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Hong Kong Institute for Monetary Research

Second Annual International Conference on the Chinese Economy "Macroeconomic Management in China: Monetary and Financial Stability Issues"

13 January 2011 (Thursday)



Thursday, 13 January
8:30 - 9:00 Registration and Coffee
9:00 - 9:10 Opening Remarks by Dong He (Executive Director (Research) of Hong Kong Monetary Authority and Director of Hong Kong Institute for Monetary Research)
9:10 – 10:00 Accounting for Rising Wages in China
by Dennis Tao Yang (The Chinese University of Hong Kong)

Discussant: Wing Suen (University of Hong Kong)

10:00 – 10:20 Coffee Break
10:20 – 11:10 What Drives China’s Food-Price Inflation and How does It Affect the Aggregate Inflation?
by Wenlang Zhang (Hong Kong Monetary Authority)

Discussant: Murtaza Husain Syed (International Monetary Fund)

11:10 – 12:00 The Implementation of Monetary Policy in China
by Qianying Chen (Hong Kong Institute for Monetary Research)

Discussant: David Cook (Hong Kong University of Science and Technology)

12:00 – 13:30 Lunch
13:30 – 14:20 China’s Monetary Policy: Do Money Markets Listen to the PBoC?
by Eric Girardin (GREQAM and the University of Aix-Marseille II)

Discussant: Haibin Zhu (Bank for International Settlements)

14:20 – 15:10 Evaluating Conditions in Major Chinese Housing Markets
by Yongheng Deng (National University of Singapore)

Discussant: Charles Ka Yui Leung (City University of Hong Kong)

15:10 – 15:30 Coffee Break
15:30 – 16:20 Are House Prices Rising Too Fast in China?
by Lillian Cheung (Hong Kong Monetary Authority)

Discussant: Yongheng Deng (National University of Singapore)

16:20 – 17:10 If You Try, You’ll Get By: Chinese Private Firms’ Efficiency Gains from Overcoming Financial Constraints
by Galina Hale (Federal Reserve Bank of San Francisco)

Discussant: Louis Kuijs (World Bank)

Friday, 14 January
8:30 – 9:00 Registration and Coffee
9:00 – 9:50 What drives China’s Current Account?
by Mathias Hoffmann (University of Zurich)

Discussant: Danyang Xie (Hong Kong University of Science and Technology)

9:50 – 10:40 Demographic Patterns and Savings in China
by Nelson Mark (University of Notre Dame and NBER)

Discussant: Guonan Ma (Bank for International Settlements)

10:40 - 11:00 Coffee Break
11:00 – 11:50 The Chinese Export Boom: Industrial Policy and the Fate of US Manufacturing
by Brett Berger (Federal Reserve Board)

Discussant: Cui Li (Hong Kong Monetary Authority)

11:50 – 12:40 Asian Business Cycle Synchronisation
by Carol Wei Liao (Hong Kong Institute for Monetary Research)

Discussant: Mathias Hoffmann (University of Zurich)

12:40 – 14:30 Luncheon speech - "Internationalisation of the Renminbi"
by Robert N. McCauley (Bank for International Settlements)

14:30 – 16:00 Panel discussion
Louis Kuijs (World Bank)

Murtaza Husain Syed (International Monetary Fund)



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