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First Wee Cho Yaw Singapore-China Finance and Banking Forum held in Singapore

24 January 2011

Q & A: (From left) Mr Fan Yifei fielding questions from the audience, with Dean of NUS Business School and Stephen Riady Distinguished Professor Bernard Yeung moderating the session
Launched in Beijing last August, the Wee Cho Yaw Singapore-China Finance and Banking Forum, second lecture in the series, was held in Singapore for the first time on 20 January 2011, with Executive Vice President and Deputy Chief Operation Officer of China Investment Corporation Mr Fan Yifei as Guest Speaker.

Addressing a large audience comprising corporate partners, donors, alumni, staff and students at the event jointly organised by the NUS Global Asia Institute (NUS-GAI) and NUS Business School, Mr Fan gave an informative and stimulating lecture on the topic “China: The New Global Growth Engine or the Next Global Bubble?”

He likened China’s situation to that of Japan in the 1990s and pointed out that though the two countries “share many similarities in their economic growth patterns, there are fundamental differences that make it unlikely for China to repeat Japan’s case. China will learn from the lessons of Japan and avoid repeating its policy mistakes.”

He proceeded to highlight five important policy foci for China: • Pursue gradual RMB appreciation • Adopt appropriate monetary policy and fight asset bubbles • Upgrade industries to higher value added sector and align with new growth drivers • Focus on competitiveness of Chinese companies to sustain long term growth • Diversify from bank lending, develop capital markets

The Wee Cho Yaw Singapore-China Finance and Banking Forum, which aims to deepen understanding of the challenges and opportunities in banking and finance in Singapore and China, is made possible by a generous donation from Chairman of United Overseas Bank Dr Wee Cho Yaw to NUS-GAI.