About ASIFMA’s 8th China Capital Markets Conference in 2018
Further to the success of the past seven annual editions of China’s Capital Markets Conference inAsia, the 2018 conference again received valuable support from a number of key stakeholders inthe region. The conference attracted over 350 participants from 200 organizations, including 18%
buy side, 6% policy maker/public official, 4% corporate treasurer and 12% media. Among over 70
senior speakers we had senior representatives of the region from sell side, institutional investors,
corporate treasurers, market influencers and many other leading financial organizations.
This industry-wide conference has become a significant platform in the region for the industry toconvene and discuss key topics on the development of the China capital markets.

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We specially thank the valuable support from 13 sponsoring firms where the Lead Sponsor isThomson Reuters and other supporting sponsors include BNP Paribas, Moody’s Investors Service,
S&P Global, Ashurst, China International Capital Corporation (CICC), Clearstream, Credit Agricole,
Latham & Watkins, Luxembourg for Finance, Societe Generale, IHS Markit, SWIFT and Hong Kong
University of Science & Technology (HKUST). The event is in collaboration with 10 endorsers and 4
media partners as well.

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We have received positive feedback from the stakeholders including speakers, delegates,
sponsors and media partners. Most of them found the conference fruitful with speakers sharing
great thoughts on various multifaceted topics, the discussions highly informative and interactive,
and the event enjoyable with the opportunity to meet various senior representatives with similarinterests in financial regulation, which encouraged the development of China Capital Markets.

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List of Participating Organizations in 2018:
Aberdeen Asset Management Asia Limited
Active Investments Capital Limited
Acuris GlobalApex Capital Management (Hong Kong)
Limited
AK Partners
Allied Group Ltd.
Amundi Asset Management
Anbang Asset Management Co. Ltd
AshurstAsia and Pacific Seed Association (APSA)
Asia First Financial Intelligence Limited
Asia Pacific RIM (China) Limited
Asia-Pacific Structured Finance AssociationLimited
Australia and New Zealand Banking Group(ANZ)
Baillie Gifford & Co
Bank of America Merrill Lynch
Berlin Finance GroupBMO Global Asset Management
BNP Paribas
BOCI-Prudential Asset Management Limited
Bond Connect Company Limited
Bradesco Securities HK Limited
CACEIS Investor Services
CAIA AssociationCaixin Media
Capital Group
China Development Bank
China International Capital Corporation(Hong Kong) Limited
China-ASEAN Capital Advisory Co., Ltd
China-ASEAN Investment Cooperation Fund
Citadel Securities LLC
CITIC Capital Holdings Limited

CITIC Capital Silk Road Fund
Citicorp Investment Bank (Singapore) Limited
Citigroup Global Markets Asia Limited
City of London Beijing Office
Clearstream
ComplianceAsia Consulting Ltd.
Consulate General of the United States ofAmerica
Consulate General of The United States,
Hong Kong & Macau
Control Risks Group Holdings Ltd
CPPIB Asia Inc.
Credit Agricole
Crescent Management Limited
CSC Asia Pacific Ltd.
Deloitte
Digfin GroupDTCC
Eastspring Investments
Eastwind Capital Limited (Hong Kong)
EBS BrokerTec
Embassy of France in China
Embassy of Italy to the People's Republic ofChina
Equities First Holdings
Eurex
Eurizon Capital HK
Ewin Asia Capital Limited
FIL Investment Management (Shanghai)Company Limited
Finanz und Wirtshaft
First American Bank
Flow Traders Hong Kong Ltd.
Focus Ventures
FTSE Russell
Fullgoal Asset Management (HK) Limited4

List of Participating Organizations in 2018 (Con’t):
GaveKal Capital Limited
GFMA
GlobalRMB
Glorious Sun Holdings Ltd
Goldman Sachs Group, Inc.
GPB Financial Services Hong Kong LimitedGuernsey Finance
Hai Tong Asset Management (HK) Limited
Hang Seng Investment Management Limited
Herbert Smith Freehills
Hitachi Capital Corporation
HKEX
Hong Kong Trustees' Association Ltd
HSBC Global Asset Management
HSBC Holdings plc
Hutchison Ports Holdings Limited
ICAP AP (Singapore) Pte Ltd
IHS Markit
International Capital Market Association(ICMA)International Finance Corporation (IFC)
International Financial Law Review
INV Partners
iShares
J.P. MorganJefferies Hong Kong Limited
Jun He Law Offices
Jun Yang Financial Holdings Limited
Kapronasia
King & Wood Mallesons
Latham & Watkins
Linklaters
LKF Capital Partners Ltd
Look's Asset Management LimitedLuxembourg for Finance
Macquarie Group

MaGESpire
Manulife Financial Asia Limited
Mathiannal Group
Matthews Asia
MercerMergermarket Group
Mintz Group
Mlex
Money Concepts Capital Corp
Moody's Investors Service Ltd.
MTR Corporation Limited
Mutualwell Incorporated
Natixis Investment Managers Hong Kong
Limited
NatWest Markets
NEX Group plc
Nikkei Inc.
Nixon Peabody LLP
Norddeutsche Landesbank Girozentrale
Singapore Branch
Official Monetary and Financial Institutions
Forum (OMFIF)
Oneday Capital Limited
Ontario Teachers' Pension Plan (Asia) Ltd
Optiver Australia Pty Limited
Oversea-ChineseBankingCorporation
Limited (OCBC Bank)
Pacific Hawk (HK) Ltd.
Pan Asia Securities Lending Association(PASLA)
Peng Yang Fund Management
Pengyuan Credit Rating (Hong Kong) Co., Ltd
Phillip Capital Management
PineBridge Investments Asia Limited
PrimeCredit Limited
Prudential Corporation Asia
5List of Participating Organizations in 2018 (Con’t):
Pureheart Capital Asia Limited
PwC (PricewaterhouseCoopers) International
Ltd.
R3CEV LLC
R5FX Ltd
Refinitiv
Regulation Asia
Reuters Breakingviews
S&P Global Market Intelligence
Schroders
Securities and Exchange Commission ofCambodia
Societe Generale (HK) Limited
South China Morning Post Publishers LimitedStandard & Poor'sStandard Chartered
State Street Securities Hong Kong Limited
SWIFTT. Rowe Price Hong Kong Limited
Ta Kung Pao (HK) Ltd.

Taikang Asset Management Co., Ltd.
Taiping Securities (HK) Ltd
The European Chamber of Commerce HongKong
The Hong Kong Association of Corporate
Treasurers (HKACT)The Hong Kong University of Science &Technology
The Hongkong Electric Company, Limited
Tradeweb LLC
Treasury Markets Association (TMA)
US-China Business Council (USCBC)
Vigeo Eiris
Vistra Hong Kong
Vistra Singapore
WestpacWhite & Case LLP
Yunfeng Financial Group
Zhongrong International Securities CompanyLimited

Event Website:
For more about the ASIFMA’s 8th China Capital Markets Conference in 2018:www.asifma.org/china2018
For More Information about ASIFMA Events:
www.asifma.org/events

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ASIFMA’s 8th China Capital Markets Conference
Tuesday 15 May 2018
Program (Final)
Location:
Remark:Conrad Hong Kong (Grand Ballroom, Lower Lobby)
Open to the media except the Concurrent RoundtablesMorning Plenary Sessions
08:15-08:30

Delegates Check-in

08:30-08:40

Welcome Remarks• Mark Austen, CEO, ASIFMA

08:40-08:55

Keynote• James Lau, Secretary for Financial Services and the Treasury, HKSAR Government

08:55-09:40

Panel Discussion 1 – China Macro Economy 2018
- The benefits of liberalisation / Opening up of China- China corporate deleveraging- Aligning Chinese regulatory standards with the G20 commitments• Betty Rui Wang, Senior China Economist, ANZ• CG Lai, Head of Global Markets, Greater China, BNP Paribas• Frederic Neumann, MD, Co-head of Asian Economic Research, HSBC
• Jeffrey Goldfarb, Deputy Editor, Head of Asia, Reuters Breakingviews (Moderator)

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Morning Plenary Sessions (Con’t)
09:40-10:25

Panel Discussion 2 – How can China become an International Financial Centre?
- External impact: Brexit, Trump- Deep liquid capital markets- Regulatory and legal framework- Market access- How can capital markets support RMB internationalization, Belt & Road Initiative andgreen finance• Robert Rooks, Former Partner, Deloitte• David Pang, Treasurer, MTR Corporation• Tailei Wan, Head of International Cooperation Department, National
Association of Financial Market Institutional Investors (NAFMII)• Alicia Garcia Herrero, Chief Economist Asia Pacific, Natixis• Sanjeev Chatrath, MD, Region Head, Asia, Financial & Risk, Thomson Reuters• Cindy Chen, MD, Hong Kong Head of Securities Services, Citi (Moderator)
10:25-10:45

Coffee Break10:45-11:30

Panel Discussion 3 – Accessing Chinese Markets- Overview of existing access channels- Streamlining access channels- MSCI Inclusion- Northbound ID- PFM WFOEs- Ease access for institutional investors• Simon Williams, MD, Head of APAC Equity Trading, BlackRock• Kui Ma, Senior Management of CICC Group, Financial Controller, MD• Julien Martin, MD, Head of FIC Product Development, Hong Kong Exchanges
and Clearing Limited (HKEX)• Stephane Loiseau, Head of Cash Equities & Global Execution Services - Asia Pacific,Societe Generale• Charles Lin, MD, Country Head of China, Vanguard Investments Hong Kong Limited• Jennifer Hughes, Asia Finance Editor, Reuters (Moderator)

8Morning Plenary Sessions (Con’t)
11:30-12:15

Panel Discussion 4 – Going Offshore and Outbound Investments- Investment grade bond offerings- High yield bond issuances- LGFVs- Restrictions on Chinese investors’ outbound investments- Southbound Stock Connect regimes (London, NYC?)- Belt and Road Initiative• Jiaxing Zhou, MD & Head of Legal, Department of Legal and Compliance, China
International Capital Corporation (Hong Kong) Limited• Thomas Kwan, CIO, Director, Board of Directors, Harvest Global Investments• Randolf Tantzscher, Director, Fixed Income Indices, IHS Markit• Ivan Chung, Associate MD, Head of Greater China Credit Research and Analysis,
Moody’s Investors Service• Christopher Lee, MD & Chief Ratings Officer, Corporate Ratings, S&P GlobalRatings• Jini Lee, Partner, Ashurst (Moderator)
12:15-13:15

Lunch

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Afternoon Break-out Sessions – Stream A
13:15-13:55

Panel Discussion A5 – China FX & Local Rates: Trends and Opportunities, Including Hedging- Developing deeper, more liquid hedging instruments- Improve electronic execution- Onshore vs offshore hedging• Brad Gibson, Senior VP and Portfolio Manager, Fixed Income, AB• Patrick Leung, Director, Head of Fixed Income and FX Trading for APAC, BlackRock• Geoff Kot, MD, Head, FX Cash Trading, Asia, Standard Chartered Bank• Michael Go, Regional Head of FX Market Development, Asia, Financial & Risk,Thomson Reuters• Cynthia Wong, Head of Emerging Markets Trading, Fixed Income and Currencies,
Asia Pacific, Societe Generale (Moderator)
13:55-14:35

Panel Discussion A6 – Infrastructure and the Belt and Road Initiative- Chinese government pledge to develop the Belt and Road Initiative- Infrastructure spending in emerging economies• Stephane Karolczuk, Partner, Head of Hong Kong Office, Registered Foreign
Lawyer (Luxembourg), Arendt & Medernach• Eric Wu, Director, Infrastructure, BlackRock• Patrick Ip, MD, China-ASEAN Investment Cooperation Fund
• Enoch Fung, Head, Market Development Division, External Department, Hong
Kong Monetary Authority (HKMA)• Vivian Tsang, Associate MD, Project and Infrastructure Finance Group, Moody's
Investors Service• David Lam, Partner, King & Wood Mallesons (Moderator)
14:35-14:55

Coffee Break10

Afternoon Break-out Sessions – Stream B
13:15-13:55

Panel Discussion B5 – Green Finance- Disclosure- Green reporting- Green lending, green equity, green bonds,…

• Anna-Marie Slot, Partner, Global Head of High Yield, Ashurst• Francis Ho, Senior Director - Group Treasury & Project Finance, CLP Holdings Limited• Dominique Duval, Head of Sustainable Banking APAC, Credit Agricole Corporate
and Investment Bank
• Richard Goldman, Buy-Side Market Development Manager, Hong Kong, Financial& Risk, Thomson Reuters• Juliette Macresy, Head of Greater China and South East Asia Market, Vigeo Eiris• Ricco Zhang, Director, Asia Pacific, International Capital Market Association (ICMA)(Moderator)
13:55-14:35

Panel Discussion B6 – Equities Market Development Including Stock Connect- Have we gotten past teething issues?
- Circuit breakers- Further enhancements- Inclusion in global benchmarks- Settlement framework- Reducing restrictions for institutional investors- How to move from 5% MSCI partial inclusion factor to 100%?
- IPO reform• Stuart Rae, CIO Asia Pacific Value Equities, AllianceBernstein• Jean-Paul Linschoten, MD, Head of China Client Strategy (Equities), HSBC
• Stuart Jones, Chairman, Pan Asia Securities Lending Association (PASLA)• Joanne Lim, Algorithm Trader (Listed Derivatives), Global Execution Services,
Societe Generale• Cyrus Mui, Head of Product Research, Asia, Vanguard Investments Hong Kong Limited• Lyndon Chao, MD – Head of Equities, ASIFMA (Moderator)
14:35-14:55

Coffee Break11

Afternoon Plenary Sessions
14:55-15:35

Panel Discussion 7 – China Interbank Bond Market: Developments and Opportunities,
Including Bond Connect- The current situation- The road ahead- How can foreign investors be encouraged to participate- Trading and settlement related issues- Importance of Close-Out Netting• George Sun, Head of FXLM & CD Institutional Sales, APAC & GM APAC Head ofDomestic Clients, BNP Paribas• Arnaud Delestienne, Head of Core Product Development, Clearstream• Dariusz Kowalczyk, Senior Economist and Strategist for Asia ex-Japan, Credit
Agricole Corporate and Investment Bank
• Zhanying Li, Director, Fixed Income Index, FTSE Russell• Lawrence Lu, Senior Director and Analytical Manager, Greater China CorporateRatings, S&P Global Ratings• Kelly McKenney, Director and Head of Distribution for Asia (ex-Japan),Tradeweb (Moderator)
15:35-16:15

Panel Discussion 8 – FinTech in China and the Emerging Technologies- China, leading the world- Are FinTech companies displacing traditional financial institutions- How will digitization change the world of payments and need for financial instruments- Are institutions infrastructure ready to cope
- Developments in blockchain, big data, AI- ICOs / Crypto Currencies• William Hallatt, Partner, Herbert Smith Freehills• Philippe Dirckx, MD, Head of Markets & Initiatives, SWIFT• Carl Wegner, MD, Head of Asia, R3• Stephanie Du, Director of WeChat Pay International Business, Tencent• Praz Mathiannal, Blockchain Investor, Crypto Trader & Miner• Zennon Kapron, Founder and Director, Kapronasia (Moderator)

12Afternoon Concurrent Roundtables (Closed to the media)
16:15-16:55

Concurrent Roundtables**This is a session of 4 simultaneous roundtables, each representing a designated topic withmoderators leading the discussion. Delegates are able to join any table of their choosing.
Roundtable 1 - China Securitisation in a Global Context- Development of the auto-loans securitisation market- The beginning of a mortgage-backed market- Has China learnt from the lessons of sub-prime mortgages and CDOs to avoid adomestic credit crunch• Jonathan Leung, Asset Finance and Securitization, Global Markets, Asia Pacific,BNP Paribas• Ke Chen, Senior Director, Structured Finance, Pengyuan International
Roundtable 2 – The Impact of the Cybersecurity Law• Hui Xu, Partner, Latham & Watkins• Jacob Parker, VP, China Operations, US-China Business Council
Roundtable 3 - Tax Issues Affecting China Capital Market Developments- Value Added Tax- WHT in China• Elvis Chan, Director, Corporate Tax - Asia, Bank of America Merrill Lynch• Brenda Liu, Senior Manager, Business Tax, Standard Chartered
Roundtable 4 – Foreign Ownership of Banks, Asset Managers, Trusts and Securities
Companies- Any remaining licensing restrictions• Natasha Xie, Partner, JunHe• John Xu, Partner, Linklaters
16:55-17:00

Closing Remarks• Mark Austen, CEO, ASIFMA13

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