June 25, 2010
The annual China-U.S. Symposium on Building the Financial System of the 21st Century took place in Nanjing, China from June 18-20. Co-sponsored by the Harvard Law School Program on International Financial Systems (PIFS) and the China Development Research Foundation (CDRF), this gathering annually convenes approximately 120 senior financial and government leaders from the United States and China to address key issues relating to capital markets, financial regulation and the China-U.S. economic and financial relationship.
Professor Hal S. Scott, director of PIFS, said: “The Harvard Law School China-U.S. Symposium is an important addition to dialogue between financial and government leaders in the U.S. and China. As we implement regulatory change to avoid another financial crisis and also seek to restore global growth, this dialogue between the U.S. and China is a very important one and our goal is to contribute to this discussion in a meaningful way through this symposium.”
“The annual symposium has been an important platform for exchanging ideas and promoting policy cooperation between the two countries,” said LU Mai, secretary general of CDRF. “The debt crisis in some European countries remind us that the global economic recovery remain vulnerable to sovereign debt risks and the possibility of second downturn. The symposium is being held at the right time to evaluate the current financial and economic situation, as well as to predict future changes.”
Speakers at the symposium included:
- Robert Dohner, deputy assistant secretary for Asia, U.S. Department of the Treasury
- Ximing Niu, president, Bank of Communications
- Stephen S. Roach, chairman, Morgan Stanley Asia
- Kezhi Zhao, executive vice governor, Jiangsu Province, China
The Harvard Law School Program on International Financial Systems was founded in 1986. It was established to conduct research integrating law, economics and finance. In its 22 years, the Program has published books on the international financial system, held symposia, and provided policy advice to an array of countries. PIFS additionally produces annual bilateral Symposia with Japan, Europe, and Brazil.
China Development Research Foundation is commissioned to support and promote policy consultation and academic research while rendering service to the social and economic development of China. The annual "China Development Forum" is one of the other important events organized by the Foundation, during which world-known entrepreneurs, experts and scholars sit together with top Chinese officials to discuss important issues concerning world economy as well as China's reform and development.