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Hong Kong Institute for Monetary Research

Fourth Annual International Conference on the Chinese Economy

“The Role of Financial System Reforms in Rebalancing the Chinese Economy”

10 January 2013 (Thursday) - 11 January 2013 (Friday)

Harbour Room, 56/F, Two International Finance Centre, 8 Finance Street, Central


Programme


10 January 2013 Thursday
8:45 - 9:15 Registration and Coffee

9:15 - 9:30 Opening Remarks
Dong He (Executive Director (Research) of Hong Kong Monetary Authority and Director of Hong Kong Institute for Monetary Research)

9:30 – 10:20 Keynote Speech : Understanding China's Growth: Past, Present, and Future
Xiaodong Zhu (University of Toronto)

Session 1 Chair: Edward Chen (The University of Hong Kong)
10:20 – 11:10 Political Influence and Incentive: The Lending Behavior of a State-owned Bank in the Global Financial Crisis
Chun-Yu Ho (Shanghai Jiao Tong University)
Dan Li* (Fudan University)
Suhua Tian (Fudan University)

Discussant: Dragon Tang (The University of Hong Kong)

11:10 – 11:40 Coffee Break

11:40 – 12:30 China's Secondary Privatization: Perspectives from the Split-Share Structure Reform
Li Liao (Tsinghua University)
Bibo Liu (Tsinghua University)
Hao Wang* (Tsinghua University)

Discussant: Chu Zhang (The Hong Kong University of Science and Technology)

12:30 - 13:20 De-monopolization Toward Long-Term Prosperity in China
Ashvin Ahuja* (International Monetary Fund)

Discussant: Chong Kee Yip (The Chinese University of Hong Kong)

13:20 – 14:30 Lunch (By invitation only)

Session 2 Chair: David Cook (The Hong Kong University of Science and Technology)
14:30 – 15:20 Financial System Reforms and China’s Monetary Policy Framework: A DSGE-Based Assessment of Initiatives and Proposals
Michael Funke* (Hamburg University)
Michael Paetz (Hamburg University)

Discussant: Paul SK Luk (HKIMR)

15:20 – 16:10 Monetary Policy and Bank Lending in China--Evidence from Loan Level Data
Dong He (Hong Kong Monetary Authority / HKIMR)
Honglin Wang* (HKIMR)

Discussant: André Meier (International Monetary Fund)
16:10 – 16:40 Coffee Break

16:40 – 17:30 Monetary Policy in a DSGE Model with “Chinese Characteristics”
Mark M. Spiegel* (Federal Reserve Bank of San Francisco)
Chun Chang (Shanghai Advanced Institute of Finance)
Zheng Liu (Federal Reserve Bank of San Francisco)

Discussant: Jenny Xu (The Hong Kong University of Science and Technology)

18:30 – 20:30 Conference Dinner (By invitation only)

11 January 2013 Friday
8:45 – 9:15 Registration and Coffee

Session 3 Chair: Yin-Wong Cheung (City University of Hong Kong)
9:15 – 10:05 Monetary Policy, Credit Constraints, and Firm Exports: Evidence from China
Shu Lin* (Fudan University)
Jiandong Ju (Tsinghua University and University of Oklahoma)
Shang-Jin Wei (Columbia University)

Discussant: Chang Shu (Bank for International Settlements)

10:05 – 10:55 The Potential of the RMB to be a Major Invoicing Currency in the Asia-Pacific Region
Edwin Lai* (The Hong Kong University of Science and Technology)
Jing Zhou (The Hong Kong University of Science and Technology)

Discussant: Charles Yu (HKIMR)

10:55 – 11:30 Coffee Break

11:30 – 12:20 A Provincial View of Global Imbalances: Regional External Adjustment in China
Mathias Hoffmann* (University of Zurich)
Samuel Cudre (University of Zurich)

Discussant: Iikka Korhonen (Bank of Finland)

12:20 – 13:10 Impact of Labour Market Development on Wages in China
Wenlang Zhang* (Hong Kong Monetary Authority)
Gaofeng Han (Hong Kong Monetary Authority)

Discussant: Junsen Zhang (The Chinese University of Hong Kong)

13:10 – 14:30 Lunch (By invitation only)

14:30 – 16:00 Panel Discussion: Growth Slowdown in China: Cyclical or Trend?
Chair: Dong He (Hong Kong Monetary Authority / HKIMR)

Panellists: Louis Kuijs (The Royal Bank of Scotland)
Ting Lu (Bank of America Merrill Lynch)
Haibin Zhu (JPMorgan Chase Bank)
Xiaodong Zhu (University of Toronto)

- End of Conference -


* : presenter


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