English (US) Chinese (Simplified)
Securitisation in China
Beijing, China
March 30 - 31, 2019

Description

Euromoney/IMN is proud to announce our new partnership with CAF100, the leading China securitisation industry group and host of China’s leading securitisation event for the last two years.

China is a new frontier for foreign investors, with a juxtaposition of complex regulations yet very traditional and familiar ABS assets. With more than $200 billion in annual issuance, the Chinese ABS market represents a unique opportunity for those seeking yield and volume.
 
This important gathering will serve as the catalyst for cross border deal flow, and will provide international investors seeking to gain a foothold in China with a distinct competitive edge.

With the addition of Euromoney/IMN’s international audience base, the 3rd Annual event will provide a fertile platform for international investor engagement with local issuers and key regulators, to facilitate cross border deal flow and foster new business relationships.
 
Our robust educational program will feature a range of topics to help our global audience navigate the nuances of the domestic Chinese ABS market. The program will also highlight global structured product offerings such as CLOs and SRT transactions, for the benefit of local participants.
 
View the current agenda here.


Who Should Attend
  • Investment Banks (Underwriters/Structurers)
  • Attorneys at Law Firms and Regulatory Organizations 
  • Analysts for Investment Banks and Rating Agencies 
  • Broker/Dealers
  • Accountants 
  • Financial Advisors to Issuers and Arrangers 
  • Consultants 
  • Issuers Funding via Debt Capital Markets 
  • Fixed Income Investors (Asset Management Firms, Pension Funds, Mutual Funds)
  • Regulators and Central Banks
  • Technology Platform Providers, Analytics Firms 
  • Trustees and Servicers

Issuers & Investors 242

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Conference Highlights

Agenda

    Saturday, 30 March 2019

      08:00
      Delegate Registration Opens


      Commence Pre-Conference Learning Sessions, Classrooms A & B

      • These primer sessions will help attendees to understand basic concepts that will improve understanding of the more advanced topics to follow. They will be smaller sessions that encourage interaction with the presenters.

      Track A 08:10
      Classroom A: A Step by Step Guide to Issuing an ABS Deal in China

        • Primer on the role and structure of abs
        • Role of various counterparties
        •  An outline of the typical approval process (e.g. a “starter package” in regards to the approval process within NAFMII)
        • The structuring of new transactions and the necessary regulatory approval steps

        • Vincent Pan , Associate Director (HSBC Qianhai)

      Track B 08:10
      Classroom B: Chinese ABS Market Primer

        • Defining the interbank vs. exchange market and the regulatory landscape; defining asset backed notes and their inclusion in the interbank scheme
        • Respective roles and relationships between of the PBOC, NAFMII, China Banking Regulatory Commission and China Securities Regulatory Commission in governing the ABS market)
        • Overview of relevant regulatory bodies applicable for individual asset classes and / or securitization regimes
        • Asset types and deal structures: Autos, Consumer loans, Corporate SME loans, trade receivables, factoring/leasing receivables
        • Emerging assets including CMBS and REITs
        • Entry points into the Chinese bonds markets for the foreign investor: Bond Connect, Qualified Foreign Institutional Investor (QFII) and China Interbank Bond Market (CIBM) Direct

        • Shengzhe Wang , Counsel (Hogan Lovells International LLP)

      09:00
      Exhibit Hall Opening and Networking Break


      09:30
      Hosts’ Welcoming Remarks: Euromoney IMN and Modern Bankers


        • John Orchard , Chief Executive Officer, Banking & Finance Group; Board Member (Euromoney Institutional Investor PLC)

      09:40
      Opening Remarks: CAF 100


        • Tong Cao , Director; Chairman (CAF100; HDFH)

      09:50
      Keynote Speaker

      • Former Chairman of the China Regulatory Securities Commission
        • Gang Xiao , Former Chairman (China Securities Regulatory Commission (CSRC))

      10:10
      Keynote Speaker

      • A Regulatory Comparison: The European Perspective on Preventing Systemic Financial Risk while Fostering Market Innovation and Growth
        • Richard Hopkin , Managing Director, Head of Fixed Income, Capital Markets (AFME)

      10:30
      Refreshment Break


      10:50
      The Burgeoning Chinese ABS Market: A Dragon Awakened

        • Since the re-emergence in 2012, issuance expanded 65% YOY in 2017 to total $200bil rivaling some of the largest asset classes in the U.S. in terms of volume. What is the forecast for 2019? Will the rapid pace continue? What are the major headwinds? Tailwinds?
        • Impact of an economy transitioning from export–led to consumption-led model on demand for ABS financing
        • What is being funded and why securitisation as a funding choice? Residential housing, infrastructure, commercial property, consumer loans, online lending, factoring and leasing companies, SMEs and large corporates, Non-performing loans
        • Moving beyond the Interbank market; how can China attract more foreign participation in its domestic issuance

        • Rui Dan , Senior Manager, ABS Team, Investment Banking and Asset Management Department (Bank of China )
        • Maggie Zhao , Partner (Clifford Chance)
        • Jim Ahern , Managing Director - Global Structured Finance (Moody's Investors Service)
        • David Cao , Head of Financial Institutions & Co-Head of ABS Underwriting, Global Strategic Client Dept. (China Merchant Securities)
        • Kenneth Kwan , Executive Director, Capital Markets (Standard Chartered Bank)
        • Jian Li , Head of Research Department (China Banking Association)
        • Bo Qin , Executive Director & Head of ABS Business, Investment Banking Department (CICC )

      11:40
      The Role of Regulation in Improving Secondary Market Liquidity of ABS and Loans

        • Overview of the landscape and respective domains of each regulator
        • How have the concepts of true sale and bankruptcy remoteness held up under Chinese law? Outlook for a securitisation law framework
        • Role of the regulator: How are regulators viewing the ABS market? As an essential and necessary tool for bank balance sheet relief and SME funding or as a threat to financial stability?
        • Government efforts to move beyond the bilateral nature of the interbank market and to broaden and diversify the investor base?
        • Efforts underway to align with international practices in information disclosure, credit ratings, accounting standards and investor protection rules
        • What is the right amount of regulation? How are Chinese regulators learning from the U.S. and European markets in terms of mitigating risk while still fostering growth?
        • What role do indices and international exchanges have?
        • Potential for revision to the asset management regulations
        • Will regulators allow for more credit differentiation in the market in order to attract a broader investor base?

        • Ankit Garg , Executive Director, Credit Trading (Standard Chartered Bank HK Ltd)
        • Richard Hopkin , Managing Director, Head of Fixed Income, Capital Markets (AFME)
        • Jian Cheng , Vice President (Wanjia Co-Win Asset Management )
        • Howard Kaplan , Chairman (Structured Finance Industry Group (SFIG))
        • Chuankiu Liu , Deputy Secretary (Insurance Asset Management Association of China (IAMAC))
        • Binbin Cai , Managing Director, Asia Pacific (Intex)
        • Addison Everett , Partner (PWC)

      12:30
      Delegate Luncheon


      Commence Concurrent Tracks A, B & C


      Track A 14:00
      Chinese Residential Mortgage Backed Securities

        • Overview of the first AAA rated RMBS deal and the implications for this asset class
        • Issuance volume projections for 2019
        • How does the Chinese RMBS market compare with other developed markets such as the U.S. and Europe? Are there best practices to be employed? Lessons to be learned?
        • What role should the capital markets play in keeping housing finance affordable?

        • Qian Zheng , Head of ABS Products, Debt Financing Department, Investment Banking Division (China Merchants Securities)
        • Zhaoying Liu , / (Agriculture Bank of China)
        • Lijun Ma , Senior Manager, ABS Team, Investment Banking and Asset Management Department (Bank of China)
        • Hongyuan Zhang , / (China Construction Bank)
        • John Hsu , Head of Capital Markets (Angel Oak Capital)
        • Jerome Cheng , Senior Vice President, Structured Finance Group (Moody's Investors Service)
        • Mandy Wang , Head of ABS Business (SG & CO.)

      Track B 14:00
      Information Disclosure and The Value of Independent Third Parties in ABS

        • What are the current ABS regulators in China requiring in terms of type of information that will need to be available, and the delivery methodology
        • How are certified rating agencies conducting their due diligence on the underlying asset performance?
        • How much should an investor rely on the credit rating, and how much due diligence should they conduct on their own?
        • Likelihood of establishing a regulated and authorized data repository for the delivery of information to be disclosed from originators and sponsors
        • Alignment of reporting requirements with global regulations already established in Europe and the U.S.

        • Fan Liu , Vice President (China Central Depository & Clearing Co., Ltd. (CCDC))
        • Yan Lv , Legal Consultant (CAF 100)
        • Tracy Chen , Portfolio Manager and Head of Structured Credit (Brandywine Global Investment Management)

      Track A 14:50
      Consumer Finance: Online and Credit Card

        • Obstacles for the asset class in obtaining an international rating
        • Online lending fraud mitigation efforts

        • Tracy Wan , Senior Director (Fitch Ratings)
        • Jim Hao , General Manager Securitisation (JD Finance)
        • 莎 张 , 总经理助理 (包头市包银消费金融股份有限公司)
        • Lan Li , Vice President, Asset Management and Structured Finance Department (Jianghai Securities Co.,Ltd.)
        • Haowei Zhang , Deputy Head of Diversified Investment & Finance Team, Asset Management Department (Bank of China )
        • Wang Li , General Manager, Structured Finance (Chengxin International Credit Rating Co., Ltd.)

      Track B 14:50
      Alternative Bank Funding Options for Balance Sheet Relief: Understanding Synthetic Risk Transfer Technology

        • Understanding the Motivations for banks to issue a Synthetic Transaction vs. a True Sale
        • Understanding the Motivations for investors to buy a Synthetic Transaction (vs. a True Sale)
        • Overview of a Synthetic Transaction Structure: What assets can be referenced in SRTs? What has been done so far globally? Percentile Breakdowns, across types of loans books, and countries/geographies
        • What are the steps to take to get to a successful SRT Transaction? From selecting the portfolio, to structuring to legal documentation and closing. What does the investors’ due diligence process entail?

        • Mascha Canio , Head of Credit & Insurance Linked Investments (PGGM)
        • Xiwen Fan , Chief Risk Officer (China-LAC Cooperation Fund)
        • Haiyun Zhang , Director, Financial Markets Institute (University of International Business and Economics)
        • Elena Lee , Executive Director, Capital Structuring and Distribution Group (CSDG), Balance Sheet Securitisation (Standard Chartered Bank)
        • Martijn van der Molen , Senior Director, Credit & Insurance Linked Investments (PGGM)

      15:40
      Refreshment Break and Networking Time with Conference Exhibitors


      Track A 16:10
      Auto Loan Securitisation

        • Outlook for Chinese consumer demand for cars
        • Why is this the most appealing asset class for foreign banks? For foreign investors?
        • Total outstanding volume of auto ABS as a portion of overall ABS issuance and growth projections for this asset class
        • Impact of Bond Connect on international investor participation in Chinese Auto ABS

        • David Cao , Head of Financial Institutions & Co-Head of ABS Underwriting, Global Strategic Client Dept. (China Merchant Securities)
        • Grace Li , Director (Fitch Ratings)
        • Lydia Lai , Director, Capital Market Solutions (Standard Chartered)
        • Hu Zhe , Partner (King Wood & Mallesons)
        • Yi Liu , Director, Head of Retail Asset Securitization (Ping An Bank Company LTD.)
        • Chengji Hong , Portfolio Manager (Bank of China Shanghai Branch)
        • Bo Qin , Executive Director & Head of ABS Business, Investment Banking Department (CICC )

      Track B 16:10
      Fintech in Securitisation

        • FinTech represents a potent disruptor to the traditional financial platforms, and therefore, the question of how best to leverage it, will be addressed:
          • Advisory, Automation and AI
          • Digital Currencies and Blockchain
          • Digital Banking and Big Data
          • Incubation and The Role of Regulation

        • Fang Wang , / (Beijing National Accounting Institute)
        • Kangning Li , / (Tencent)
        • Richard Li , Chairman (BIMG Institute)
        • Congshuang Zhu , President (X-Fintech)

      17:00
      Delegate Networking Cocktail Reception Commences in the Exhibit Hall


      18:00
      Day One of the Global Investors’ Conference on Securitisation in China Concludes


    Sunday, 31 March 2019

      08:30
      Delegate Registration Opens


      09:00
      Keynote Speaker


        • Changneng Xuan , Deputy Director (State Administration of Foreign Exchange)

      09:20
      Keynote Speaker


        • Lei Hong , President (Asset Management Association of China (AMAC))

      09:40
      Keynote Speaker


        • Songzuo Xiang , Professor; Former Chief Economist (Renmin University School of Finance; Bank of China)

      10:00
      Keynote Speaker


        • Sigrid Zialcita , Chief Executive Officer (Asia Pacific Real Estate Association (APREA))

      10:20
      Refreshment Break and Networking Time with Conference Exhibitors


      10:40
      The Investor’s Panel: Global and Local Views on the Chinese ABS Market

        • Can China still be considered ‘emerging’ with >$200bil in annual issuance?
        • If so, does this label restrict the type of investor who can participate? What more is needed to label China a ‘mature market’
        • What are the main obstacles? Unfamiliar credit rating and taxation framework, regulatory uncertainty, understanding legal structure and bankruptcy recourse, data transparency and performance history
        • How important is obtaining an international rating?
        • What information are investors seeking as comfort given the relative lack of performance history due to the new nature of the market?
        • Is Bond Connect making a material difference in terms of increasing international investor participation? If not, what more should be done?
        • How important is a robust secondary market?
        • Attracting a broader base of investors by ensuring diversity of ABS credit quality tranches with clear pricing differentiation of risk

        • Jian Hu , Managing Director and Head of New Ratings for US Corporate Asset Securitization (Moody's Investors Service)
        • Mascha Canio , Head of Credit & Insurance Linked Investments (PGGM)
        • William Moretti , Managing Director (MetLife)
        • Eric Jan , Head of China Investments (Barings)
        • Shin Yukawa , Vice President, SAA & Markets (Swiss Re)
        • Robert McDonough , Senior Research Manager (Angel Oak Capital)
        • Tracy Chen , Portfolio Manager and Head of Structured Credit (Brandywine Global Investment Management)

      11:30
      The Role of Securitisation in Funding Small Business Lending

        • Tapping into the interbank market: can asset backed notes attract more overseas investors and ease access to funding for SMEs?
        • Emerging non-FI lenders
        • Blockchain and big data: how will this aid small business lending?

        • Jun Qian , Chief Executive Officer (Jupai Investment)
        • Bin Ma , Vice President (China Association of Small and Medium Enterprises)
        • Donglin Tang , Vice President (China Academy of Regional Finance)
        • Vivian Zhang , Managing Director, Head of Securitisation, China (HSBC)

      12:20
      Delegate Luncheon


      Commence Concurrent Tracks A & B


      Track A 13:30
      Securitisation as a Tool for Improving Bank Balance Sheets and Deleveraging

        • Overview of the interbank market and the major issuers
        • Securitisation as a funding tool versus other forms of debt financing: relative value
        • Assessing the need for growing and diversifying the investor base globally

        • Gracie Zhou , Vice President – Senior Analyst, Structured Finance Group (Moody’s Investors Service)
        • Kun Peng , / (China Postal Savings Bank)
        • Yongming Song , Director, Research Department (China Banking Association)
        • Haibiao Lin , President (Ping An Bank (Xiameng Branch))

      Track B 13:30
      Supply Chain Finance and Securitisation

        • What were the main supply chain innovations in China in 2018?
        • Key highlights from the Chinese government’s first supply chain policy paper
        • Emerging technologies, such as blockchain, as a major driver of more secure and trusted SCF models and initiatives
        •  What obstacles to the development of Supply Chain Finance remain?
        • Can securitisation improve access to timely and effective funding and the high funding costs?
        • Overview of the drivers that have accelerated the development of ‘smart’ SCF over the past couple of years: China’s huge market size, pro-SCF policies, corporates’ strong desire to leverage SCF, and emerging new technologies coupled with the rapid development of Big Data

        • Huanli Liu , Member, Expert Committee (China Financial Leasing Research Institute)
        • Hao Zhang , Assistant GM of Debt Financing Dept, Head of Securitization (China Merchants Securities)
        • Chao Bian , Head of Marketing, Fixed Income Dept (Shenzhen Stock Exchange)
        • 健 王 , 总经理 (物产中大集团股份有限公司)
        • Zhuqin He , Chairman (Chegyu Financial Leasing Company)
        • Cheng Wang , Executive Director, Investment Banking Department (CICC)
        • Haiyun Zhang , General Manager, Beijing (Guiyang GYB Financial Leasing Co., Ltd.)

      Track A 14:20
      CLOs as an Onshore Funding Tool and Overseas Investment Opportunity

        • Relative value of foreign- managed CLOs for Chinese investors seeking diversification
        • Outlook for developing a domestic Chinese CLO market
        • CLOs as a funding tool for infrastructure projects and mid-market companies

        • John Wu , Managing Director (Seix Advisors)
        • Jonathan Insull , Managing Director (Crescent Capital Group)
        • 海 王 , 董事总经理兼另类投资部主管 (大成国际资产管理有限公司)
        • Shumin Li , / (Hony Capital)
        • Miroslav Visic , Director, Structured Credit (Gulf Credit Opportunities Fund)

      Track B 14:20
      The Green Bond Forecast

        • Overview of the PBOC published guidelines on green bond issuance and qualifications
        • Motivations for obtaining a green label?
          • Funding cost considerations
          • Investor diversification
          • Alignment with Chinese government policy
        • How do Chinese green qualifications align with international standards?
        • What efforts are underway to harmonise with overseas market standards?
        • Potential for green covered bonds and ABS issuance in the near term

        • Morgan Davis , Reporter (GlobalCapital)
        • Ivy Lau , General Manager China Office (Climate Bonds Initiative)
        • Zhengwei Lu , Chief Economist (Industrial Bank)
        • Yanqi Yang , Chief Financial Officer (Guiyang Public Transportation Group)
        • Zhaowu Zeng , Chief Financial Officer (Capital Environment Holdings Limited)
        • Meng Meng , Chief Executive Officer (Guangzhou Carbon Emission Exchange)
        • Han Zhang , Member (CSRC Green Finance Committee )

      15:10
      Refreshment Break and Networking Time with Conference Exhibitors


      Track A 15:30
      NPL Resolution Strategies and the Role of Securitisation

        • Overview of the current NPL ratio in China and major asset types (real estate, corporate)
        • What support is the government providing to reduce the NPL balance?
        • Various bank strategies for disposing of NPLs and the role of securitisation
        • Estimated issuance volume of NPL ABS in 2019
        • The Rating Agencies' View: Senior note ratings/mezzanine note ratings

        • Jianyung Feng , Managing Director (博思恩资本)
        • Jia Zheng , Director (Fortress Real Estate (HK) limited)
        • Paolo Gabriele , Head of Banks and Financial Institutions (Finanziaria Internazionale)
        • Xin Li , General Manager, Structure Finance Department (China Bond Rating Co., Ltd.)
        • Ge Wu , Executive Partner (德富资产管理有限公司)
        • Qiong Xiao , Deputy General Manager (China Merchants Pingan AMC (Beijing Branch))
        • Yifeng Wang , Country Manager (Avenue Capital Group)

      Track B 15:30
      Funding Existing Commercial Real Estate Portfolios vs. New Construction: Exploring the Role of REITS and ABS

        • In top tier cities such as Beijing and Shanghai, existing commercial properties are seeking to raise capital, which outweighs new construction funding demand.
        • What is the role of the REIT funding mechanism when the need to fund existing property portfolios outweighs new property transactions?

        • 晓欧 陈 , 董事长 (美国富尚(F.O.G)投资集团)
        • 喜明 郑 , 创始人兼董事长 (凯龙瑞集团)
        • 妍 张 , 集团副主席兼联席总裁 (勒泰商业地产有限公司)
        • Yin Rao , Chief Inspector (China Overseas Property)
        • Cristinao Cui , Deputy General Fund Manager (Modern Land (China) Co., Ltd.)
        • Chao Bian , Head of Marketing, Fixed Income Dept (Shenzhen Stock Exchange)

      Track A 16:20
      Key Considerations for the China Domestic Investors


        • Mengzhe Xu , Managing Director (Cyan Bank Investments)
        • Yong Wang , Board Secretary (Yinhua Fund Management Co., Ltd.)
        • 高嵩 李 , 资产证券化副总裁 (中信证券)
        • Yanqiong Huang , / (Bluetone Asset Management Limited)
        • Mingli Chen , General Manager (China Merchants Ping An Asset Management Co., Ltd.)

      Track B 16:20
      Financing Rental Housing and the Role of Securitisation

        • Government has called for more rental housing supply amid sky-high property prices
        • Outlook for the rental housing sector, expectations of policy support and growth
        • Why is venture capital flooding into the sector?
        • Can securitisation help long term rental housing operators develop a sustainable business model for rental housing?
        • Pooling portfolios of rental property into REIT structures

        • Changbin Fang , / (Poly Commercial Real Estate Investment and Management Company Limited)
        • Shiyuan Chen , Senior Vice President & Economist, Strategic Planning and Corporate Development Division (CCB Asia)
        • Jian Cheng , Chief Product Officer (X-Fintech)
        • Bufang Wang , Secretary General, REITS Research Center (China State Council )

      17:10
      The 3rd Annual Global Investors’ Conference on Securitisation in China Concludes


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  • Investor Rate - $195
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Keynote Speakers

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Venue

  • Conference Venue
  • Kerry Hotel Beijing


    o. 1 Guanghua Road
    Chaoyang District
    Beijing,
    China

    Additional Info:

    In order to make a reservation at the discounted rate of CNY 1350 per night for a single deluxe room please use the link above.  Hotel's breakfast buffet is included in the discounted rate.

Speakers


1120 Avenue of the Americas, 6th Floor, New York, NY 10036
Tel: +1(212)901-0506 Fax: +1(212)768-2484
Email: mail@imn.org


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