China has been facing a series of major questions in the process of integration into the global financial system. These questions include: What are China’s objectives and procedures for integrating into the global financial system? What are the benefits and risks for China involved in this integration? What’s the relationship between the integration between China and the world on the one hand, and the reform of international monetary system on the other? What’s the relationship between the integration of China with the world and China’s economic transition? Etc. To answer these questions, the Shanghai Development Research Foundation (SDRF) and The Institute of New Economic Thinking (INET) have together launched a multi-year research project “China and Global Financial System”.
Together INET and SDRF have chosen five distinct research topics for consideration in the first phase of the project.Research on each common topic is being conducted by Chinese and foreign researchers separately. As of the end of July, both sides have completed a number of working papers. To assess the progress of the research, the two institutions decided to hold “China and World Financial System” International Forum on 6th and 7th of August, 2015 in Shanghai.
On the first day of the seminar, both sides will submit the results of their research and exchange their views. For the second morning, the discussion topic is “Financial Reform, Stability and Regulation: Global and Chinese Perspectives.” Participants will discuss a series of questions related to the recent dramatic fluctuations of the Chinese stock market. Among the questions that will be addressed are such issues as: Where and how a line should be drawn between market functioning and government intervention in the financial market？How should China consider the tempoand sequence of financial reform, and the balance between market maturity and compatible regulations, and the speed of international integration？What lessons and experiencescan we learn from mature mechanisms in foreign capital markets？
AGENDA
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6th of August, 2015 |
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08:30 – 09:00 |
Registration |
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09:00 – 09:25 |
Opening Remarks:
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Part Ⅰ： |
Reviewing outcomes of the research project |
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09:25 – 10:55 |
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09:25 – 09:55 |
“Central bank swap line: its impact to international monetary system”
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09:55 – 10:25 |
“Elasticity and Discipline in the Global Swap Network”
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10:25 – 10:55 |
Discussion |
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10:55 – 11:10 |
Coffee Break |
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11:10 – 12:40 |
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11:10 – 11:40 |
“Endogenous credit, global liquidity and instability in financial markets”
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11:40 – 12:10 |
“Debt, Endogenous Money, and Financial Instability”
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12:10 – 12:40 |
Discussion |
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12:40 – 14:15 |
Lunch (City Bistro, the 2nd Floor, Shanghai Marriott Hotel) |
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14:15 – 15:45 |
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14:15 – 14:45 |
“Constrains for reinforcing SDR’s position and usages”
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14:45 – 15:15 |
“What Future for the SDR?”
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15:15 – 15:45 |
Discussion |
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15:45 – 16:00 |
Coffee Break |
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16:00 – 18:00 |
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16:00 – 16:30 |
“Costs and benefits of reserve currency status: historical and theoretical analysis”
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16:30 – 17:00 |
“Experiences and lessons of regional financial cooperation in the past: implications to BRICS CRA””
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17:00 – 17:30 |
“Future cooperation and interest orientation of China and the United States in the reform of international monetary system”
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17:30 – 18:00 |
Discussion |
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18:15 |
Meeting at the entrance of the hotel and go out for dinner |
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7th of August, 2015 |
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Part Ⅱ: Financial Reform, Stability and Regulation: Global and Chinese Perspectives
Participants are going to discuss about a series of questions related to the dramatic fluctuation of Chinese stock market occurred recently such as: Where and how a line should be drawn between market functioning and government intervention in the financial market？How to get grasps of the tempo of financial reform, and the balance between market maturity and compatible regulations？What lessons and experiences we can learn from mature mechanisms in foreign capital markets？
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09:00 – 09:20 |
Speech: TU Guangshao Executive Vice Mayor of Shanghai |
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09:20 – 10:00 |
Spokesmen: “The structure of China’s money markets, and implications for liquidity”
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“Coordination of monetary policies and regulatory policies”
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“Systemic implications of securities regulation”
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10:00 – 10:30 |
Discussion |
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10:30 – 10:45 |
Coffee Break |
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10:45 – 11:45 |
Spokesmen: “Financial Liberalization V.S. Financial Stability”
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“China's current economic situation and the reform of the international monetary system”
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“Effective Securities Regulation -- A Clinical Analysis”
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“Correctly summarizing domestic and international experience and lessons, steadily push financial reform forward”
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11:45 – 12:15 |
Discussion |
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12:15 – 12:30 |
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12:30 |
Lunch |
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