13th Annual Client Event 2016
China—Bull And Bear?
This year, the Client Event will be held in the southwestern Chinese city Chongqing from 26-30 September.
The agenda is designed to help global investors discover and discuss a dichotomy that is clearly forming in China: Traditional sectors such as low-end manufacturing, oil and gas, textiles and banking are receding while “new China” industries such as entertainment, tourism, healthcare, education and internet are ascending. There are implications for the stock market, which is turning into a dual-speed market—a bull and a bear can co-exist.
Multiple dynamics are driving this development and they have the impetus to create long-term, large-scale change. The dynamics include the life values and spending habits of the post-Deng generation; capital market and other reforms; the One Belt One Road initiatives; among others. We will explore these issues via presentations, panel discussions, company visits and site visits.
Several sessions will be chaired by investors so as to provide investor-centric perspectives. To view last year’s proceedings, please visit /investor-resources/presentations-and-discussions
Chongqing is an apt location for this exploration. Since 2007, this municipality has been the site for experimental policies and social transformation. These efforts aim at transitioning China’s economic growth model from export-led to domestic-market led with an emphasis on sustainable development and the people’s welfare. One can see both China’s past and future and the path from here to there. For example, Chongqing used open-market principles to rebuild trust in the public healthcare system. It’s no secret that the pharmaceutical supply chain is riddled with kickbacks and other unethical practices. To lance the corruption, all public hospitals were obliged to participate in a computerized procurement system. Here, the public can view which hospital bought what drug from whom and at what price. Other leading-edge initiatives include policies that fostered high-end manufacturing, a more equitable hukou (household registration) system for rural migrants and a thriving private sector.
As in years past, this year’s Client Event attendees will include the CIOs, investment directors, senior portfolio managers and asset allocators from North American, European and Asian pension funds, endowments, other institutional asset owners and financial institutions.