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China's regulatory bodies need to think globally says LSE Director

The reshaping of the global financial architecture brings new power and influence to the Chinese banking and regulatory sectors said Howard Davies, Director of the London School of Economics and Political Science (LSE), on a visit to Beijing. 

He said that a greater role for China in shaping international rules and regulations on finance and banking is welcome and necessary, though it also places burdens on key Chinese institutions as they learn to collaborate internationally and think globally rather than just on the domestic Chinese market.  

Photograph of Howard DaviesHoward Davies was in Beijing from 10-13 June for the 7th meeting of the international Advisory Council of the China Banking and Regulatory Commission (CBRC). The Director held discussions with the Chairman of CBRC, Liu Mingkang and other senior officials, as well as discussing the current global economic situation with the Chinese Vice Premier Wang Qishan.  

During his Beijing visit, the Director also participated in a panel on International Financial Stability at the J.P.Morgan annual China Conference, spoke at the Institute of International Finance's conference and moderated a panel on Stabilizing Global and Emerging Markets: the next steps.  

He also met the new President of Peking University (PKU), Prof. Zhou Qifeng, to review current and proposed LSE-PKU collaborative projects. For a fourth year in succession, the Director delivered a lecture to around 60 senior Chinese government officials who are studying on the Executive Public Policy Training Programme (EPPTP)|, which LSE delivers in partnership with Sciences Po, Peking University, and Columbia University. The 2 months of training takes place at Peking University's School of Government.  

On the evening of 12 June in Beijing,  95 LSE alumni attended the Director's lecture as part of the LSE China Alumni Lecture Series. The talk titled The Financial Crisis: Who's to blame? brought together a large mix of alumni from financial institutions, private equity firms, the banking sector, state and international media, law firms, Chinese government departments, and overseas diplomatic missions.

The Director also received the first copies of the recently published Chinese version of the book Global Financial Regulation: the essential guide|, by Howard David and David Green. The book, originally published by Polity Press, is now available, in Chinese, from China Financial Publishing House|

Ends 

For further information on LSE China projects, email Dr Brendan Smith at b.p.smith1@lse.ac.uk||

Press Cuttings 

Causes and Developments of the International financial Crisis http://vod.cctv.com/html/media/bizchina/2009/06/bizchina_300_20090611_8.shtml |http://www.cctv.com/program/bizchina/20090610/110663.shtml |http://www.china.org.cn/video/2009-06/11/content_17929218.htm|

BRIC to engage in world's economic decision-making, says LSE director http://news.xinhuanet.com/english/2009-06/15/content_11543256.htm|  

Stabilizing Global and Emerging Markets: The Next Steps http://finance.sina.com.cn/hy/20090612/12486341377.shtml |(Chinese Only)

 

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