Thursday, October 19, 6:00 – 7:30PM
6:00 – 6:30PM: Cocktail networking
6:30 – 7:30PM: Program
Speakers: Arthur Kroeber, Lanlan Zhang
Event Fee: $10 Members, $20 Non-members, $5 Students
Location: 40 Rector Street, 2nd Floor, New York, NY 10006
China’s Financial Funhouse: How Close to Collapse?
Over the last decade, China has deregulated its financial system at breakneck speed, and debt has more than quadrupled. Banks and a host of non-bank financiers have created dozens of new investment products, catering to savers’ demands for higher returns than they can get on bank deposits. Borrowing by local governments, real estate companies and speculators has soared. Many observers worry that China is heading for a financial crisis, and in March Chinese regulators began to worry too, launching a fierce crackdown on shadow lending and risky financial practices.
Does China’s financial system really risk a breakdown, or is it simply going through growing pains as it tries to adapt to the more complex financial needs of an increasingly consumer-driven economy? Arthur R. Kroeber, founder of the China-focused Gavekal Dragonomics research service, and editor of China Economic Quarterly, will discuss his latest report on China’s financial system in conversation with Zhang Lanlan, President of CICC NY. Dorinda Elliott, director of the Center for Business, will moderate the conversation.
Arthur R. Kroeber is head of research at Gavekal, a financial-services firm based in Hong Kong, founder of the China-focused Gavekal Dragonomics research service, and editor of China Economic Quarterly. He divides his time between Beijing and New York. Before founding Dragonomics in 2002, he spent fifteen years as a financial and economic journalist in China and South Asia. He is a senior non-resident fellow of the Brookings-Tsinghua Center, an adjunct professor at the Columbia University School of International and Public Affairs, and a member of the National Committee on US-China Relations. His book China’s Economy: What Everyone Needs to Know is published by Oxford University Press in April 2016.
Lanlan Zhang is currently Vice Chairman of CICC US Securities, Inc., a wholly owned subsidiary of China International Capital Corporation Limited (“CICC”), where she has worked since 1999. After leading CICC Research’s TMT team, Ms. Zhang became chief analyst of CICC Research Department, head of Sector Research Group and head of Strategic Research Group from 2007 to 2009. In 2009, Ms. Zhang was appointed Director and CEO of CICC US Securities, Inc. Ms. Zhang received her Bachelor Degree in Economics from Shanghai International Studies University in 1991, and her Master of Business Administration degree from Hong Kong University of Science and Technology in 1998.
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