大会介绍
meeting
The “CCXI 2021 Mid-Year Credit Outlook Conference: China’s credit outlook amid deleveraging drive” hosted by China Chengxin International Credit Rating Co., Ltd.(“CCXI”) will be held on 8th June, 2021 (Tuesday) and 10th June, 2021 (Thursday), at JW Marriott Hotel Beijing Central and Grand Hyatt Shanghai Hotel.
Since 2021, the epidemic in China has been brought under effective control and the continuous recovery of Chinese economy has laid the foundation for the start of the 14th Five-Year Plan, but the basis for economic recovery is not stable. Under the high growth of macroeconomic data, some microcosmic subjects’ difficulties and local financial risks still exist, and external uncertainties continue to exist under the game of big countries and the reconstruction of the globalization pattern. However, in general, we are still in a window period where there is relatively little pressure to stabilize growth. For the sake of risk prevention, macroeconomic policies have been adjusted marginally under the overall tone of maintaining continuity, stability and sustainability, and the credit cycle has shifted to a downward trend.
How will China's macroeconomics policy respond to the post-epidemic economic recovery and global changes? How will the marginal adjustment of policy affect the credit market? What are the effects of economic recovery and marginal contraction of credit on banking and non-bank financial institutions? What is the development trend of LGFVs amid China's deleveraging strategy? From liquidity stratification to credit stratification, how does credit risk of key business sectors evolve? How does the impact of economic recovery and regulatory tightening affect the property market?How to expand asset-backed securitization amid continued reform of the capital market? How will the panda bond market develop under the background of China's accelerated opening-up?
The conference will focus on the above topics and deliver an in-depth discussion and provide you with a risk-based opinions. We sincerely invite you to attend the conference!
大会议程
agenda
BeijingJune 8
ShanghaiJune 10
MC：
- Minhua He, Chief Supervisor of CCXI
-
09:20 – 09:30
Opening Remarks
Speakers：- Yan Yan, Chairman and President of CCXI
- Min Ye, Managing Director - Head of International, Moody’s
-
09:30 – 10:10
Keynote: China’s policy options given mismatches between economic and credit cycles
Speakers：- Zhenhua Mao, Founder of CCX, Chief Economist of CCXI
-
10:10 – 10:30
Tea Break
-
10:30 – 11:00
Keynote: Strong growth prospects, with financial vulnerabilities rising from policy shift
• Financial conditions to improve on likely strong global recovery
• China’s broad recovery to continue while policy gradually shifts toward risk control
• Sovereign credit pressure to rise on higher deficits and modest increase in government debt
• RLGs’ budgetary stress and uneven recovery pace to widen regional credit and economic divergenceDialogues：- Lillian Li, Vice President – Senior Credit Officer, Credit Strategy and Standards, Moody’s
- Martin Petch, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody’s
- Yubin Fu, AVP-Analyst, Sub-Sovereigns Group, Moody’s
-
11:00 – 11:45
Roundtable Discussion: China’s banking system outlook as credit cycle evolves gradually
• Impact of changing macroeconomic policies on credit profiles of Chinese banks
• Credit risk differentiation among Chinese banks amid increasing liquidity stratificationModerators：- Yan Bai, Managing Director of CCXI Financial Institution Rating Department
Speakers：- Yuqi Wen, Director of CCXI Financial Institution Rating Department
- Nicholas Zhu, Vice President – Senior Credit Officer, Financial Institutions Group, Moody’s
- André Du Plessis, CEO, Standard Advisory (China) Limited
-
11:45 – 12:30
Roundtable Discussion: Pitfalls and prospects for non-bank financial institutions amid post-pandemic recovery and credit crunch
• China’s insurance industry: Resilient profitability and capitalization underpin stable outlook
• China’s non-bank financial institutions: Operational and liquidity challenges faced by leasing companies
Moderators：- Han Lv, Vice President of CCXI
Speakers：- Tianyu Xue, Managing Director of CCXI Financial Institution Rating Department
- Yunpeng Zhang, Director of CCXI Financial Institution Rating Department
- Qian Zhu, Vice President – Senior Credit Officer, Financial Institutions Group, Moody’s
- Sean Hung, Vice President – Senior Analyst, Financial Institutions Group, Moody’s
-
12:30 – 13:30
Lunch Break
MC：
- Lei Yang, President of CCXA
-
13:30 – 14:00
Keynote: Prospects for LGFVs amid China's deleveraging strategy
• What is the focus and implications of government's deleveraging strategy
• which kinds of LGFVs will face greater funding pressure and which kinds will benefit from industry consolidation
• As regional differentiation widens, can weaker LGFVs get enough investors’ support to refinance maturing debts?
• Will onshore refinancing pressure transmit to offshore bond markets?Speakers：- YuPing Li, Vice President of CCXI
- Yan Li, Analyst, Corporate Finance Group, Moody’s
-
14:00 – 14:30
Keynote: Property sector: Tighter regulatory and financing conditions
• Impact of economic recovery and regulatory tightening on the property market
• Effects of tightening financial conditions and a centralized land supply policy on the property sector
• Differentiation in credit quality of property companies as the Matthew effect intensifiesSpeakers：- Tianxuan Gong, Managing Director of CCXI Corporate Rating Department
- Cedric Lai, Vice President - Senior Analyst, Corporate Finance Group, Moody’s
-
14:30 – 15:30
Roundtable Discussion: Evolving credit risk of key business sectors: From liquidity stratification to credit stratification
• Trends and key themes of risk evolution of Chinese bond market in 2021
• Risk implication on key business sectors amid post-pandemic recovery and credit stratification
• Funding access and credit profiles of local SOEs and POEs as investors become more risk averseModerators：- Yafang Wang, Vice President of CCXI
Speakers：- Man Shi, Corporate Rating Director of CCXI
- Haixia Yuan, Vice President of CCXI Research Institute
- Shi Li, Managing Director of CCXA
- Lina Choi, Senior Vice President, Corporate Finance Group, Moody’s
- Boris Kan, Vice President – Senior Credit Officer, Project & Infrastructure Finance Group, Moody’s
- Sue Su, Vice President – Senior Analyst, Corporate Finance Group, Moody’s
-
15:30 – 15:40
Tea Break
-
15:40 – 16:40
Roundtable Discussion: Expansion of asset securitization as China’s 14th Five-Year Plan rolls out
• An analysis of the performance of underlying securitized assets
• Potential impact of China’s infrastructure REITs on the sector
• The internationalization of the Chinese securitization market
• Development of asset securitization market as rollout of China’s 14th Five-Year Plan beginsModerators：- Dawei Deng, Vice President of CCXI
Speakers：- Yun Wei, Managing Director of CCXI Structured Finance Department
- Ye Tian, Senior Deputy Director of CCXI Structured Finance Department
- Yinan Zhang, Vice President, Heyi Technology
- Jerome Cheng, Associate Managing Director, Structured Finance Group, Moody’s
- Gracie Zhou, Vice President – Senior Analyst, Structured Finance Group, Moody’s
-
16:40 – 17:40
Roundtable Discussion: Deepening internationalization of Chinese onshore bond market - how to remove the impediments?
• Development of panda bond market
• BMW panda bond-Achivements & Hurdles
• Factors hindering the further opening of China's bond marketModerators：- Ariel Yang, President of CCXA
Speakers：- Christine Zhang, Overseas Business Rating Director of CCXI
- Tim Yip, Director, Head of Debt Markets, HSBC Bank (China)
- Lei Zhu, Co-Head of Fixed Income Asia, Credit Suisse Asset Management
-
17:40
Closing
MC：
- Jinhong Shao, Executive Vice President of CCXI, CEO of CCX AP
-
09:20 – 09:30
Opening Remarks
Speakers：- Minhua He, Chief Supervisor of CCXI
- Min Ye, Managing Director - Head of International, Moody’s
-
09:30 – 10:10
Keynote: Challenges and risks in the face of China's uneven economic recovery
Speakers：- Yan Yan, Chairman and President of CCXI
-
10:10 – 10:30
Tea Break
-
10:30 – 11:00
Keynote: Strong growth prospects, with financial vulnerabilities rising from policy shift
• Financial conditions to improve on likely strong global recovery
• China’s broad recovery to continue while policy gradually shifts toward risk control
• Sovereign credit pressure to rise on higher deficits and modest increase in government debt
• RLGs’ budgetary stress and uneven recovery pace to widen regional credit and economic divergenceDialogues：- Lillian Li, Vice President – Senior Credit Officer, Credit Strategy and Standards, Moody’s
- Martin Petch, Vice President - Senior Credit Officer, Sovereign Risk Group, Moody’s
- Yubin Fu, AVP-Analyst, Sub-Sovereigns Group, Moody’s
-
11:00 – 11:45
Roundtable Discussion: China’s banking system outlook as credit cycle evolves gradually
• Impact of changing macroeconomic policies on credit profiles of Chinese banks
• Credit risk differentiation among Chinese banks amid increasing liquidity stratificationModerators：- Qian Zhu, Vice President – Senior Credit Officer, Financial Institutions Group, Moody’s
Speakers：- Yuqi Wen, Director of CCXI Financial Institution Rating Department
- Teng Fei, Director of CCXI Financial Institution Rating Department
- Yulia Wan, Vice President – Senior Analyst, Financial Institutions Group, Moody’s
- 外部嘉宾
-
11:45 – 12:30
Roundtable Discussion: Pitfalls and prospects for non-bank financial institutions amid post-pandemic recovery and credit crunch
• China’s insurance industry: Resilient profitability and capitalization underpin stable outlook
• China’s non-bank financial institutions: Operational and liquidity challenges faced by leasing companies
Moderators：- Yulia Wan, Vice President – Senior Analyst, Financial Institutions Group, Moody’s
Speakers：- Tianyu Xue, Managing Director of CCXI Financial Institution Rating Department
- Yunpeng Zhang, Director of CCXI Financial Institution Rating Department
- Qian Zhu, Vice President – Senior Credit Officer, Financial Institutions Group, Moody’s
- Sean Hung, Vice President – Senior Analyst, Financial Institutions Group, Moody’s
-
12:30 – 13:30
Lunch Break
MC：
- Qiuping Xie, CEO of CCXA
-
13:30 – 14:00
Keynote: Prospects for LGFVs amid China's deleveraging strategy
• What is the focus and implications of government's deleveraging strategy
• which kinds of LGFVs will face greater funding pressure and which kinds will benefit from industry consolidation
• As regional differentiation widens, can weaker LGFVs get enough investors’ support to refinance maturing debts?
• Will onshore refinancing pressure transmit to offshore bond markets?Speakers：- Jun Wang, Vice President of CCXI
- Sarah Xu, Assistant Vice President - Analyst, Corporate Finance Group, Moody’s
-
14:00 – 14:30
Keynote: Property sector: Tighter regulatory and financing conditions
• Impact of economic recovery and regulatory tightening on the property market
• Effects of tightening financial conditions and a centralized land supply policy on the property sector
• Differentiation in credit quality of property companies as the Matthew effect intensifiesSpeakers：- Tianxuan Gong, Managing Director of CCXI Corporate Rating Department
- Cedric Lai, Vice President - Senior Analyst, Corporate Finance Group, Moody’s
-
14:30 – 15:30
Roundtable Discussion: Evolving credit risk of key business sectors: From liquidity stratification to credit stratification
• Trends and key themes of risk evolution of Chinese bond market in 2021
• Risk implication on key business sectors amid post-pandemic recovery and credit stratification
• Funding access and credit profiles of local SOEs and POEs as investors become more risk averseModerators：- Li Ma, Managing Director, Corporate Finance Group, Moody’s
Speakers：- Shi Li, Managing Director of CCXA
- Lilan Wu, Vice President of CCXI
- Aodi Yang, Corporate Rating Director of CCXI
- Kai Hu, Senior Vice President, Corporate Finance Group, Moody’s
- Lina Choi, Senior Vice President, Corporate Finance Group, Moody’s
- Boris Kan, Vice President – Senior Credit Officer, Project & Infrastructure Finance Group, Moody’s
-
15:30 – 15:40
Tea Break
-
15:40 – 16:40
Roundtable Discussion: Expansion of asset securitization as China’s 14th Five-Year Plan rolls out
• An analysis of the performance of underlying securitized assets
• Potential impact of China’s infrastructure REITs on the sector
• The internationalization of the Chinese securitization market
• Development of asset securitization market as rollout of China’s 14th Five-Year Plan beginsModerators：- Yang Pang, Chief Executive Officer, Heyi Technology
Speakers：- Li Wang, Managing Director of CCXI Structured Finance Department
- Yanhui Ma, Managing Director of CCXI Structured Finance Department
- Yinan Zhang, Vice President, Heyi Technology
- Jerome Cheng, Associate Managing Director, Structured Finance Group, Moody’s
- Gracie Zhou, Vice President – Senior Analyst, Structured Finance Group, Moody’s
-
16:40
Closing
View all agenda
Put away
大会嘉宾
distinguished guest
{{ jiabinItem.name }}
主办方
organisers
赞助方
Sponsor
往届回顾
Previous Events
{{ jiabinItem.name }}