Following the successful launch of the first global conference in Hong Kong on May 20^th, the "IFF2015 China Report" jointly published by the International Finance Forum (IFF) and the British "Central Bank" magazine was held on June 9, 2015 in John Washington, USA. The Hopkins University Institute for Advanced Studies held its second global conference. This original English report contains views and opinions from more than 20 senior Chinese policymakers on China's economic transformation and China's position in the international monetary system. The report reveals some of China's top policymakers' long-term strategic thinking about the “new normal” of China's economy, including how to address challenges from the law and strong vested interests. The report also explored the “Belt and Road” strategy proposed by General Secretary Xi Jinping. At the same time, in response to the current China's gradual liberalization of the government's control over the economy, the opening and support of market forces, while avoiding excessive short-term stimulus, the report put forward some corresponding views.
 

"IFF2015 China Report" Washington Global Conference Site

At present, China plays an indispensable and important role in the global economic operation. The Chinese government is actively promoting the establishment of new international multilateral institutions with a “Chinese background”, such as the New Development Bank (BRIC) and the Asian Infrastructure Investment Bank (AIIB), which will work with the existing IMF and The Bretton Woods institutions represented by the World Bank and the regional development banks such as the Asian Development Bank and the European Bank for Reconstruction and Development actively cooperate.

 

The report also provides insights from Chinese policymakers on how to deepen the role of the market, including advancing IPO and OTC reforms while ensuring that the banking system remains profitable. Special attention is paid to the internationalization of the renminbi and China's role in the development of the international monetary system.

 

The IFF2015 China Report is divided into four parts, including four feature articles written by Xiao Wei, Dean of the International Finance Forum (IFF), Vice President Wang Yan, and Cui Li. Interviews with senior Chinese policy makers and Other related contributions.

These four parts include:

 

1. China's growth model transformation

 

2. Financial deepening and market reform

 

3. International trade, investment and development cooperation

 

4. Renminbi and the international monetary system

 

Interviews with 7 senior Chinese policy makers

 

1. Gao Hucheng, Minister of Commerce, expressed his views on China's “One Belt, One Road” strategy.

 

2. Minister of Finance Lou Jiwei commented on local government debt and tax reform.

 

3. Vice Minister of Finance Zhu Guangyao's views on global financial regulation, the monetary policy of the United States and the euro, and the reform of the International Monetary Fund.

 

4. Zhou Xiaochuan, Governor of the People's Bank of China, expressed his views on interest rate reform and the internationalization of the RMB.

 

5. Xiao Gang, Chairman of the China Securities Regulatory Commission, on the idea of ​​deepening capital market reform.

 

6. Shang Fulin, Chairman of the China Banking Regulatory Commission, on the reform of the bank's profit model and the handling of non-performing loans.

 

7. China's new foreign exchange system proposed by Yi Gang, director of the State Administration of Foreign Exchange.

 

Washington conference

 

International Finance Forum (IFF) Institute and Johns Hopkins University

 

International Institute for Advanced Studies (SAIS) Cooperation Seminar

 

Theme: China's recent reforms and IFF and central bank magazine jointly published the "IFF2015 China Report" conference

 

Venue: John Hopkins University Roman House Auditorium, 1619 Massachusetts Avenue

 

Date: June 9, 2015 9:00 - 11:30 (Tuesday)

 

Main guest

 

David M. Lampton / Director, China Program, Johns Hopkins University Institute for Advanced Studies, former Chairman of the National Committee on US-China Relations

 

Pieter Bottelier / Professor, Johns Hopkins University Institute for Advanced Studies, former World Bank representative in China

 

Nicholas R. Lardy / Senior Research Fellow, Peterson Institute for International Economics

 

Jin Zhongxia / International Finance Forum (IFF) Academic Committee, International Monetary Fund (IMF) China Executive Director

 

Dan Wright / Chairman and CEO of Green Point Strategy Consulting, former Executive Director of the China-US Strategic and Economic Dialogue

 

Wei Olin / International Finance Forum (IFF) Consultant, Chairman of Wei's International, former Chairman of American International Group China

 

Xiao Geng / Executive Dean of the International Finance Forum (IFF) Institute, Professor of Finance and Public Policy Practice at the University of Hong Kong

 

Wang Yan / Associate Dean of the International Finance Forum (IFF) Research Institute, former senior economist at the World Bank, visiting professor at George Washington University

 

Ted Chu / Chief Economist, International Finance Corporation (IFC)
 

 

Xiao Wei, Executive Dean of the International Finance Forum (IFF) Institute, introduced the "IFF2015 China Report" to the guests.
 

 

 

Wang Yan, Vice President of the International Finance Forum (IFF) Research Institute, delivered a speech at the press conference