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Hong Kong Institute for Monetary Research (HKIMR)

Third Annual International Conference on the Chinese Economy

“China’s Macroeconomic Performance in the Medium-Term: Deepening Reforms and Further Opening Up”

12 January 2012 (Thursday) - 13 January 2012 (Friday)

Room 5601, 56/F, Two International Finance Centre, 8 Finance Street, Central


Programme


12 January 2012
8:45 - 9:15 Registration and Coffee
9:15 - 9:25 Opening Remarks
Dong He
(Executive Director (Research) of Hong Kong Monetary Authority and Director of Hong Kong Institute for Monetary Research)

9:25 – 10:10 Keynote Speech:
Institutional Foundations of China’s Structural Problems
Chenggang Xu (The University of Hong Kong)

Session 1 Chair: Dong He (Hong Kong Monetary Authority and Hong Kong Institute for Monetary Research)
10:10 – 10:55 Causes of and Remedies for the People's Republic of China's External Imbalances: The Role of Factor Market Distortion
Yiping Huang (Peking University)
Kunyu Tao* (Peking University)

Discussant: Guonan Ma (Bank for International Settlements)

10:55 – 11:15 Coffee Break
11:15 – 12:00 Is Labor Income Share in China Too Low?
Zhenjie Qian* (Tsinghua University)
Xiaodong Zhu (University of Toronto)

Discussant: Dennis Tao Yang (The Chinese University of Hong Kong)

12:00 – 2:00 Lunch


Session 2 Chair: Hongyi Chen (Hong Kong Institute for Monetary Research)
2:00 – 2:45 Productivity Growth of Non-Tradable Sectors in China
Dong He (Hong Kong Monetary Authority / HKIMR)
Wenlang Zhang* (Hong Kong Monetary Authority)
Gaofeng Han (Hong Kong Monetary Authority)
Tommy Wu (Hong Kong Monetary Authority)

Discussant: Isabel Yan (City University of Hong Kong)

2:45 – 3:30 A Reappraisal of Market Distortions and Manufacturing TFP Loss in China
Hao Shi* (Shanghai Jiao Tong University)

Discussant: Yifan Zhang (Lingnan University)

3:30 – 3:50 Coffee Break
3:50 – 4:35 Prices of Chinese Exports: Beyond Productivity
Ying Ge (University of International Business and Economics)
Huiwen Lai* (The Hong Kong Polytechnic University)
Susan Chun Zhu (Michigan State University)

Discussant: Kevin K. Tsui (Clemson University)

4:35 – 5:20 Exceptional Exporter Performance? Evidence from Chinese Manufacturing Firms
Dan Lu* (Princeton University and University of Rochester)

Discussant: Edwin Lai (Hong Kong University of Science and Technology)

6:30 – 8:30 Conference Dinner (By invitation only)


13 January 2012
8:45 – 9:15 Registration and Coffee


Session 3 Chair: Dong He (Hong Kong Monetary Authority and Hong Kong Institute for Monetary Research)
9:15 – 10:00 Keynote Speech: New Housing Economics - An Application to China
Shang-Jin Wei (Columbia University)
10:00 – 10:45 Dual-Track Interest Rates and the Conduct of Monetary Policy in China
Dong He (Hong Kong Monetary Authority / HKIMR)
Honglin Wang* (Hong Kong Monetary Authority / HKIMR)

Discussant: Leon Berkelmans (Reserve Bank of Australia)

10:45 – 11:05 Coffee Break
11:05 – 11:50 Understanding Chinese Bond Yields and their Role in Monetary Policy
Nuno Cassola (European Central Bank)
Nathan Porter* (International Monetary Fund)

Discussant: Chu Zhang (Hong Kong University of Science and Technology)

11:50 – 12:35 Does Informal Finance Help Formal Finance? Evidence from Third Party Loan Guarantees in China
Dragon Tang* (The University of Hong Kong)

Discussant: Chen Lin (The Chinese University of Hong Kong)

12:35 – 2:30 Luncheon Speech: Monetary Policy and Financial Sector Liberalisation in Latin America: Key Lessons for China
Leonardo Leiderman (Tel-Aviv University)

Session 4 Chair: Hongyi Chen (Hong Kong Institute for Monetary Research)
2:30 – 3:15 The External Impact of China’s Exchange Rate Policy: Evidence from Firm Level Data
Barry Eichengreen (University of California at Berkeley)
Hui Tong* (International Monetary Fund)

Discussant: Man-Keung Tang (Hong Kong Monetary Authority)

3:15 – 4:00 Challenges for the Future of Chinese Economic Growth
Jane Haltmaier* (Board of Governors of the Federal Reserve System)

Discussant: Louis Kuijs (Fung Global Institute)

- End of Conference -
* : presenter


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