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The interplay between finance and macroeconomics in China provides a fascinating opportunity for new research. While financial markets are still fast growing and expanding their territory in China, the Chinese economy has been very innovative in advancing financial technologies. The special role of the Chinese government at both the local and national levels in financial activities has broad-reaching implications for macroeconomic performance and growth prospects in the future. This conference will bring together elite scholars to explore the extent of our current understanding and the challenges for future research related to Chinese financial markets and their applications more broadly.

Registration is required to attend. To register, please email conferencersvp@bfichina.cn.

FUNDED BY

Agenda

Thursday, December 12, 2019

Sessions held in Shunde Building, Room 418 unless otherwise noted.

9:00 am - 9:30 am
Registration
9:30 am - 9:45 am
Opening Remarks
Lars Peter Hansen, Professor of Economics, University of Chicago; Winner of 2013 Nobel Prize in Economics
Chong-En Bai, Dean, School of Economics and Management (SEM) at Tsinghua University
9:45 am - 10:45 am
Financial Frictions and the Persistence of History: An Analytical Framework
Pengfei Wang (Presenter), Professor of Economics, Hong Kong University of Science & Technology
10:45 am - 11:45 am
Pledgeability and Asset Prices: Evidence from the Chinese Corporate Bond Markets
Hui Chen (Presenter), Associate Professor of Finance, MIT
Zhuo Chen, Assistant Professor of Finance, Tsinghua University
Zhiguo He, Professor of Finance, University of Chicago
Jinyu Liu, Assistant Professor in Finance, University of International Business and Economics
Rengming Xie, Independent
11:45 am - 1:00 pm
Lunch
1:00 pm - 2:00 pm
Conglomeration and Capital Allocation in China
Zheng Michael Song (Presenter), Professor of Economics, University of Hong Kong
2:00 pm - 4:00 pm
Break
4:00 pm - 5:30 pm
Policy Forum: Challenges in Finance and the Macroeconomy in China

Weilun Building Auditorium

Lars Peter Hansen (Moderator), Professor in Economics, University of Chicago; Winner of 2013 Nobel Prize in Economics
Thomas Sargent, Professor of Economics, New York University; Winner of 2011 Nobel Prize in Economics
Lou Jiwei, Former Minister of Finance, Former Chairman of the National Council for Social Security Fund
Chenggang Xu, Professor of Economics, Cheung Kong Graduate School of Business
Henry Zhao, Chairman of Harvest Fund
5:30 pm - 5:45 pm
Policy Forum Panel Q&A

Weilun Building Auditorium

7:00 pm - 9:00 pm
Conference Dinner
Friday, December 13, 2019
8:00 am - 8:30 am
Registration
8:30 am - 9:30 am
Topic TBD
Zhiguo He (Presenter), Professor of Finance, University of Chicago
9:30 am - 10:00 am
Break
10:00 am - 11:00 am
The Chinese Stock Market and Macroeconomy
Franklin Allen (Presenter), Professor of Finance and Economics, Imperial College London
11:00 am - 12:30 pm
Lunch
12:30 pm - 1:30 pm
Do Internet Finance Platforms Mitigate Against Conflict of Interest? Evidence from Mutual Fund Investment in China
Shang-Jin Wei (Presenter), Professor of Chinese Business and Economy and Professor of Finance and Economics, Columbia University
1:30 pm - 2:00 pm
Break
2:00 pm - 3:00 pm
The Mandarin Model of Growth
Wei Xiong (Presenter), Professor in Finance and of Economics, and Research Associate, Princeton University & NBER
3:00 pm - 3:30 pm
Break
3:30 pm - 4:30 pm
Optimal Capital Account Liberalization in China
Zheng Liu (Presenter), Senior Research Advisor and Director of Center for Pacific Basin Studies, Federal Reserve Bank of San Francisco
Mark M. Spiegel, Vice President, Economic Research Department, Federal Reserve Bank of San Francisco
Jingyi Zhang, Associate Professor, School of Economics, Shanghai University of Finance and Economics
4:30 pm - 5:00 pm
Closing Remarks