| |
Erh-fei Liu
(Merryll Lynch (Asia Pacific) China Chairman |
Frank FX Gong
(JP Morgan Securities (Asia Pacific) Managing Director Greater China ) |
Huang Jingsheng (Softbank Asia Infrastructure Fund Managing Director ) |
Song Feng (Bank of Communications Director of Public Relations) |
Xu Duo (Agriculture Bank of China Director of Research Department) |
Do you expect to see a hard or soft landing for China's economy? |
Soft landing |
Soft landing |
Soft landing |
Soft landing |
Soft landing |
What do you feel is currently the most pressing concern for the China Banking Regulatory Commission? |
Put in measures to ensure Non Performing Loans do not become an issue again |
Banking Non Performing Loan issue and the money that is circulating outside the banking system |
I feel it's a little too early to say |
Minimise financial risks and prepare well for the opening up of China's financial services |
Rick management, to prevent the re-emergence of Non Performing Loans |
Where are your biggest opportunities for short term growth? |
Continue to provide investment banking services to Chinese clients raising monies overseas and M&A. |
Provide global investors with local participation in the markets |
Internet applications |
Our financial restructuring will give us a great growth opportunity |
Increase quality institutional clients, intermediary business and consumer banking. |
And where are your biggest opportunities for long term growth? |
Winning a domestic licence to operate in China's securities markets |
Integrating China's mostly isolated financial markets into the global markets |
Media |
Following the trends of China's financial services development and globalization |
China's economy continues growing in a stable and healthy way. |
Which sectors will perform best next year in the equity markets? |
High-tech |
Life insurance and petrochemicals |
Within two years e-education |
Oil, power, transportation, coal, IT and the service industry |
Urban infrastructure and travel and leisure industries |
Do you expect the government to revalue the Yuan? |
Not in the near future |
No. I expect the government to go for flexibility for the currency regime |
Yes - within 2 years |
Small revaluation |
Yes, but in a small range only |
Which of your businesses would be most affected by a revaluation? |
Not much impact |
Not much impact |
It's something we're always considering |
Not much impact |
Trade financing, international settlements |
What have been your best successes in the past 12 months? |
The strengthening of our China franchise |
Local presence for equity research in Shanghai |
Good investment return from Shanda networking |
Financial restructuring |
For the first half of this year, our operating profits have risen sharply to US$1.9 billion and our NPL balance and ratio have decreased |
