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Tuesday 16 th November

08.00 – 09.00 Registration and Coffee Grand Ballroom Foyer – Basement 1


The keynote addresses and the Leaders’ Conversation will take place in the Grand Ballroom – Basement 1
09.00 – 09.10 Welcome Address: SHI Wenchao, Secretary General and Executive Vice President, National Association of Financial Market Institutional Investors (NAFMII)
09.10 – 09.20 Welcome Address: Padraic FALLON, Chairman, Euromoney Institutional Investor PLC
09.20 – 09.40 Opening Keynote Address: Dr ZHOU Xiaochuan, Governor, The People’s Bank of China (PBOC)
09.40 – 09.55 Keynote Address: Kenneth G. LAY, Vice President and Treasurer, The World Bank (IBRD)
09.55 – 10.45 Leaders’ Conversation: China’s Capital Market Development and its Global Implications
Moderator: Padraic FALLON, Chairman, Euromoney Institutional Investor PLC
Speakers: WANG Dongming, Chairman, CITIC Securities
ZHANG Hongli, Senior Executive Vice President, Industrial and Commercial Bank of China (ICBC)
Levin ZHU, Chief Executive Officer, Managing Director and Chairman of the Management Committee, China International Capital Corporation (CICC)
10.45 – 11.30 Coffee Break Grand Ballroom Foyer – Basement 1
11.30 – 12.15 Global Issuer Roundtable: Hong Kong’s Role as an Offshore RMB Bond Centre Basel III
SOVEREIGNS Workshop 1 Hosted by: Deutsche Bank Workshop 2 Hosted by: HSBC
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3) – Basement 1 Grand Ballroom (Studio 4) – Basement 1
 What will QE2 mean for sovereign  Prospects for the offshore RMB bond market  What impact will the new Basel regulations
borrowers?  Rationale for issuance: Attracting a diverse set have on banks?
 How worrying is inflation? of international and regional issuers  What are the implications of the recent
 Is sovereign credit risk being properly priced  Rationale for investment: Investor profile, announcements from the Basel committee on
today? liquidity and demand loss absorption in bank capital?

 Where does China fit in the funding  Documentation and execution: Creating a  How will banks manage the transition into the
programmes of sovereign borrowers and transparent and user-friendly issuance process new Basel III regime?
what role will Chinese liquidity play in the  Further developments: Tenor extension,  Which of the proposals in Basel III concern
future? interest rate swaps and structured products banks the most: liquidity or capital?
 How important is it for sovereign borrowers to  Does hybrid capital and subordinated debt have
be rated domestically to access Chinese a role under Basel III?
liquidity?  What is the role for contingent capital?
Moderator: Mark JOHNSON, Editor, Euromoney Speakers: Herman BAKE, Director, Head of Global Speaker: Sean McNELIS, Director, Financing Solutions
Conferences Risk Syndicate, Asia, Deutsche Bank Group, Global Capital Financing, HSBC
Speakers: Philip COMBES, Treasurer, New Zealand Patrick TSANG, Managing Director and Head of Fixed
Debt Management Office Income Capital Markets, Asia, Deutsche Bank
Jeffrey DIEHL, Managing Director, Global Head,
Public Sector Capital Markets, HSBC
Colin KIM, Director of the Office of Debt Management,
US Department of the Treasury
Robert STHEEMAN, Chief Executive, UK Debt
Management Office
12.20 – 13.05 Global Issuer Roundtable: Product Innovation in Financial Markets
SUPRANATIONAL AND FREQUENT ISSUERS Workshop 3 Hosted by: Agricultural Bank of China
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3) – Basement 1
 How have sources of primary demand changed?  How can regulators better advocate and regulate product innovation after
 What role do supranational borrowers play in the new environment? the crisis?
 What can international AAA rated borrowers offer the Chinese investor  What is the main direction of product innovation in the interbank market in
base? the coming five years?
 What impact will new global regulatory changes for banks have on the  How can non-financial enterprises better participate in product innovation in
demand for supranational paper? the interbank market?

 What is the appetite for supranational debt from Chinese investors?  What are the main pricing and risk management methods in financial
product innovation?
Moderator: Mike CARRODUS, Deputy Publisher, Euromoney Speakers: FANG Yaqian, Senior Research Analyst, Agricultural Bank of China
Speakers: Xuewen BI, Managing Director and Head of Debt Capital Markets, UBS LI Gang, Deputy Head, Research and Development, Financial Markets Department,
Securities Co. Agricultural Bank of China
Laura E. FAN, Head of Funding, Treasury Division, Inter-American Development YU Jianzhong, Deputy General Manager, Financial Markets Department,
Bank (IADB) Agricultural Bank of China
Jens HELLERUP, Director and Head of Funding and Investor Relations, Nordic
Investment Bank (NIB)
Eila KREIVI, Head of Funding, Americas, Asia, Pacific Capital Markets, European
Investment Bank (EIB)
Horst SEISSINGER, First Vice President and Head of Capital Markets, KfW
Bankengruppe (KfW)
Susanna WONG, Lead Financial Officer, Capital Debt Market Origination, The World
Bank (IBRD)
13.05 – 14.05 Luncheon Asian Bistro – Lobby
14.05 – 14.55 Panel I: The Ongoing Development of China’s Bond Markets and the Path Panel II: Creating a Sustainable Long-Term Investor Base and Longer Dated
Forward Yield Curve
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3 & 4) – Basement 1
 What kind of role should the bond market play in economic growth and  What are the advantages of longer tenors and how can these be achieved?
future development?  Moving beyond the iron rice bowl: What is the current and future role of
 Key achievements and challenges of China’s bond market development pension funds in China?
 Risk management in China’s bond market and lessons that can be learnt  What is the role of Chinese institutional investors in holding longer dated
from mature international markets paper?
 The importance of “China standards” in the development of the bond market  How can the market grow to include more non-banking intermediaries?
 Top priorities in the future development of China’s bond market  What is the best way to encourage and unlock the massive pools of liquidity
currently stored in savings?
 Matching longer-term supply with demand
 What are the primary concerns for investors and issuers?
Moderator: FENG Guanghua, Deputy Secretary General, National Association of Moderator: Mark JOHNSON, Editor, Euromoney Conferences
Financial Market Institutional Investors (NAFMII) Speakers: Shenghua HU, Managing Director and Head of Markets - China, Citibank
Speakers: BA Shusong, Deputy Director General, Research Institute of Finance, (China)
Development Research Center of The State Council (DRC) PENG Xiangdong, Deputy General Manager, Financial Markets Department,
BAI Weiqun, Senior Vice President, China Central Depository and Clearing Agricultural Bank of China
Corporation Limited Robert STHEEMAN, Chief Executive, UK Debt Management Office
Stephen GREEN, Author, The Challenges of China’s Economy Jian ZANG, Head of Liquidity Management, Money Markets and Investment,
Daniel MAMADOU, Managing Director, Co-Head of Debt Capital Markets and Treasury, China Development Bank (CDB)
Corporate Coverage Group, Asia, Deutsche Bank
TANG Lingyun, Vice General Manager, Global Market Department, Industrial and
Commercial Bank of China (ICBC)
15.00 – 15.45 China Banking Outlook - Lessons from Japan and Korea The Development of the Private Placement Market
Workshop 4 Hosted by: The Royal Bank of Scotland (RBS) Workshop 5 Hosted by: UBS
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3 & 4) – Basement 1
 Current regulatory and capital structure regime for Chinese banks and the  The current status of China’s domestic debt market: public vs. private
impact of Basel III  The practices of overseas private placement debt markets
 The pivotal role of Chinese banks in China's economic growth miracle  The rationale to promote private placement in China
and strong recovery from the recent global crisis
 Suggestions on how to develop the private placement market in China
 Chinese banks expect slower growth and a possible increase in
NPLs: What lessons can they learn from Japan and Korea to deal with
potential problems early and systematically?
Speakers: Kristine LI, Senior Director and Head of Asia Financial Credit Research, Speaker: Xuewen BI, Managing Director and Head of Debt Capital Markets, UBS
The Royal Bank of Scotland (RBS) Securities
Paul McWILLIAM, Managing Director, Financial Institutions Group, and Head of Guy WYLIE, Managing Director and Head of Debt Capital Markets, Asia, UBS
Bank Capital Solutions, The Royal Bank of Scotland (RBS)
15.45 – 16.15 Coffee Break Grand Ballroom Foyer – Basement 1
16.15 – 17.00 Global Issuer Roundtable: Short Tenor
AGENCIES Workshop 6 Hosted by: CICC
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3 & 4) – Basement 1
 How are borrowers adapting to the fluctuations in primary demand?  How mature are the CP and MTN markets in China?
 How are funding targets evolving?  The importance of a diversified issuer base
 Where are they looking to borrow and how have the sources of primary  How significant are the onshore CP and MTN markets to foreign issuers?
demand evolved?  Product development trends in China
 How important is the Chinese investor base given the restrictive pools of  Globalizing the RMB vs. globalizing China’s capital markets
liquidity?
 As an agency, is it necessary to be rated domestically to access Chinese
liquidity?
Moderator: William PESEK Jr., Columnist, Bloomberg Speakers: Dr John CHENG, Managing Director, China International Capital
Speakers: Per ÅKERLIND, Executive Director, Chief Financial Officer and Head of Corporation (CICC)
Capital Markets, Swedish Export Credit Corporation (SEK) YANG Xusheng, Partner, FenXun Partners
Anish GUPTA, Associate Director, Oesterreichische Kontrollbank AG (OKB) Michael M. YE, Chief Executive Officer and Vice Chairman, China Chengxin
Esa KALLIO, Executive Vice President and Deputy to the Chief Executive Officer, International Credit Rating Company
Municipality Finance (MuniFin)
17.05 – 17.50 Global Issuer Roundtable: Global Issuer Roundtable:
FINANCIAL INSTITUTIONS SOUTHEAST ASIAN ISSUERS
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3 & 4) – Basement 1
 Case study of Bank of Tokyo-Mitsubishi UFJ (China) and Deutsche Bank’s  What opportunities do Southeast Asian bond markets offer Chinese
recent RMB debt offerings investors?
 What are the RMB funding needs of foreign financial institutions?  Is Southeast Asian debt a good way to get exposure to the region’s high
 Will we see more financial institutions issuing RMB bonds on-shore and off- growth?
shore?  What is the outlook for global fund flows into Southeast Asia local currency
 Where are the opportunities, challenges and what are the technical issues markets?
for RMB funding?  What is the liquidity and size of the Southeast Asian government, quasi-
 How can financial institutions help promote international usage of the RMB? government and corporate bond markets?
 What impact will the new Basel regulations have on banks?  How will capital control affect Chinese investors investing in Southeast
Asian local currency bonds?
Moderator: Lawrence WHITE, Asia Editor, Euromoney Moderator: Nick HAYWARD, Managing Director, Asia Pacific and Japan, Euromoney
Speakers: Bing CHENG, Head of Interest Rate Trading and Senior Vice President, Conferences
Treasury and Markets, DBS Bank (China) Speakers: Ben CHAN, Executive Director of Investments and Chief Representative
Gunar SCHRAMM, Asia Pacific Treasurer, Deutsche Bank of the Beijing Office, Khazanah Nasional Berhad
Hirokuni TANAKA, Group Head and Chief Manager, Global Markets Sales and Kamarudin HASHIM, General Manager, Investments and Bond Market, The
Trading Division, Global Markets Group , Bank of Tokyo-Mitsubishi UFJ (China) Securities Commission of Malaysia (SC)
Paroche HUTACHAREON, Senior Analyst, Bond Market Development Bureau,
Public Debt Management Office of Thailand
Dato' LEE Kok Kwan, Deputy Chief Executive Officer, Group Treasury and
Investments, CIMB Group
Peerawat PUMTHONG, Senior Executive Vice President, Business Development
Department, Ratchaburi Electricity Generating Holding PCL
Heri SETIAWAN, Deputy Director of Portfolio and Debt Risk, Directorate General of
Debt Management Office, Ministry of Finance, Republic of Indonesia
17.50 – 18.50 Cocktail Reception Grand Ballroom Foyer – Basement 1
Wednesday 17 th November
08.00 – 08.50 Registration and Coffee Grand Ballroom Foyer – Basement 1
The keynote addresses and Panel III will take place in the Grand Ballroom (Studio 1 & 2) – Basement 1
08.50 – 09.00 Euromoney Conferences Welcome Address: Tony SHALE, Chief Executive Officer, Euromoney Institutional Investor, Asia
09.00 – 09.30 Keynote Interview:
Interviewer: Mark JOHNSON, Editor, Euromoney Conferences
Interviewees: Jingdong HUA, Deputy Treasurer, Asian Development Bank (ADB)
Nina SHAPIRO, Vice President and Treasurer, International Finance Corporation (IFC)
09.30 – 10.20 Panel III: International Participation in China’s Bond Markets
 What are the challenges and technical issues that need to be overcome to increase international participation in the markets?
 What role will Hong Kong play as an off-shore RMB funding hub, and what opportunities exist there for investors?
 Which types of international issuers will likely issue Panda bonds in the future?
 From a Chinese institutional investor perspective, which credits are the most interesting?
 What new regulation governing the Panda bond market will be promulgated in the near future?
Moderator: Mark JOHNSON, Editor, Euromoney Conferences
Speakers: Brian BAKER, Chief Executive Officer and Director, PIMCO Asia
Wei DING, Executive Chairman, Investment Banking Committee, and Managing Director and Head of Investment Banking, China International C apital Corporation (CICC)
Augusto KING, Head of Debt Capital Markets, Asia, The Royal Bank of Scotland (RBS)
Monish MAHURKAR, Head of Local Currency Capital Markets, Asian Development Bank (ADB)
MU Huaipeng, Senior Advisor, Hong Kong Monetary Authority (HKMA)
10.20 – 10.50 Coffee Break Grand Ballroom Foyer – Basement 1
10.50 – 11.35 Global Issuer Roundtable: Offshore Debt Funding Opportunities for Chinese Companies
NORTH ASIAN ISSUERS Workshop 7 Hosted by: Citi
Grand Ballroom (Studio 1 & 2) – Basement 1 Grand Ballroom (Studio 3 & 4) – Basement 1

 What are the dynamics of the Japanese and Korean fixed income markets?  Cyclical opportunities vs. long term
 What are the factors influencing issuance levels?  Regulatory issues
 What are the different characteristics and roles of the Korean policy banks?  SOEs vs. private companies
 What do Japanese issuers offer international investors at current yield  Contrast against domestic capital markets
levels?  Outlook for further opening up the access
 What are the medium term RMB funding needs of Japanese and Korean  Investors' appetites
agencies?
Moderator: Matthew THOMAS, Asia Editor, EuroWeek Speaker: Ronald TANG, Director Capital Markets Origination, Markets – China, Citi
Speakers: Hak-lim DONG, Treasurer, Industrial Bank of Korea (IBK)
Tomoki MATSUDA, Director General, Treasury Department, Development Bank of
Japan (DBJ)
Hyung-jong NOH, Director General, International Finance Department, The Export-
Import Bank of Korea (KEXIM)
Takeshi SAKAMOTO, Division Chief, Capital Markets and Funding Division,
Treasury Department, Japan Bank for International Cooperation (JBIC)
11.40 – 12.25 Investing in Southeast Asian Quasi-Sovereign, Corporate Debt and Sukuk Liquidity
Markets Workshop 9 Hosted by: CITIC Securities
Workshop 8 Hosted by: CIMB Grand Ballroom (Studio 3 & 4) – Basement 1
Grand Ballroom (Studio 1 & 2) – Basement 1
Good opportunities exist for investors to access the strong growth of the Southeast China needs to establish a bond market with sufficient depth, width and diversity;
Asian region via local currency papers of quasi-sovereign and corporates – both achieving sufficient liquidity is one of the essential elements to reaching this goal.
conventional and Islamic.  The current state of liquidity in China's bond market
 Size and liquidity – range of investment and hedging products  The investor base
 Investing in mortgage backed securities  Liquidity premiums from market segmentation
 Legal framework and investor protection  Product structure requirements
 Opportunities in sukuk (Islamic bonds) markets  Pricing mechanisms: the basis of valuation, bilateral pricing and market
 Credit information and rating migration data makers
 Ways in which China’s continued opening improves liquidity
 The role of policy coordination
Speakers: Steven CHOY, President and Chief Executive Officer, Cagamas Berhad Speaker: Dr Zhanjun GAO, Executive Director, Fixed Income Department, CITIC
(Malaysia) Securities
Dato' LEE Kok Kwan, Deputy Chief Executive Officer, Group Treasury and
Investments, CIMB Group
12.30 – 13.20 Panel IV: Bonds Building China: The Socioeconomic Impact of a Maturing Bond Market
Grand Ballroom (Studio 1 & 2) – Basement 1

 What challenges remain in the development and embrace of bond markets nationwide?
 What is the long-term outlook for bond markets in China, and what are the primary factors shaping their development?
 What benefits will private enterprise derive from bond markets, and what impact will this have on state-owned vehicles?
 What will China’s increasing embrace of debt mean for the future of the nation?
 What larger societal benefits is the maturing of bond markets likely to herald?
 Can the markets effectively unlock middle-class savings?
 What will the role of China be in the global bond markets of the future?
Moderator: William PESEK Jr., Columnist, Bloomberg
Speakers: Dong-il KIM, Chief Investment Officer-Fixed Income, Franklin Templeton ITMC Seoul
PHANG Thim Fatt, Deputy Managing Director and Chief Financial Officer, BOC Aviation
Weisi TAN, Head, Fixed Income Department, Fortune SGAM Fund Management
Ted TOKUCHI, Managing Director and Head of the Investment Banking Committee, CITIC Securities
Ning ZHU, Deputy Director and Professor of Finance, Shanghai Advanced Institute of Finance (SAIF)
13.20 – 13.25 Closing Remarks: Paris SHEPHERD, Director, Asia Pacific, Euromoney Conferences
13.25 – 14.30 Luncheon Asian Bistro – Lobby
NB Euromoney Conferences reserves the right to amend the programme and is not responsible for cancellations due to unforeseen circumstances. Euromoney Conferences and NAFMII
accept no responsibility for statements made orally or in written material distributed by any of its speakers at its conferences. In addition, Euromoney Conferences and NAFMII are not
responsible for any copying, republication or redistribution of such statements.
The conference will be simultaneously translated into Mandarin and English.