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International Forum

for

China Financial Inclusion 2017

21-23 September

Beijing China

The purport of the term financial inclusion is more profound than that of finance as

traditionally defined. The key to the sustainable development of financial inclusion is

building capacities for all stakeholders, especially for the traditionally disenfranchised

segments of the society, through financial education and other capacity building

initiatives that are available, accessible and affordable for all. To teach people to fish,

figuratively speaking, the efforts undertaken in capacity building is aspired to fulfill the

dual mandates of financial inclusion of social good and economic sustainability.

To be specific, financial consumers shall improve their financial literacy and risk

awareness, understand their rights and protection measures, and learn to leverage

financial resources available to them; inclusive financial service providers shall

improve their corporate governance, risk management capabilities, and business

acumen to innovate their business models, products, and service offerings; and

government authorities shall adapt themselves to the ever-changing market

landscape and refine their policy-making and regulatory approaches accordingly.

In this digitalized brave new world capacity building necessitates the unleashing the

power of FinTech, and only by so doing could the coverage, accessibility, and adequacy

of financial services be elevated and the development imperative of uplifting China’s

financial inclusion to upper-middle level in the world by 2020, as established in the

country’s The Plan for the Development of Financial Inclusion (2016-2020), be

achieved.

I. Theme and Topics

As the slogan “Capacity Changes the World” indicates, this year’s Forum focuses upon

pressing issues surrounding capacity building for financial inclusion stakeholders. A

wide spectrum of discussion topics covers: policy-making and regulatory capacity;

financial institutions’ corporate governance, skills to innovate, and risk savvy; client

education and protection; digital dividend and divide， etc.. In addition, the first Sino-

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Africa Summit on Digital Financial Inclusion is also to be held as a part of the event.

The Forum will be divided to different sessions including opening ceremony, plenary

discussions, parallel forums, workshop sessions and closed-door meeting.

Specific topics includes:

• Financial literacy and capacity building;

• Consumer protection;

• Governance and capacity for financial institutions;

• Product and service innovation;

• RegTech and regulatory capacity;

• Development of FinTech; and

• Digital dividend and divide.

II. Organizational Structure

Supported by:

The People’s Bank of China (PBoC)

China Banking Regulatory Commission (CBRC)

Organizers:

Renmin University of China (RUC)

China Banking Association (CBA)

China Microcredit Companies Association (CMCA)

Co-Organizers:

Payment & Clearing Association of China (PCAC)

China Foundation of Development of Financial Education

Hosted by:

Chinese Academy of Financial Inclusion (CAFI)

Renda Puhui (Beijing) Consultation Co., Ltd.

Lead Sponsor:

HSBC Group

Public Interest and Charity Partner:

Bill & Melinda Gates Foundation

Special Partners:

International Finance Corporation (IFC)

SME Finance Forum

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The Consultative Group to Assist the Poor (CGAP)

Partners:

Visa, Ant Financial, Baidu, JD Finance, Credit Ease, AVIC Trust

III. Keynote Speakers

Leaders from central and local governments and leading experts in the financial

inclusion-related areas will be invited to attend the Forum. Also attending are

participants from the World Bank, IFC, SME Finance Forum, Accion and other

international organizations.

IV. Audience

A diversified audience consists of policy makers, researchers and practitioners from

government agencies, academia, think tanks, philanthropies, public interest groups,

private sectors, and international organizations.

V. Language

Mandarin and English. Simultaneous translation will be provided.

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Agenda1 (Draft)

Pre-Session for International Forum for China Financial Inclusion

Wednesday, September 20, 2017

14:00-16:00

Featured Speech: The Global Landscape of Financial Inclusion (By Invitation Only)

By

Michael CHU, Senior Lecturer, Harvard Business School； Academic Advisor, Chinese Academy of Financial Inclusion

Venue

Renmin University of China

Sino-Africa Digital Financial Inclusion Summit

September 21, 2017

08:00-08:50 Registration

09:00-10:30 Opening Ceremony

Chaired by

Duoguang BEI, President & Co-Chairman, Chinese Academy of Financial Inclusion（CAFI）

Keynote Speeches

Zhong XU, Director-General, Research Bureau, The People’s Bank of China (PBoC); Secretary-General, China Association for

Finance

Pierre GUISLAIN, Vice President, Private Sector, Infrastructure and Industrialization, The African Development Bank Group

An executive from China Development Bank (TBD)

Greta BULL, Chief Executive Officer, Consultative Group to Assist the Poor (CGAP); Director, the World Bank Group

Elisabeth RHYNE, Managing Director, Center for Financial Inclusion at ACCION; Academic Advisor, Chinese Academy of Financial

1 All the listed participants are to be confirmed

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Inclusion

Jane XING, Deputy Director, Program-Related Investments, China, Bill & Melinda Gates Foundation

10:30-10:50 Coffee Break

10:50-12:00 Dance between the Dragon and the Lion: African Opportunities and China Values

China is now Africa’s largest outside investor as well as its largest trade partner. The past decade has witnessed a surge in bilateral

cooperation between China and Africa, especially in infrastructure and energy and natural resources sectors. As the developed

economies still struggles with the hangover of the global financial crisis, China’s financial support to Africa’s economic development

is of particularly great significance. This session will explore viable models for financial cooperation between China and Africa, including

investment, collaboration, and technical assistance in financial services and digital technologies sectors.

Moderator

An executive from Finance Center for South-South Cooperation (TBD)

Speakers

Weiguo XIANG, President, China Micro-Credit Companies Association； Trustee, Board of Trustees, Chinese Academy of Financial

Inclusion

Zujun ZHANG, Managing Director, China-Africa Fund for Industrial Cooperation Co., Ltd.

Amina TIRANA, Senior Director, Global Financial Inclusion, Visa Inc.

David PORTEOUS, Chairman, Digital Frontiers Institute

John QU, Senior Partner & Leader of Greater China Financial Institution Group Practice, McKinsey & Co.

Representative from Huawei Technologies Co., Ltd.

12:00-13:30 Lunch

13:30-15:00 Session 1 – Capacity Building for Covering the Last Mile

Capacity building holds the key to the sustainable development of inclusive finance. In this session, two NGOs will share their stories

and insights in financial literacy education and capacity building targeted at the previously marginalized segments of the society,

especially those in rural communities, in China and in Africa, respectively. From their insights, it is hoped, will emerge some universal

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principles and best practices that the attendants will find inspiration-provoking. Also featured in this session will be major findings of

CAFI’s latest Report on Digital Financial Inclusion in Rural Areas.

Launch of Report on Digital Financial Inclusion in Rural Areas

Moderator

Tim LIU, Executive Director & Senior Research Fellow, Chinese Academy of Financial Inclusion

Speakers

Yan LI, Director, Chinese Academy of Financial Inclusion; Professor, School of Business, Renmin University of China

Joep ROEST, Senior Financial Sector Specialist, Inclusive Markets, Consultative Group to Assist the Poor (CGAP)

Panelists

Yue WU, Chief, Financial Education Division, Financial Consumer Protection Bureau, The People’s Bank of China

Tongquan SUN, Director, Rural Finance Research Department, Rural Development Institute, Chinese Academy of Social Science

Xiaolong JIN, Vice President, Ant Financial Services Group

Nan LIU, Chairman, Nongxin Internet Microfinance Loan Co., Ltd.


Shamirah Kimbugwe PRINCESS MAZZI, Head, Agency Banking, MCash Uganda Limited


15:30-17:00 Session 2 – Impact of Digital Payment

In emerging economies, digital payment technologies are bringing millions of traditionally unbanked and underbanked into the formal

financial sector, propelling financial inclusion across the globe. Empirical evidence also shows that access to and regular use of digital

payment services play an instrumental role in helping traditionally disenfranchised population nurture habits of saving and managing

personal and family financial lives in prudent manner, improve their financial literacy, and accumulate verifiable transaction history

that in turn improves their access to credit. Great advance notwithstanding, we still have a wide gap to bridge till the world achieves

universal financial access. At the same time, the emergence of digital technologies and the entry of non-financial institutions into

financial services sector also pose financial regulation and supervision. In this session, speakers and panelists will reflect the progress

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of digital payment innovations in China and Africa and discuss how public and private sectors can work together to create more

affordable, accessible, secure and user-friendly payment and other financial services so as to boost financial inclusion.

Moderator

Jiye MAO, Professor & Dean, School of Business, Renmin University of China; Trustee, Board of Trustees, Chinese Academy of

Financial Inclusion

Panelists

Suzhen WANG, Deputy Secretary-General, Payment & Clearing Association of China

Stephen RASMUSSEN, Head, Inclusive Markets Team, Consultative Group to Assist the Poor (CGAP)

George Ben SIJE, Assistant Manager (NPS Oversight & Policy), the Bank of Tanzania

Cong WU, Associate Dean, National Academy of Development and Strategy, Renmin University of China

Humphrey LUTAKOME, Engagement Manager, Cellulant Uganda Limited

18:30-21:30 Welcome Dinner and Keynote Speech (by invitation only)

China is currently Africa's largest trade partner and outside investor and Africa has a significant role to play in China’s One Belt, One

Road Initiative. Although remarkable progress has been made towards poverty alleviation, both parties still have to take up the twin

challenges of promoting productivity and inclusive growth. How would inclusive finance fit in the bigger picture of inclusive growth,

facilitating capital formation and encouraging entrepreneurial spirit from the grass-root level? Dr. Justin Yifu Lin, world-renowned

economic thought leader and former vice president and chief economist of the World Bank, will share his perspectives in the keynote

speech.

Moderator

Xiaoqiu WU, Vice President, Renmin University of China; Co-Chairman, Board of Trustees, Chinese Academy of Financial Inclusion

Keynote Speech: Impact Investing

Weihua MA, Chairman of the Board, China Global Philanthropy Institute; Former President, China Merchant Bank Co., Ltd.

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International Forum of China Financial Inclusion 2017 September 22, Friday


09:00-09:30 Opening Ceremony

Chaired by：

Duoguang BEI, President & Co-Chairman, Chinese Academy of Financial Inclusion（CAFI）

Opening Remark

Wei LIU, President, Renmin University of China

Guangwei PAN, Executive Vice President, China Banking Association

09:30-10:00 Keynote Speeche

Gang YI, Deputy Governor, The People’s Bank of China

10:00-11:45 Qing WU, Chairman, The Shanghai Stock Exchange; Academic Advisor, Chinese Academy of Financial Inclusion

Shu GU, President, Industrial and Commercial Bank of China (ICBC) Co., Ltd.

Sir Sherard COWPER-COLES, KCMG LVO, Chairman, UK Financial Inclusion Commission; Executive Trustee, Board of Trustees,

Chinese Academy of Financial Inclusion

Xiaolong WANG, Chairman, Zhejiang Rural Credit Cooperatives Union

Eric JING, CEO, Ant Financial Services Group; Executive Trustee, Board of Trustees, Chinese Academy of Financial Inclusion

Shengqiang CHEN, Chief Executive Officer, JD Finance

Ning TANG, Founder & CEO, CreditEase; Executive Trustee, Board of Trustees, Chinese Academy of Financial Inclusion

Robert LIVINGSTON, Senior Vice President, Visa, Inc.

11:50-12:00 Launch of the Report: Development of Financial Inclusion in China 2017 (Green Paper)

Moderator

Yan LI, Director, Chinese Academy of Financial Inclusion; Professor, School of Business, Renmin University of China

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12:00-13:30 Lunch

13:30-15:00 Option 1- Panel I: The “Visible Hand” in Financial Inclusion

Central and local governments are providing generous fiscal and monetary stimuli in order to boost financial inclusion in China. Against

this backdrop, this session is intended to: clarify where to draw the dividing line between government and market so as to nurture the

market forces in financial inclusion; and debate on how government could adopt a scientific and holistic approach in policy making

and switch from selective to functional policy regime.

Moderator

Jun WANG, Professor & Director of CEIBS-World Bank China Center for Inclusive Finance, China Europe International Business

School (CEIBS)

Speakers

Xiaoxia SUN, former Director General, Finance Department, the Ministry of Finance of the People’s Republic of China

Wenjian YU, Director General, Financial Consumer Protection Bureau, The People’s Bank of China

P. S. SRINIVAS, Director General, Office of the President, New Development Bank

Qiang QU, Professor, School of Finance, Renmin University of China

Joep ROEST, Senior Financial Sector Specialist, Inclusive Markets, Consultative Group to Assist the Poor (CGAP)


15:30-17:00 Option 2 – Challenges That Financial Inclusion Poses to Financial Institutions

Financial inclusion is in full swing in China. Small and medium-sized banks continue to make their services more accessible at the

grassroots level. While rural credit cooperatives and rural commercial banks are accelerating the introduction of technical means to

improve their services, leveraging their comparative advantages, large banks and even mega banks are setting off a new boom of

financial inclusion competition marked by the establishment of financial inclusion divisions. In the insurance sector, several insurers

are ready to embrace the blue ocean that is financial inclusion. There is also encouraging news in the securities sector. More than a

few securities companies have been involved in the issuance of bonds earmarked for poverty alleviation. Non-listed companies in

poverty-stricken areas are eligible for IPO green channel. In the non-bank or even non-financial credit sector, micro-lending companies

are gradually arising from the ashes, striving to rebrand and reposition themselves. Whether legacy financial institutions can provide

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inclusive services in a commercially viable and socially responsible manner, however, is not merely a technical or commercial issue but

necessitates nothing short of a complete reconstruction of a bank’s governance, strategy, corporate culture, organizational behavior,

incentive mechanism, and management system and process. How could banks successfully tackle such daunting challenges?

Moderator

Yudong YAO, Secretary-General, China Forum on Development of Small and Medium-Sized Banks

Speaker

Xiaochun LIU, President, China Zheshang Bank Co., Ltd.

Panelists

Michael CHU, Senior Lecturer of Business Administration, Harvard Business School; Academic Advisor, Chinese Academy of

Financial Inclusion

Representative from Huachuang Securities Co., Ltd.


Helmut GROSSMANN, Chief Advisor, International Advisory Service, Frankfurt School of Finance and Management (FS)

13:30-15:00 Option 3 – Case Discussion: The Local, the Exotic, and the Sophisticated: Three Cases on How Micro-Credit Companies Transform

Themselves

In the aftermath of a period of savage growth and its ensuing hangover, micro-credit companies, a force to be reckoned with in China’s inclusive finance arena, are outgrowing their turbulent adolescence and the successful ones are striving to drive growth through differentiation and adoption of state-of-the-art digital technologies. In this session, three micro-credit companies, Dongfang Huimin,

which transformed itself from a not-for-profit women’s microfinance cooperative into a for-profit micro-lending company, Chutian, which is expecting IPO in US, and Haier Money, the micro-lending subsidiary of the global home appliances giant, which is honing its cutting-edge in supply chain finance through sophisticated digital technologies, are sharing stories of their exciting journeys.

Moderator

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Xuemei BAI, Vice President & Secretary-General, China Micro-Credit Companies Association

Speakers

Zhipu LONG, Chairman, Ningxia Dongfang Huimin Microfinance Corporation (Corporate Member, China Microcredit Companies

Association)

Chuanguo WANG, Managing Director, Haier Money (Vice-Presidency Corporate Member, China Microcredit Companies

Association)

Qizhi WEI, Managing Director, Hubei Chutian Microfinance Co., Ltd. (Vice-Presidency Corporate Member, China Microcredit

Companies Association)

Panelists:

Kun YAN, Deputy Director, Rural Development Institute, the Chinese Academy of Social Science

Fangfang JIANG, Senior Operations Officer, Financial Institution Department, International Finance Corporation (IFC), World Bank

Group

Xinmin TANG, President, Ideal International Holding Group; Managing Director, Zhejiang Ideal Small Loan Co., Ltd.


15:30-17:00 Option 4 – Responsible Finance: The Boundary of Financial Innovation

For the emerging digital financial services providers and legacy financial institutions alike, responsible finance defines the boundary

of financial innovation. The Principle 5 of G20 High-Level Principles for Digital Financial Inclusion calls for the establishing of

“responsible digital financial practices to protect the consumer” and this is particularly critical to those without adequate financial

literacy or resources to absorb loss. In this context, how could legislation, supervision and self-regulation join force to promote

responsible finance?

Moderator

Tianqi SUN, Director General, Current Account Management Department, State Administration of Foreign Exchange

Speakers

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Wenhong LI, Director General, Banking Innovation Supervision Department, China Banking Regulatory Commission

Jinpu JIAO, Chairman, Shanghai Gold Exchange

Long CHEN, Chief Strategy Officer, Ant Financial Services Group


Inclusion

Stephen RASMUSSEN, Head, Inclusive Markets Team, Consultative Group to Assist the Poor (CGAP)

13:30-15:00 Option 5 – Panel III： Tackling Regulatory Challenges of Digital Financial Services

Promoting financial inclusion also poses challenges to financial regulators, who need to design sensible prudential regulatory rules

that will in effect incentivize financial institutions. Also, as Fintech firms and other non-traditional players are making inroads into

financial services sector, regulators also need to consider whether and how to include those kids on the block into the prudential

regulatory regime. They also need to learn new tricks such as RegTech or sandbox. Ideally, an effective regulatory regime should strike

a delicate balance between safeguarding financial stability and encouraging innovations, leaving no space for regulatory competition,

regulatory arbitrage, or regulatory capture. But is such a mandate a mission impossible in the digital era?

Moderator

Dong YANG, Professor & Associate Dean, Renmin University Law School

Speakers

Yuanqi XIAO, Director General, Prudential Regulation Bureau, China Banking Regulatory Commission

Ping LUO, Chairman of the Supervisory Board, Bank of Kunlun Co., Ltd

Greta BULL, CEO, Consultative Group to Assist the Poor (CGAP); Director, The World Bank Group

Ziwei CAO, Trustee, Board of Trustees, Chinese Academy of Financial Inclusion

Bin HU, Deputy Director, Institute of Finance and Banking, Chinese Academy of Social Science


15:30-17:00 Option 6 – Panel IV: China’s Sandbox: Visions, Perspectives and Current State of Lankao National Financial Inclusion Experimental

Zone

In Dec. 2016 the State Council approved the County of Lankao as the nation’s first financial inclusion pilot zone. The mission of this

program, according to the official communique, is to build Lankao into “a reform pilot zone, innovation demonstration zone, and safe

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operation zone” so as to explore sustainable, reproducible and replicable ways for financial inclusion in poverty-stricken regions in

China and beyond. What achievements has the experimental zone made in the past nine months and what are challenges ahead?

Moderator

Min JI, Deputy Director General, Research Bureau, The People’s Bank of China

Guest Speakers

Nuojin XU, President, Zhengzhou Central Sub-Branch, The People’s Bank of China

Xin FANG, Vice President, Chengdu Branch, The People’s Bank of China

Mingjun LI, Chief Executive, County of Lankao

Tim LIU, Executive Director & Senior Research Fellow, Chinese Academy of Financial Inclusion

Peter WANG, Head of Financial Inclusion and Education, Visa China

17:30-18:30 Networking Break

Saturday September 23


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09:00-10:10 Panel V: From Digital Divide to Digital Dividend

This session focus on how effective capacity building initiatives will help improve public’s, especially traditionally disenfranchised

population’s, financial literacy and digital literacy so that digital divide will be bridged and digital dividend materialized.

Chaired by:

Jinchang LAI, Lead Financial Sector Specialist and Lead for Financial Infrastructure for East Asia Pacific Region, International

Finance Corporation (IFC)

Speakers

Tao YANG, Assistant Director, Institute of Finance & Banking, Chinese Academy of Social Science

Krishna THACKER, Regional Director (Asia) – Financial Empowerment, MetLife Foundation


Xiaojing YANG, Director, Securities Products Center, Tencent Holding Limited


10:30-12:00 Plenary Session - Digitization: A New Era of Capacity Building

Chaired by:

Duoguang BEI, President & Co-chairman, Chinese Academy of Financial Inclusion（CAFI）

Keynote

Dongrong LI, President, National Internet Finance Association of China

Guest Speakers

Xiaoqiu WU, Vice President, Renmin University of China; Co-Chairman, Board of Trustees, Chinese Academy of Financial Inclusion

Jiangtao YAO, Chairman of the Board, Avic Trust Co., Ltd.

Greta BULL, Chief Executive Officer, Consultative Group to Assist the Poor (CGAP); Director, The World Bank Group

Yuan QI, Vice President & Chief Data Scientist, Ant Financial Services Group

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Michael CHU, Senior Lecturer of Business Administration, Harvard Business School; Academic Advisor, Chinese Academy of

Financial Inclusion

14:00-16:00 The 2nd Council Meeting of CAFI（Closed Door）

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