Second International Roundtable on Securities Markets in China

6-7 June 2002, Shanghai,China

The Second International Roundtable on Securities Markets in China, co-hosted by the China Securities Regulatory Commission and the OECD, focused on various issues concerning the development of capital markets, including: Building a Domestic Institutional Investor Base; Effective Enforcement of Regulations; Bond Market Development; and, Financial Futures Markets, which are challenges to the Chinese regulatory authority in the face of the acceleration of financial sector liberalisation associated with China’s entry into the WTO.

Draft Agenda

Draft List of Participants

Session 1: Overview of Development of Chinese Securities Markets

• China's entry to WTO and its implication for the development of Chinese securities markets -OECD study, Mr. John Thompson, Financial Counsellor, OECD

Session 2: Building A Domestic Institutional Investor Base

Part A:The Role of Institutional Investors for Developments of Securities Market

• Developing institutional investors in China: An overview,
  Mr. Yongbeom Kim, Senior Financial Economist, World Bank

Part B:Regulations on Institutional Investors

• Regulations on Institutional Investors -OECD experience,
  Mr. Stephen Lumpkin, Principal Administrator, OECD
• Regulations on Institutional Investors -Asian experience,
  Prof. DoSoung Choi, Non-standing Commissioner, Securities and Futures Commission, Korea
• Governance of Institutional Investors -OECD experience,
  Mr. John Thompson, Tables, Financial Counsellor, OECD

Session 3: Effective Enforcement of Regulations

• Effective enforcement - US experience, Prof. James Cox, Brainerd Currie Professor of Law, Duke University
• Effective enforcement - Australian experience,
  Mr. Alan Cameron, Former Chairman of Australian Securities and Investments Commission
• The role of exchanges in securing effective enforcement of regulation, Ms. Karen K. Y. Lee, Executive Vice President, Head - Listing, Regulation and Risk Management, Hong Kong Exchange and Clearing Ltd.

Session 4: Bond Market Development

Part A:Government Bond Market

• Hans Blommestein, Secretary to the OECD Working Party on Public Debt Management, OECD
• The implication of government bond market development for the financial sector reform in China, Prof. Ghon Rhee, Professor of International Finance and Banking, College of Business Administration, University of Hawaii

Part B:Corporate Bond Market and Securitised Products

• The role of corporate bond in a bank dominating corporate financing market, Prof. Changyong Rhee, Power Point Presentation, Associate Professor, Department of Economics, Seoul National University
• Prospects for securitised products (ABS, MBS), Mr. Stephen Lumpkin, Principal Administrator, OECD

Session 5: Financial Futures Markets

• The role of financial futures markets and proper regulation, Dr. Paula Tosini, Executive Vice President and Director, Institute for Financial Markets
• Lessons from US experience, Mr. Richard Shilts, Acting Director, Division of Economic Analysis, Commodity Futures Trading Commission
• Lessons from Australian experience, Mr. Alan Cameron, Former Chairman of Australian Securities and Investments Commission
• Lessons from Japanese experience, Mr. Tetsuo Yamada, Director, Research and Development, Sigma Base Capital
• Development of financial futures markets in Asia -the experience of SGX, Mr. Swee Tian Ang, President, Singapore Exchange Limited