Event name

The China Debt Capital Markets Summit 2019 中国债务资本市场峰会 2019

28 March 2019
Beijing, China

Sponsors

There is no better way to network with your key clients whilst providing a host of interesting panels and lively workshops to keep them informed on the latest market trends. Euromoney conferences provide an unparalleled opportunity for you to reach and remain at the forefront of your market.

To find out how you could benefit from sponsoring a Euromoney Conference please contact us on +44 (0) 20 7779 8488.


Co-Host

GlobalCapital

Lead Sponsors

Bank of China
HSBC
MUFG Securities Asia
Natixis
Standard Chartered Bank

Associate Sponsors

China Chengxin International Credit Rating
China Merchants Securities
Fitch Ratings
China Lianhe Credit Rating
Moody's Investors Service
S&P Global Ratings
Tradeweb

Supporting Organisations

AIMA Hong Kong
Asia Pacific Real Estate Association
Asia-Pacific Structured Finance Association
ASIFMA
ChinaGoAbroad
Chinese Asset Management Association of Hong Kong
Hande Holdings
Hong Kong Investment Funds Association
International Capital Market Association

Media Partners

Asiamoney
Asia Briefing Ltd.
Euromoney
GlobalRMB
Plattform M&A China/Germany

Data Partners

CEIC Data
EMIS

Event Overview

Click here to read the article - China Blossoms as Green King.

The annual China Debt Capital Markets Summit will return on 28 March 2019 in Beijing. This Summit will bring together over 650 domestic and international investors with issuers and prospective issuers to discuss the future of China’s capital markets, and address the key opportunities and challenges for offshore investors and financial intermediaries.

Key discussions will focus on:

  • China’s capital markets: Amid the trade war, is China still opening up?
  • Foreign investors: What comes next?
  • Chinese issuers: How to navigate a chaotic offshore bond market
  • Panda bonds: Ready for take off
  • Looking to the future: Is there room for optimism?
  • Focus sessions on Green bonds / Navigating China Credit / The Middle East and China
  • And much more

If you have any enquiries, or any problem with online registration, please send email with your full details (i.e. full name, company name, job title/ department, e-mail address & contact number) to our customer services team at rsvp@euromoneyasia.com.

For sponsorship opportunities, please contact Robert Ball at robert.ball@euromoneyasia.com.

For speaking opportunities, please contact Christy Wong at christy.wong@euromoneyasia.com.


一年一度的中国债务资本市场峰会将于2019年3月28日再次在北京举行。本次峰会将聚集超过650名国内外投资者、发行人以及潜在的发行人,一起讨论中国资本市场的未来,探讨离岸投资者与金融中介机构面对的主要机遇与挑战。

关键议题包括:

  • 中国资本市场 – 贸易战期间,中国仍会继续保持开放吗?
  • 外国投资者的下一步行动
  • 中国发行机构如何驾驭混乱的离岸债券市场?
  • 熊猫债券市场准备好起飞了吗?
  • 前景展望 – 应否对未来持乐观态度
  • 焦点讨论围绕绿色债券/中国与中东
  • 以及更多

如欲了解更多关于本次会议的信息,或在线登记时遇到任何问题,请提供您的英文名字、公司英文名称、职位/ 部门英文名称、电邮地址及电话号码,直接电邮至 rsvp@euromoneyasia.com 与我们的客户服务团队联系。

如欲了解赞助机会,请电邮至robert.ball@euromoneyasia.com与Robert Ball联系。

如欲获得发言机会,请电邮至christy.wong@euromoneyasia.com与Christy Wong联系。

Speakers

Speaker image
Keynote Speaker

Tony Shale

Chief Executive Officer, Asia
Euromoney Institutional Investor PLC

Full Profile

Speaker image

Makoto Aoki

General Manager
MUFG Bank (China)

Full Profile

Speaker image

Hayden Briscoe

Managing Director, Head of Fixed Income, Asia Pacific
UBS Asset Management

Full Profile

Speaker image

Woody Chan

Deputy General Manager and Treasurer
China Ping An Insurance Overseas

Full Profile

Speaker image

Sheldon Chan

Vice President and Associate Portfolio Manager
T. Rowe Price

Full Profile

Speaker image

Eugene Cheung

Head of China
Tradeweb

Full Profile

Speaker image

Cristiano Cui

Managing Director of Board Office
Modern Land China

Full Profile

Speaker image

Morgan Davis

Reporter
GlobalCapital

Full Profile

Speaker image

Rebecca Feng

Reporter
GlobalRMB

Full Profile

Speaker image

Andrew Fennell

Director, Sovereigns
Fitch Ratings

Full Profile

Speaker image

Toby Fildes

Managing Editor
GlobalCapital

Full Profile

Speaker image

Luying Gan

Head of Sustainable Bonds, Debt Capital Markets, Asia-Pacific Global Banking
HSBC

Full Profile

Speaker image

Edmund Goh

Investment Manager, Asian Fixed Income
Aberdeen Standard Investment

Full Profile

Speaker image

Stan Ho

Chief Executive Officer
Lianhe Ratings Global

Full Profile

Speaker image

Kai Hu

Senior Vice President, Corporate Finance Group
Moody's Investors Service

Full Profile

Speaker image

Ken Hui

Chief Operating Officer
Fullgoal Asset Management (HK) Ltd

Full Profile

Speaker image

He Ji

Deputy General Manager, Treasury Department
Agricultural Development Bank of China

Full Profile

Speaker image

Christopher Lee

Managing Director and Lead Analytical Manager, Asia Pacific, Corporate Ratings
S&P Global Ratings

Full Profile

Speaker image

Kenneth Lee

Head of Primary Bond Markets, Asia Pacific
Natixis

Full Profile

Speaker image

Wai Mei Leong

Director, Fixed Income
Eastspring Investments

Full Profile

Speaker image

Dantong Li

Deputy Senior Manager, Asset and Liability Management Department
China Construction Bank

Full Profile

Speaker image

Clifford Tan

East Asian Head of Global Markets Research
MUFG Bank

Full Profile

Speaker image

Matthew Thomas

Asia Bureau Chief
Euromoney Institutional Investor PLC

Full Profile

Speaker image

Kaven Tsang

Senior Vice President, Corporate Finance Group, Asia Pacific
Moody's Investors Service

Full Profile

Speaker image

Gordon Tsui

Head of Fixed Income
Taikang Asset Management (Hong Kong)

Full Profile

Speaker image

Kennis Wong

Managing Director and Head of Greater China Capital Markets
MUFG Securities

Full Profile

Speaker image

Ariel Yang

Vice President
China Chengxin International Credit Rating

Full Profile

Speaker image

Yolanda Ye

Director, Fixed Income Portfolio Manager
China Life Franklin Asset Management

Full Profile

Speaker image

David Yim

Managing Director, Head of Debt Capital Markets, Greater China & North Asia
Standard Chartered Bank (Hong Kong)

Full Profile

Speaker image

Bin Yuan

Co-Head of Fixed Income Trading, Global Markets
HSBC China

Full Profile

Speaker image

Han Zhang

Chief Executive Officer
iGreenBank

Full Profile

Speaker image

Hao Zhang

Deputy General Manager, Debt Financing Department, Investment Banking Division
China Merchants Securities

Full Profile

Speaker image

Wei Zhang

Portfolio Manager
Matthews Asia

Full Profile

Speaker image

Ricco Zhang

Director, Asia Pacific
International Capital Market Association

Full Profile

Article

China is ready to forgo the stereotypes of its smog-filled cities and show that its sustainability initiatives are on par with the west.

 

China has become a leader in the green bond market, ranking second for green issuance last year— only behind the US. Despite its dominance, many investors still have questions about just how green China really is. As its market continues to boom, China is ready to forgo the stereotypes of its smog-filled cities and show that its sustainability initiatives are on par with the west.

 

Last year Chinese green bond issuance surpassed $30bn, according to the Climate Bonds Initiative (CBI). China’s Industrial Bank is the one of the largest global green bond issuer, selling nearly $10bn worth of notes in 2018 both onshore and offshore. As the size of the market has surged over the last three years, so too has the quality of the green bond offerings.

 

Sustainable financing experts are ambitious about the potential for further growth and international appeal. “We really feel the engagement,” said Luying Gan, Head of Sustainable Bonds, Debt Capital Markets, Asia-Pacific, Global Banking at HSBC. “Pushing is coming from all directions.”

 

But there is some debate about the appeal of China’s greenness, revolving around the country’s standards for green financing. Since China published its green bond guidelines at the end of 2015, it has been criticised by some western investors for including “clean coal” and other less-than-true-green industries. But Asian bankers have countered that despite these standards, the vast majority of China’s green bonds do fall in line with international expectations. And, there has been some recent reports that China is considering moving its guidelines to cut out clean coal.

 

“A lot of the European audience may think that China is in the high pollution phase, but I think that has passed,” said Gan. The country has been making a concerted effort to cut back on its carbon footprint across the board, leading in areas like electric vehicle use. For debt issuers, part of the attraction of selling green bond is to introduce Chinese companies to international investors, and gain a bit of diversity in a borrower’s investor base. To do that, companies are aware that they need to structure their transactions to align with international green expectations.

 

Last year, a higher proportion of Chinese green bonds aligned with international definitions, despite the differences in the country’s domestic guidelines. Chinese issued internationally-aligned green bonds accounted for 18% of the global market in 2018. It’s a notable increase from 2017, when 38% of Chinese issuers failed to meet international standards. If bonds that aligned with China’s local definitions are counted in the country’s green bond total last year, issuance surpassed $42bn, according to CBI.

 

Realistically, said Gan, China’s differing green guidelines aren’t a bad thing. Many countries, businesses and institutions cite the United Nation’s Sustainable Development Goals as a motivation for environmentally and socially responsible practices. Those goals are wide catching and allows for different approaches for achievement.

 

“It is common to have different standards,” said Gan. Different countries and regions have developed the green market at their own paces and to meet their local needs. For many developing countries, like China, that means accepting fossil fuels to some extent and ensuring a cleaner usage of them. Transitioning these industries to cleaner standards is a critical step, many people agree.

 

“Investors have different approaches and analytical frameworks towards green financing,” added Gan. Green investors are increasingly focused on the environmental impact of their investments. Rather than draw a hard line about the greenness of projects, investors are looking into the substance of the projects and applying case by case consideration. For investors with more flexibility, “light green” notes, such as energy transition bonds from emerging markets, can offer some benefits of green financing, alongside diversity for a portfolio. The beauty of green investments, added Gan, is that they have the transparency to allow investors to decide what they are comfortable with.

 

While “dark green” investors can garner a lot of attention as they lead the charge in pushing for green financing, some investors are actually “light green.” That means that they incorporate various ESG (environmental, social and governance) approaches into their investment philosophy, and all things being equal in a bond sale, these investors will opt for a green bond over a conventional bond. This investor base will continue to grow as “colour blind” investors, or those with no preference for green investments, will shrink.

 

The Chinese green bond market began its development from the top down, following China’s establishment of its own guidelines, and the government has sent a strong message that green financing is a priority for the country. But many green bond advocates agree that the top-down approach can only go so far.

 

“For the long term sustainable development of the market, we need the market to push from the bottom up,” said He Ji, deputy general manager in the treasury department at the Agricultural Development Bank of China.

 

Governments around Asia, including Singapore and Hong Kong, have introduced subsidies to encourage green issuance, offering to offset the added costs of verifying green compliance. But many people believe that the subsidies are, and should be, a temporary measure. “If we rely on subsidies, then the green market will not develop in a healthy way,” said Han Zhang, CEO of iGreenBank. “Many of the subsidies we see have no exit mechanisms,” he added, explaining that such an approach will stymie the market.

 

To fill the gaps in the market and encourage development, banks will play a key role. Market leaders like HSBC have to start with many potential borrowers from scratch, helping them develop their own company green frameworks, and educate them on the benefits and appeals of being a green issuer.

 

“Green bonds really help a sustainable corporation like Modern Land to position itself responsibly among all stakeholders, including shareholders, clients and regulators,” said Cristiano Cui, Managing Director of Board Office, Modern Land China.

 

Banks are also educating the investor base in Asia, which currently lacks many green-dedicated funds, to show how green products fit into portfolios. These banks are able to base their Asian green strategy off their European experiences, bringing in successful western practices to encourage engagement in the region.

 

And, banks will continue to lead as the market moves to new financing options including green loans and green asset backed securities. “Financial Institutions have played an important role in greening China’s financial system,” added Gan. “From providing green credits, to issuing green bonds, then to issuing sustainability bonds, which fund both green and social projects. China Construction Bank is a good example.”

 

 Added Ji, “By issuing the green bonds, we are not only financing, but we are also communicating to people and the world about the development of the green bond market.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Events, Articles and Videos that might interest you