21st CLSA China Forum opens in Chengdu
CLSA cautious on China’s debt and Rmb risk



Chengdu – Monday, 9 May 2016 – CLSA, Asia’s leading brokerage and investment group opens the 21st CLSA China Forum today in Chengdu, China. The three-day event is one of the longest running investor conferences of its kind in China and brings together China-based corporate executives and foreign institutional investors from 19 countries.

The CLSA China Forum provides views from more than 50 China commentators including CLSA analysts & economists, industry specialists and China thought-leaders who deliver authoritative, timely insights into the key issues impacting global institutional investors. Presentation topics include the latest economic and consumer trends, geopolitical rebalancing, environmental sustainability, cross-border e-commerce, reforms and the leadership agenda, as well as updates on the auto, banking, healthcare, manufacturing, power and property sectors.

CLSA has provided independent views on China for 30-years with the first ground-breaking China report: Politics in China: A Peep Across the Border published in 1987. For two-decades, CLSA has hosted foreign investors in China at the annual CLSA China Forum to provide on the ground access and differentiated insights into one of the world’s most dynamic markets.

At the 21st CLSA China Forum Amar Gill, CLSA Head of Asia Research, argues that a market-determined renminbi is inevitable and outlines the sectoral impacts across the region, while Francis Cheung, CLSA Head of China/HK Strategy, outlines why he has become more cautious on the market. “The government’s aggressive policies to boost growth have been impressive as it has been able to swiftly execute both fiscal and monetary policy and turn around the property market,” Cheung says. “However, this is just buying time and by definition, stimulusis temporary”.

Forum keynote speakers Dinny McMahon, a Fellow at the Wilson Center, gives an appraisal of Chongqing’s deleveraging experiment, while award-winning author John Pomfret focusses on the impacts of Xi Jinping’s policies on the China economy. The Economist’s Simon Rabinovitch examines the myths and realities of China’s slowdown and offers his views on China’s prospects for the coming year. Peng Wengsheng, Head of Research at CITIC Securities, explains why China’s macro policy mix is likely to return to “credit tightening, monetary easing and fiscal expansion”. Specialist speaker, Richard Koss, resident scholar and director of the IMF’s Global Housing Watch, will outline how China might deliver the benefits of home ownership while protecting the stability of the financial system.

In July 2013, CLSA became a wholly-owned subsidiary of CITIC Securities, China’s leading investment bank. The purchase of CLSA provides CITIC Securities with a global distribution network to many of the world’s largest institutional fund managers while CLSA has access to China to assist Chinese companies expand overseas. CLSA Chairman & CEO and Co-CEO at CITIC Securities International, Jonathan Slone, says: “CLSA, together with CITIC Securities, provides an unrivalled platform for Chinese capital outflows as well as foreign capital seeking access to China’s A-share market.”