THE LUXEMBOURG RENMINBI FORUM
The Luxembourg Renminbi Forum gathers high-level speakers and industry practitioners to discuss the internationalisation of the RMB in the context of China’s transformation from an investment to a consumption-led economy.
For the 3rd time in succession, the Forum will provide an enriching platform for panels to address the Chinese government’s steps to reform its market economy. Discussions aim at introducing the different channels for foreign investors to invest into China and vice versa, Chinese investors’ options to invest abroad. Further topics include the new role of European stock exchanges in supporting Stock Connect, as well as corporates’ needs in RMB liquidity.
The one day conference is a unique opportunity to leverage extensive knowledge and networking, bringing together an international audience of investors and policy makers in the elegant venue of Philharmonie in Luxembourg.
Nicolas Mackel, CEO, Luxembourg for Finance
THE STATE OF PLAY WITH REGARDS TO THE INTERNATIONALISATION OF THE RENMINBI
Dr. Xuechun Zhang, Chief Representative, Frankfurt Representative Office, People’s Bank of China
HE Pierre Gramegna, Minister of Finance, Luxembourg
CHINA’S ECONOMY: THE NEW REALITY
Despite China’s economic growth being the weakest since 25 years, with 6.9% in 2015, it still outperforms growth rates of almost every other country in the world. Capital-rich banks and low unemployment back China’s transformation from an investment to a consumption-led economy. However, issues such as capital outflows, demographics and the overall global economic slowdown challenge this process – so what is China’s new reality?
Moderator: Alan Wheatley, Associate Fellow, Chatham House, London
Dr. Liu Shengjun, Executive Deputy Director, CEIBS Lujiazui Institute of International Finance, Shanghai
Abhishek Sinha Kumar, Head, Foreign Financial Institutions, UK/Europe, Citi, London
Frederic Neumann, Co-head of Asian Economics, Managing Director, HSBC Hong Kong
Andrew Polk, China Economist, Medley Global Advisors, Beijing
TO REFORM OR NOT TO REFORM - CHARTING THE WAY FORWARD
In its new 5-year plan, the Chinese government sets ambitious goals in order to reform the country’s economy. A major step will be the reform of state-owned enterprises and the transition to a floating exchange rate.
How strong is China’s will to reform its economy in general and financial markets in particular?
Moderator: Frank Sieren, Senior Asia Columnist, Handelsblatt, Beijing
David Carbon, Chief Economist, Managing Director for Economic and Currency Research, DBS Bank, Singapore
Sandra Lu, Partner Llinks Law, Shanghai
Robert Minikin, Head of Asian FX Strategy, Standard Chartered Bank, London
WHICH WAY TO ACCESS THE CHINESE MARKET - INVESTORS’ VIEW
Over the course of the last years, China has set up multiple channels to attract foreign investors into its capital market. Out of the range of potential access tools into the Chinese market – stock connects, mutual recognition, RQFII or QFII quotas – which channel should foreign investors choose?
Moderator: Nigel Stevenson, Online Editor, Thomson Reuters, London
Evan Goldstein, Managing Director, Global Head RMB Solutions, Deutsche Bank, Hong Kong
Xu Zhi, Deputy Head of Cross-Border RMB Management Division, International Banking Department, ICBC, Beijing
Tony Wang, General Manager, Global Markets, Bank of China, Hong Kong
Marc-André Bechet, Director Legal & Tax, Association of the Luxembourg Fund Industry (ALFI)
STOCK EXCHANGES – NEW ROLE IN RMB INTERNATIONALISATION
Two years after its implementation, the Shanghai-Hong Kong Stock Connect is undergoing reforms to attract more foreign investors. As a reaction to recent market turbulences and to stimulate interest from the investor side, the launch of the Shenzhen-Hong Kong Stock Connect will be delayed until the second half of this year. CEINEX, the first regulated renminbi market outside China was launched in Frankfurt and London has announced similar plans. How can European stock exchanges support the different schemes?
Moderator: Hubertus Väth, Managing Director, Frankfurt Main Finance
Kevin Rideout, Managing Director, Hong Kong Exchanges & Clearing, Hong Kong
Robert Scharfe, CEO, Luxembourg Stock Exchange
Tilman Fechter, Executive Director, Sales & Relationship Management, Investment Funds Services, Clearstream, Luxembourg
Jianhong Wu, Member of the Board, China Europe International Exchange (CEINEX), Frankfurt
CHINA, QUO VADIS?
Jörg Wuttke, President of the European Union Chamber of Commerce in China, Beijing
CHINESE INVESTORS’ OPTIONS TO INVEST ABROAD
In recent years, China’s outward FDI has seen substantial increase. It may even have exceeded inbound FDI in 2014 for the
first time, according to the Chinese Ministry of Economy. Overseas investments are driven by the desire to find alternatives
from the volatility of the local market and are at the same time aiming at portfolio diversification or technology acquisition.
How can we best serve these investors?
Moderator: Thomas Bauer, Correspondent, BIZZenergy, Frankfurt
Stéphane Karolczuk, Partner, Head of Hong Kong Representative Office, Arendt & Medernach, Hong Kong
Tiecheng Yang, Foreign Legal Consultant, Clifford Chance, Beijing
Matt Moran, Corporate Finance Partner, PwC, Luxembourg
Katja Panichi, Partner, Elvinger Hoss Prussen, Luxembourg
CORPORATES’ NEEDS IN RMB LIQUIDITY (TREASURY AND BONDS ISSUANCE)
The RMB offshore market is recently facing more challenges with the Chinese government snapping up offshore reserves
to prevent the further depreciation of the currency and to narrow the gap between CNH and CNY value. In a challenging
economic context, do European corporates still have enough immediate appetite to tap into the offshore RMB pool?
Is liquidity an issue?
Moderator: Luc Paindavoine, Vice President, Luxembourg Association of Corporate Treasurers (ATEL)
Andrew Carmichael, Partner Capital Markets, Linklaters, London
Charles Chen, Director, International Development, Corporate Coverage EMEA, BNP Paribas, Paris
Patrick Pang, Managing Director, Asia Securities Industry & Financial Markets Association (ASIFMA), Hong Kong
Marco Pescarolo, Group Treasurer, Ferrero International, Luxembourg
Nicolas MACKEL, CEO, Luxembourg for Finance
End of conference
Minister of Finance
Chief Representative, Frankfurt Representative Office
People's Bank of China
Luxembourg for Finance
Master of Ceremony and Moderator
Director Legal & Tax
Association of the Luxembourg Fund Industry (ALFI)
Chief Economist, Managing Director for Economic and Currency Research
DBS Bank, Singapore
Partner Capital Markets
Director, Internatioanal Development, Corporate Coverage EMEA
BNP Paribas, Paris
Executive Director, Head of Sales and Relationship Management, Investment Fund Services
Head of Global RMB Solutions
Deutsche Bank, Hong Kong
Partner, Head of Hong Kong Representative Office
Arendt & Medernach
Head, Foreign Financial Institutions, UK/Europe
Executive Deputy Director
CEIBS Lujiazui Institute of International Finance, Shanghai
Llinks Law Offices, Shanghai
Head, Asian FX Strategy
Standard Chartered Bank, London
Managing Director, Co-Head of Asian Economics
HSBC Hong Kong
Luxembourg Association of Corporate Treasurers (ATEL)
Asia Securities Industry & Financial Markets Association (ASIFMA), Hong Kong
Elvinger Hoss Prussen, Luxembourg
Ferrero International, Luxembourg
Medley Global Advisors, Beijing
Managing Director, Head of Client and Marketing Services
Hong Kong Exchanges and Clearing (HKEX), Hong Kong
Luxembourg Stock Exchange
Senior Asia Columnist
Thomson Reuters, London
Frankfurt Main Finance
General Manger, Global Markets
Bank of China (Hong Kong) Ltd, Hong Kong
Chatham House, London
EU Chamber of Commerce in China, Beijing
Member of the Board
China Europe International Exchange (CEINEX), Frankfurt
Head of China Financial Regulatory Team and Partner of Finance Group
Clifford Chance, Beijing
Deputy Head of Cross-Border RMB Management Division