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Organized by Global Research Unit, Department of Economics & Finance, City University of Hong Kong, Bank of Finland Institute for Economies in Transition (BOFIT), and Gabelli School of Business, Fordham University

By invitation only

Programme

TUESDAY, 20 AUGUST 2019

9:00–9:30 Coffee & Registration

9:30–9:40 Opening remarks: Tuomas Välimäki (Bank of Finland)

Session 1: Integration of China into the global economy
Chair: Iikka Korhonen (Bank of Finland Institute for Economies in Transition, BOFIT)

9:40–10:30 Bilateral Swap Agreement and Renminbi Settlement in Cross-Border Trade
Le Xia (BBVA)
Song Ke (Renmin University of China)
Discussant: Iikka Korhonen (Bank of Finland Institute for Economies in Transition, BOFIT)

10:30–11:20 Off-Shore Fears and On-Shore Risk: Exchange-Rate Pressures and Banking Contagion in China
Paul McNelis (Fordham University)
Jennifer Te Lai ( School of Finance, Guangdong University of Foreign Studies)
Discussant: Le Xia (BBVA)

11:20–11:50 Coffee break

11:50–12:40 Assessing the global impact of the Chinese economy
Risto Herrala (Bank of Finland)
Fabrice Orlandi (European Commission)
Discussant: Mark Spiegel (Federal Reserve Bank of San Francisco)

12:40–14:00 Lunch

Session 2: Structure of China's economy
Chair: Laura Solanko (Bank of Finland Institute for Economies in Transition, BOFIT)

14:00–14:50 Bank Competition and Industrial Structure: Evidence from China
Liping Lu (VU University Amsterdam)
Di Gong (University of International Business and Economics)
Weixing Wu (University of International Business and Economics)
Fan Zhou (University of International Business and Economics)
Discussant: Laurent Weill (University of Strasbourg)

14:50–15:40 Ownership Network and Firm Growth: What Do Five Million Companies Tell About Chinese Economy
Xian Gu (Central University of Finance and Economics)
Franklin Allen (Imperial College London)
Junhui Cai (University of Pennsylvania)
Jun "QJ" Qian (Fanhai International School of Finance, Fudan University)
Linda H. Zhao (University of Pennsylvania)
Wu Zhu (University of Pennsylvania)
Discussant: Karlo Kauko (Bank of Finland Institute for Economies in Transition, BOFIT)

 

WEDNESDAY, 21 AUGUST 2019

Session 3: China's monetary policy
Chair: Yin-Wong Cheung (City University of Hong Kong)

9:00–9:50 The direction and intensity of China's monetary policy conduct: A dynamic factor modelling approach
Michael Funke (Hamburg University)
Discussant: Fabio Verona (Bank of Finland)

9:50–10:40 What Does Peer-to-Peer Lending Evidence Say About the Risk-taking Channel of Monetary Policy?
Xiang Li (Halle Institute for Economic Research)
Yiping Huang (Peking University)
Chu Wang (Peking University)
Discussant: Zuzana Fungáčová (Bank of Finland Institute for Economies in Transition, BOFIT)

10:40–11:10 Coffee break

11:10–12:00 Shadow Banking and the Bank Lending Channel of Monetary Policy in China
Yabin Wang (Hong Kong Monetary Authority)
Xiaoqiang Cheng (Hong Kong Monetary Authority)
Discussant: Xian Gu (Central University of Finance and Economics)

12:00–13:00 Lunch

Session 4: China's capital market and capital market liberalization
Chair: Iftekhar Hasan (Fordham University)

13:00–13:50 Optimal Capital Account Liberalization in China
Mark Spiegel (Federal Reserve Bank of San Francisco)
Zheng Liu (Federal Reserve Bank of San Francisco)
Jingyi Zhang (Federal Reserve Bank of San Francisco)
Discussant: Riikka Nuutilainen (Bank of Finland Institute for Economies in Transition, BOFIT)

13:50–14:40 Geographic Spread of Currency Trading: The Renminbi and Other EM Currencies
Yin-Wong Cheung (City University of Hong Kong)
Robert McCauley (Bank for International Settlements)
Discussant: Yabin Wang (Hong Kong Monetary Authority)