Date(s) - Tuesday, March 21 2017
12:00 pm - 2:00 pm
What changes might the appointment this month of Guo Shuqing as the new Chairman of CBRC, China’s banking regulator, bring to the supervision and regulation of China’s banking system? For years, the consensus foreign view has been that China’s banking system is fragile and plagued with problems. Is this really the situation that Chairman Guo faces as he takes the reins? What might we expect Guo to do?
James Stent, a banker with decades of experience in Asian banking and 13 years as an independent director of Chinese banks, will explain how the major Chinese banks have transformed and how they work in China’s market socialist economy. Far from seeing the banking sector as dysfunctional, Stent will argue that the large banks are far more robust and well managed than commonly believed, and that the problems China faces in the financial system mostly lie in local banking institutions and in the non-banking sector.
About the Speaker
James Stent served for 13 years on the boards of China Minsheng Bank and China Everbright Bank in Beijing, and is presently on the boards of XacBank in Mongolia. He has been engaged in commercial banking in Asia for more than four decades, starting with Citibank and Crocker National Bank in the Philippines, Hong Kong, and Thailand, prior to joining the management of a Thai bank in Bangkok.
Fluent in Chinese and Thai, Stent studied economic development at the Woodrow Wilson School at Princeton University. His new book, China’s Banking Transformation: The Untold Story (Oxford University Press, 2017), argues that Chinese banks have transformed over the past 15 years, perform effectively in the Chinese economy, and that fears of a banking collapse are overrated.
Bookings are closed for this event.