Spotlight on China Shadow Banking

An EMPEA Professional Development Webcast

Join experts from Clearwater Capital Partners,ANZ Banking Group, Shoreline Capital and the Financial Times for the next EMPEA Professional Development Webcast on the growing shadow banking market in China.

Key topics discussed, included:

  • How does China’s use of credit to stimulate growth in the face of the global financial crisis compare to the response of advanced economies?
  • How does non-bank lending help to stimulate China’s economy in the midst of lending contraction and tightening credit conditions in the traditional Chinese banking sector?
  • What are the regulatory impacts and risks to expect in China over the coming years, as concerns arise around the growing shadow banking market and the buildup of local government debt?
  • What kind of legal processes and enforcement will be put into place to address the rise of non-performing and overdue loans?

EMPEA Members: Log in to access the full webcast recording and presentation.

 

Speakers Included

 

Benjamin Fanger
Co-Founder & Managing Director, Shoreline Capital

Mr. Fanger co‐founded Shoreline Capital Management, Ltd. in 2004 to invest in distressed assets and special situations in China. The firm currently manages about US$650 million on behalf of institutional investors from North America, Europe, Asia and the Middle East. Mr. Fanger works with the team to formulate the company’s investment strategies and is involved in sourcing, analysis, negotiation, restructuring and liquidation related to acquiring and disposing distressed assets in China. He has worked directly with Chinese sellers, borrowers, judges and high‐level government officials throughout the investment cycle. Prior to establishing Shoreline, Mr. Fanger was involved as a founding member in the start‐up and exits of several firms, with the majority of his career being China‐focused. He has done work on Chinese nonperforming loan investments and private equity deals with the field’s leading team of attorneys. Mr. Fanger has been fluent in spoken and written Chinese for seventeen years. He also holds a JD and MBA from the University of Chicago and is a licensed attorney in the State of California.

 

Li-Gang Liu
Chief Economist, Greater China, ANZ Banking Group

Named one of the most accurate macroeconomic forecasters in 2013 by the China Securities Market Weekly, Li-Gang Liu is Chief Economist, Greater China, for the ANZ Banking Group and is based in Hong Kong. He was also named Economist of the Year 2012 by China Business News, a major Shanghai-based financial and economics newspaper.

Li-Gang Liu covers macroeconomics, foreign exchange, capital markets and strategy research for the bank. His previous professional experience includes senior manager in the research department of the Hong Kong Monetary Authority; senior fellow at the Asian Development Bank Institute in Tokyo; an economist for the East Asia and Pacific region at the World Bank Group; and research associate at the Peterson Institute for International Economics in Washington, DC.

His recent publications include ‘Do Foreign Political Pressures Affect the RMB Exchange Rate? An Event Study’ (Journal of International Money and Finance, 2012) and ‘Honor Thy Creditors Before Thy Shareholders: Are the Profits of Chinese State-Owned Enterprises Real?’ (Asian Economic Papers, 2010). He was co-author of The Global Economic Effect of Asian Currency Devaluations (Peterson Institute for International Economics, 1998). He has published many other scholarly articles in refereed journals, including the Journal of Banking & Finance, European Journal of Finance, Journal of World Trade, China Economic Review and Journal of Policy Reform.

His views on China’s economy have been cited widely by international and Chinese press. He is also an invited columnist for FTChinese.com and contributes regularly to Caijing and the Shanghai Securities Journal. Li-Gang Liu holds a PhD in economics from Johns Hopkins University, Maryland, USA.

 

Robert Petty
Managing Partner and Co-Founder, Clearwater Capital Partners

Robert Petty is Managing Partner and Co-Founder of Clearwater Capital Partners and is a member of the Firm's Investment and Management Committees. Since founding the Firm in 2001, Mr. Petty and his partner Amit Gupta have utilized their backgrounds in credit-oriented investment strategies and invested profitably across cycles, sectors and geographies building an Asia-focused business that today is one of the largest credit investing firms in the region. Over his nearly 30-year career, Mr. Petty has focused on investing in Asia-dedicated special situations and credit investments, including turnarounds, restructurings, stressed credits and distressed-for-control transactions. Mr. Petty’s principal responsibilities encompass portfolio management, origination and overall management of the Firm. Prior to founding Clearwater, Mr. Petty held senior positions at Amroc Investments LLC, Peregrine Fixed Income Ltd. and was with Lehman Brothers Holdings, Inc. for thirteen years. Mr. Petty sits on the Board of four Clearwater portfolio companies and also serves on the Boards of two non-profit organizations, The Emerging Markets Private Equity Association (EMPEA) and EngenderHealth.

 

Henny Sender
Chief Correspondent, International Finance, Financial Times

Henny Sender joined the Financial Times in 2007 and is currently the FT's chief correspondent for international finance, based in New York. Previously, Sender was based in Hong Kong and covered international finance.

Prior to joining the FT, she served as the Wall Street Journal's Senior Special Writer for the Money & Investing section and covered private equity and hedge funds. Before joining WSJ, Sender worked in Hong Kong for nearly 10 years and covered regional finance for the Wall Street Journal Asia and the Far Eastern Economic Review. Prior to that, she was based in Tokyo for five years, writing for Institutional Investor.

Sender was part of a team at the Wall Street Journal that won a Loeb award for coverage of the meltdown of Amaranth, a hedge fund. Her work on the overseas Chinese nationals received a citation from the Overseas Press Club and she was a finalist for the National Magazine Awards. Her book on India, The Kashmiri Pandits, was published by Oxford University Press.

Sender has a Phd in Indian history and holds an MS from the Columbia University School of Journalism. She is a member of the Council on Foreign Relations.