IMF Conference

International Symposium on Housing and Financial Stability in China

Shenzhen, China

December 18-19, 2015

The conference is organized around three themes: (1) housing sector risks in China; (2) relatedly, the health of China financial sector; and (3) the integration of China into the world financial system.

Program

December 17, 2015
2:30 - 5:00 pm	Registration (Lobby, Wuzhou Guest House)
6:00 pm - 9:00 pm	Dinner (Wuzhou Guest House)
December 18, 2015
Session 1 8:45 - 9:30 am	Welcoming remarks (through video): Min Zhu, Deputy Managing Director, IMF Opening Remarks: Prakash Loungani, Chief, Development Macroeconomics, IMF Opening remarks Wei Xiong), Princeton University & CUHK Shenzhen Yanxia Wang, Minister Counselor, Embassy of China in the U.S.
Session 2 9:30 - 10:45 am	Housing Markets in China—Getting the Facts Right Moderator: Prakash Loungani, IMF Presenters: Joseph Gyourko, University of Pennsylvania Evaluating the Risk of Chinese Housing Markets: What We Know and What We Need to Know (with Jing Wu and Yongheng Deng) Presentation Hanming Fang, University of Pennsylvania Demystifying the Chinese Housing Boom (with Quanlin Qu, Wei Xiong and Li-An Zhou) Presentation Discussant: Haizhou Huang, CICC Presentation Xiaobo Zhang, Peking University Presentation
10:45 - 11:15 am	Coffee break
Session 3 11:15 am - 12:45 pm	Local Debt and Housing in China—Assessing the Risks Moderator: Grace Li, IMF Presenter: Jie Tang, Former Deputy Mayor of Shenzhen Risks in China's Economic Transformation—Experience from Shenzhen Presentation Panelists: Yongheng Deng, National University of Singapore Presentation Richard Koss, Global Housing Watch Initiative Presentation Wensheng Peng, China Citic Bank
12:45 - 2:30 pm	Luncheon Keynote Speaker: James Mirrlees, Nobel Laureate in Economics, Chinese University of Hong Kong
Session 4 2:30 - 3:45 pm	China's Banking System: Coming out of the Shadows? Moderator: Jianfeng Yu, University of Minnesota & CUHK Shenzhen Presenter: Michael Song, Chinese University of Hong Kong The Risk of China's Shadow Banking System Panelists: Haibin Zhu, JP Morgan Torsten Ehlers, BIS
3:45 - 4:15 pm	Coffee break
Session 5 4:15 - 5:30 pm	An Emerging Banking Crisis? Moderator: Yanqing Yang, China Business News Research Institute Panelists: Patricia Cheng, CLSA Yingnan Xiao, China Everbright Bank Fangming Ye, China Cinda Asset Management Co. Song Zhou，China Merchants Bank
6:00 pm	Dinner (Wuzhou Guest House)
December 19, 2015
Session 6 8:45 - 9:30 am	Moderator: Min Liu, The Chinese University of Hong Kong Nick Lardy, Peterson Institute Financial Risk in China Presentation
Session 7 9:30 - 10:45 am	Internationalization of the Renminbi: Implications for China’s Monetary Policy Moderator: Wei Xiong, Princeton & CUHK Shenzhen Panelists: Yiping Huang, CCER, Peking University Zheng Liu, Federal Reserve Bank of San Francisco Tao Guan, CF40 Presentation
10:45 - 11:15 am	Coffee break
Session 8 11:15 am - 12:30 pm	Internationalization of the Renminbi: Opportunities for China and the World Moderator: Hongyi Chen, Hong Kong Institute for Monetary Research Presenter: Alfred Schipke, IMF Senior Resident Representative for China Transition to the ‘New Normal’: The RMB and China’s International Role Presentation Panelists: Yi Huang, Graduate Institute, Geneva Presentation Wei Wang, Managing Director, Bank of China International Kang Shi, The Chinese University of Hong Kong