This weekend, leaders from the United States and China will gather in Shanghai to examine challenges facing the financial sectors of the two countries. The “Symposium on Building the Financial System of the 21st Century: An Agenda for China and the United States,” is organized by Harvard Law School’s Program on International Financial Systems (PIFS) and the China Development Research Foundation (CDRF).

“Now in its fifth year, the China-U.S. Symposium has become an important forum for constructive interchange between leaders of the financial systems of China and the U.S.,” said Professor Hal S. Scott, director of PIFS. “For the first topic, Turmoil in the Financial Markets, participants will discuss the underlying causes of the current credit crisis and possible solutions to restore the debt markets devastated by the ongoing crisis. Without restoration of the debt markets, full economic recovery in the U.S. will not be possible.”

“The level of participation in this year’s symposium is high and includes officials from all regulating authorities of the Chinese government and principal executives from major Chinese banks,” said LU Mai, Secretary General of CDRF. “One of the reasons for the high level of participation is the troubling financial market outlook in the U.S., and this year’s gathering will surely involve discussions on the current credit crisis. Chinese participants are expecting constructive discussions on the common issues concerning both countries.”

The 130 attendees include senior government officials, economic advisers, financial firm leaders, lawyers, consultants, and scholars from the U.S. and China.

Speakers include:

  • GUO Shuqing, Chairman, China Construction Bank
  • Ambassador Alan F. Holmer, Special Envoy for China and the Strategic Economic Dialogue, U.S. Department of Treasury (via video presentation)
  • LI Jiange, Chairman, China International Capital Corporation
  • Richard Kramlich, General Partner/Co-Founder, New Enterprise Associates
  • HAN Zheng, Mayor, Shanghai Municipal Government

The Harvard Law School Program on International Financial Systems was founded in 1986. It was established to conduct research integrating law, economics and finance. In its 22 years, the Program has published books on the international financial system, held symposia, and provided policy advice to an array of countries.