SWAPS AND DERIVATIVES ASSOCIATION (ISDA)
Zhang Hong, General Manager, Finance Department, SHELL (CHINA)
17.30 Chairman’s closing remarks

17.35 End of conference & cocktail reception

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