Hong Kong Institute for Monetary Research

Eighth Annual International Conference on the Chinese Economy

“China’s Economic Rebalancing: Where is it Heading?”

12 January 2017 (Thursday) - 13 January 2017 (Friday)

5601, 56/F, Two IFC, Central, Hong Kong

Programme


12 January 2017
8:30 - 9:00 Registration and Welcome Coffee

9:00 - 9:10 Welcome Remarks

Lillian Cheung (Hong Kong Monetary Authority and Hong Kong Institute for Monetary Research)

Morning Session Chaired by Lillian Cheung (Hong Kong Monetary Authority and Hong Kong Institute for Monetary Research)

Session 1 China’s Economic Rebalancing

9:10 - 10:10 A Rebalancing Chinese Economy: Domestic and International Implications
Ivan Roberts* (Reserve Bank of Australia)
Guonan Ma (Bruegel)
Gerard Kelly (Reserve Bank of Australia)

Discussant: Jenny Xu (Hong Kong University of Science and Technology)

paper-1.zip
10:10 - 11:10 China’s Financial System and Economic Imbalances
Yikai Wang* (University of Oslo)
Xi Li (Hong Kong University of Science and Technology)

Discussant: Guonan Ma (Bruegel)

paper-2.zip
11:10 - 11:40 Coffee Break



11:40 - 12:40 Leveraging China’s Industrial Upgrading and Renminbi Internationalization
Chin-Yoong Wong* (Universiti Tunku Abdul Rahman, Malaysia)
Yoke-Kee Eng (Universiti Tunku Abdul Rahman, Malaysia)

Discussant: James Yetman (Bank for International Settlements)

3s_chin-yoong-wong.pdf
12:40 - 13:40 Lunch (By invitation only)



Afternoon Session Chaired by Hongyi Chen (Hong Kong Institute for Monetary Research)

Session 2 China’s Structural Reform and International Spillovers

13:40 - 14:40 The Diffusion and Dynamics of Producer Prices, Deflationary Pressure across Asian Countries, and the Role of China
Michael Funke* (Hamburg University)
Hongyi Chen (Hong Kong Institute for Monetary Research)
Andrew Tsang (Hong Kong Institute for Monetary Research)

Discussant: David Cook (Hong Kong University of Science and Technology)

paper-4.zip
14:40 - 15:40 China’s current account: External Rebalancing or Capital Exodus?
Anna Wong* (Board of Governors of the Federal Reserve System)

Discussant: Tao Wang (UBS)

paper-5.zip
15:40 - 16:10 Coffee Break



Session 3 Renminbi Exchange Rate

16:10 - 17:10 Fluctuation and Intervention: A Tale of Two RMB Markets
Kang Shi (Chinese University of Hong Kong)
Yousha Liang (Chinese University of Hong Kong)
Lisheng Wang* (Chinese University of Hong Kong)
Juanyi Xu (Hong Kong University of Science and Technology)

Discussant: Mali Chivakul (European Central Bank)

paper-6.zip
17:10 - 18:10 The Renminbi Central Parity: An Empirical Investigation
Yin-Wong Cheung* (City University of Hong Kong)
Cho-Hoi Hui (Hong Kong Monetary Authority)
Andrew Tsang (Hong Kong Institute for Monetary Research)

Discussant: Kang Shi (Chinese University of Hong Kong)

paper-7.zip
18:30 Conference Dinner (By invitation only)



13 January 2017
8:30 - 9:00 Registration and Coffee

Morning Session Chaired by Matthew Yiu (Hong Kong Institute for Monetary Research)

Session 4 Monetary Policy Framework and Optimal Stabilization Policy

9:00 - 10:00 Reserve Requirements and Optimal Chinese Stabilization Policy
Zheng Liu (Federal Reserve Bank of San Francisco)
Chun Chang (Shanghai Jiao Tong University)
Mark M. Spiegel* (Federal Reserve Bank of San Francisco)
Jingyi Zhang (Shanghai Jiao Tong University)

Discussant: Feng Zhu (Bank for International Settlements)

8s_mark-spiegel.pdf
10:00 - 11:00 Monetary Regime Choice in China: Policy Rules for Navigating Dark Corners
Paul McNelis* (Fordham University)
Hongyi Chen (Hong Kong Institute for Monetary Research)

Discussant: Zheng Liu (Federal Reserve Bank of San Francisco)

paper-9.zip
11:00 - 11:30 Coffee Break



Session 5 China Monetary Policy Transmissions

11:30 - 12:30 The Effects of Monetary Policy Surprises in China
Gunes Kamber* (Bank for International Settlements)
Madhusudan Mohanty (Bank for International Settlements)

Discussant: Yue Ma (City University of Hong Kong)

10d_yue-ma.pdf
12:30 - 13:30 Impact of Chinese Monetary Policy Instruments on Bank Lending Activities
Sally Chen* (International Monetary Fund)

Discussant: Jian Wang (Chinese University of Hong Kong – Shenzhen)

paper-11.zip
* presenter
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