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·Is oil price overly adjusted?
·What is the way out for basic industry?
·Which plays a bigger role, speculation or production demands?
·Will the emerging market become the last straw for commodities?

LU Feng, Deputy Director, National School of Development, Peking University
Andy XIE, Guest Economist, CAIJING; Director, Rosetta Stone Capital Ltd.
WANG Binghua, Chairman, State Nuclear Power Technology Corporation Ltd.
Anthony LOO, Managing Director, Rio Tinto China and Rio Tinto Asia
Fred HU, Managing Director and Chairman of Greater China, Goldman Sachs
ZHOU Fangsheng, Deputy Director-General, Bureau of Enterprise Reform, State-owned Assets Supervision and Administration Commission of the State Council, P. R. China
Vivek TULPULE, Chief Economist, Rio Tinto

Moderator：ZHAO Jianfei, Editor, Industry and Corporate Desk, CAIJING Studio 1＆2＆3 JW Marriott Panel II: Challenges for Enterprises: Focus and Strategy
Chinese companies are facing life and death challenges as international demands drop, a test that forces Chinese economy to expedite its restructuring process. Different enterprises have different agenda. It is a life-or-death decision whether to take the challenges or to ignore.

·Is a survival likely? How?
·Which is fatal, RMB appreciation or cost hiking?
·Pains and expectations for shifting to domestic market
·Is M&A a way out?
·How to solicit financing?

BAO Yujun, Chairman, All-China Society of Private Economy Research, P. R. China
ZHANG Kehui, CFO, China Shenhua Energy Company Limited
Chris LU, Chief Executive Officer, Deloitte China
K.Y. LEE, Chairman, BenQ Group
KAN Kaili, Professor, School of Economics & Management, Beijing University of Posts & Telecommunications
Marjorie YANG, Chairman, Esquel Group

Moderator：WANG Xiaobing, Executive Editorial Board Member, CAIJING 10:40-10:50 Tea Break 10:50-12:00 Studio 1＆2＆3 Panel III: New Mission for Fiscal and Tax Policies
Fiscal income grows three times that of the GDP in this hardest year for the Chinese economy. Fiscal spending bears grave tasks given the economic slow-down: what would be the impact of the four trillion stimulus package? How shall the taxation reform help to optimize income allocation, enhance corporate efficiency and control administrative spending? Is massive tax reduction necessary? Where are the opportunities for private sector investment given the massive government spending? Fiscal spending may fundamentally boost the domestic market if properly utilized in healthcare reform, social security, and education.

·What can fiscal spending achieve?
·Fiscal transformation: direction and process
·Prospects for taxation reform and tax reduction
·How to balance fiscal and private revenues?
·Social security system and fiscal spending

JIA Kang, Director, Research Institute for Fiscal Science, Ministry of Finance, P. R. China
XU Shanda, Former Vice-Commissioner, the State Administration of Taxation, P. R. China
NI Hongri, Research Fellow, Development Research Center of the State Council, P. R. China
LIU Kegu, Former Deputy Governor, China Development Bank
GAO Peiyong, Deputy Director, Institute of Finance and Trade Economics, Chinese Academy of Social Sciences
Leon BRITTAN, Former Vice President, European Commission; Vice Chairman, UBS Investment Bank

Moderator：YE Weiqiang, Executive Editorial Board Member, CAIJING Studio 4＆5＆6,JW Marriott Panel IV: Great Opportunities for Rural Development
The construction of new villages brought unprecedented opportunity for the rural area, while the flow of peasant laborers into cities has expedited the urbanization process. How could initiatives conveyed in the third plenary session of the 17th CPC National Congress be carried through on operational levels? How to ensure the rural land operational rights, as a basis of rural development, do not change over the long term? How to reform existing expropriation mechanism and limit the scope of expropriation? What is the balance among urbanization, industrialization and the protection of peasants’ interests?

·Rural areas, agriculture and peasants: growth engine in the future
·Construction of new villages and migration of peasant laborers into cities
·How to increase peasants’ income?
·Rural consumption: a dream or a reality?

HUANG Qifan, Executive Vice Mayor, Chongqing Municipal Government, P. R. China
LI Tie, Director General, China Center for Town Reform and Development, National Development and Reform Commission, P. R. China
LIU Shouying, Senior Research Fellow, Research Department of Rural Economy, Development Research Center of the State Council, P. R. China
TANG Min, Deputy Secretary General, China Development Research Foundation
FU Zetian, Vice President, China Agricultural University
SONG Hongyuan, Director, Research Center for Rural Economy, Ministry of Agriculture, P. R. China

Moderator：ZHANG Jin, Associate Editor, CAIJING 12:00-13:00 Lunch 13:00-13:30
Studio 1＆2＆3 Keynote Speech and Dialogue
WU Dingfu, Chairman, China Insurance Regulatory Commission

Moderator：ZHANG Jiwei, Associate Editor, CAIJING
　　　　SHEN Minggao, Chief Economist, CAIJING 13:30-14:40
Studio 1＆2＆3 Financial Summit I: Banking：The global financial turmoil has little if any impact on the Chinese commercial banks. We should understand that we scarcely know anything about the international market while being grateful for our luck. Chinese banks have become stronger financially and sounder in corporate governance thanks to restructuring, capital injection, and introduction of strategic investors, and IPO. However, there is still a long way to go for Chinese banks.

·New competitive landscape of the Chinese banking sector
·Interest deregulation
·The core underpinning asset safety, liquidity and profitability
·Improve corporate governance in banks
·Continue stock reforms of banks
·Internationalization of Chinese banks in both directions
CAI E’sheng, Vice Chairman, China Banking Regulatory Commission
YANG Kaisheng, Vice Chairman, Executive Director and President, Industrial and Commercial Bank of China Limited
MA Weihua, Executive Director, President and Chief Executive Officer, China Merchants Bank Co., Ltd.
WANG Jun, Lead Financial Sector Specialist, East Asia and Pacific Region, the World Bank
Jackson CHEUNG, Chief Executive Officer, Societe Generale (China) Limited
Erik BERGLOF, Chief Economist, European Bank for Reconstruction and Development

Moderator：LING Huawei, Editorial Board Member, News Center; Editor, Financial Desk, CAIJING 14:40-15:50
Studio 1＆2＆3 Financial Summit II: Securities & Insurance
The Chinese capital market is geared for a new start for stable development after the ups and downs when conforming non-liquid equities. Issues like innovation and regulation, investor protection and fund raising, opening up and multi-tiered market structure, system build-up and market stabilization, etc. call for concerted efforts of all market participants.

Insurance and securities sectors have been always sharing prosperity and downturns. Risk control and regulation in the insurance sector are critical. How to strike a balance between innovation and regulation is a common challenge for both securities and insurance sectors.

·Securities market in China: growth and maturity
·Merits and demerits of conforming non-liquidity shares
·Insurance investment return: a test for strength
·Innovation and regulation
·Build a multi-tiered capital market
·Opening-up: merits and demerits
·Risk management: a challenge

QI Bin, Director-General, Research Center, China Securities Regulatory Commission
Ted TOKUCHI, Managing Director and Head of Investment Banking Division, CITIC Securities Company Limited
WU Gaolian, President, China Reinsurance (Group) Corporation
MIAO Jianmin, Vice President, China Life Insurance (Group) Company; Executive Chairman, China Life Asset Management Co., Ltd
ZHANG Yiqing, Senior Advisor to Global Investment, National Council for Social Security Fund of China
CAI Jinyong, Chief Executive Officer, Goldman Sachs Gao Hua Securities Company Limited<>br
Moderator：LI Jian’ge, Chairman, China International Capital Corporation Limited 15:50-16:30 Tea Break 16:00-17:30
Studio 1＆2＆3 World Financial Crisis and New International System
International financial crisis has changed the power equilibrium of world political and economic balance, seeing developed nations suffer significantly and emerging markets rising to attention. The market is left with huge room for imagination whether the dominating power of US dollar is gone and how much say can RMB gather. Will the US relinquish unilateralism to resort to consultations on the international arena in the Obama regime? However, protectionism still lingers around against the backdrop of recession. Whether there will be changes in the world political and economic arena after the turmoil is something worth expecting, albeit also in doubt.

·Origin of the financial crisis
·Establishment of a global coordination and regulatory mechanism
·RMB: regionalization and internationalization
·Sino-US relations in Obama regime and international political landscape
·G20 summit and prospect of the new Bretton Woods system

WU Jinglian, Senior Research Fellow, Development Research Center of the State Council, P. R. China
Leon BRITTAN, Former Vice President, European Commission; Vice Chairman, UBS Investment Bank
Richard PORTES, Professor of Economics, London Business School
Daniel ROSEN, Visiting Fellow, the Peterson Institute for International Economics
Patrick KENARY, Head of Portfolio Strategy, Man Investments
J. Stapleton ROY, Director, the Kissinger Institute on China and the United States
LONG Yongtu, Secretary-General, Boao Forum for Asia

Moderator：WANG Shuo, Managing Editor, CAIJING 17:30-18:00
Studio 1＆2＆3 Closing and Keynote Speech
ZHOU Xiaochuan, Governor, the People’s Bank of China

Moderator：HU Shuli, Editor, CAIJING 18:30-20:30
The Grand Ballroom The Ritz Carlton The Night of CAIJING Concert (By invitation only)

Presented by CAIJING Magazine & CAIJING.COM.CN

Washington DC, USA January 13th, 2009（Tuesday） The Brookings Institution, Falk Auditorium, 1775 Massachusetts Ave. NW. Washington. DC
	As the world economy in 2008 trended downward, China faced its own challenges even as it marked the 30th anniversary of its Reform and Opening-Up Policy. Looking ahead to 2009, what will be the impact of the global economic crisis on China? Will China continue to grow at its current pace? Can China’s political, economic, and social system be efficiently restructured?
	This year’s CAIJING Annual Conference will address these and other essential questions from the perspective of world opinion leaders.
	The year 2008 also witnessed the 10th Anniversary of CAIJING Magazine.
Program:
08:00 – 09:10	Breakfast Roundtable (Invitation only)
Venue: The Mansion; 2020 O Street, NW (between 21 Street NW and Hopkins Street NW)
	Key Chinese Speakers: JIN Liqun, Chairman, Supervisory Board, China Investment Corporation XU Xiaonian, Professor, China-European International Business School
	Moderator: HU Shuli, Editor, CAIJING
	★ In association with Gerson Lehrman Group
09:00 – 09:30	Registration
09:30 – 09:45	OpeningJohn L. THORNTON, Chair of the Board, the Brookings Institution ZHOU Wenzhong, Chinese Ambassador to the United States HU Shuli, Editor, CAIJING
09:45 – 10:15	Keynote Speech Turbulent best sums up the year 2008; from the American sub-prime crisis and soaring price of oil to the destructive earthquake in China’s Sichuan province and the recession impacting emerging markets. Extreme uncertainties throughout the world are challenging confidence in globalization. Never before has China played such an integral role in the global economy. Whether China will help the world maintain economic prosperity will be a fresh issue for decision makers and investors at home and abroad. Speaker: JIN Liqun, Chairman, Supervisory Board, China Investment Corporation Moderator: SHEN Minggao, Chief Economist, CAIJING
10:15 – 10:30	Tea Break
10:30 – 12:15	World Finance under the Sub-prime Crisis uEd Mortgage Rate Housemortgagemortgagecorp Yield Szh 1 House Mortgage Mortgage Corp CAIJING Annual Conference 2009: Forecasts and Strategies-《财经网》d House Mortgage Mortgage Corp House Mortgage Mortgage Corp House Mortgage Mortgage Corp House Mortgage Mortgage Corp fEd Mortgage Rate Housemortgagemortgagecorp Yield Szh 1 House Mortgage Mortgage Corp CAIJING Annual Conference 2009: Forecasts and Strategies-《财经网》n i w w House Mortgage Mortgage Corp Mortgage