国际金融与银行学会2017亚洲年会圆满落幕

摘要: IFABS 2017 Ningbo Conference was rounded off yesterday.

10-31 13:58 首页 宁诺商学院

国际金融与银行学会2017亚洲年会圆满落幕

IFABS 2017 Ningbo Conference was Rounded Off.


About IFABS

国际金融与银行学会

国际金融与银行学会(IFABS)致力于促进银行业和金融业的前沿研究, 是世界最主要的研究网络之一。现有来自于60多个国家的3,500名会员。国际金融与银行学会会议(IFABS Conference)旨在建立一个高效权威的论坛,从而为不同领域的学者、研究人员、决策者以及对银行和金融领域相关问题感兴趣的从业者构建一个成果讨论与研究的有效传播平台。


国际金融与银行学会2017亚洲年会于8月31日至9月2日在中国宁波举办,会议由宁波诺丁汉大学主办。下面,让我们共同回顾本次年会的精彩内容。

Founded in 2008 in the United Kingdom, IFABS has now over 3,500 Members from over 60 different countries. IFABS has become one of the worlds leading research networks dedicated to the promotion of cutting edge research in the areas of Banking and Finance.


IFABS Asia 2017 Conference was held in Ningbo China by University of Nottingham Ningbo China during 31st August to 2nd September. Lets have a review on this conference.

Day 1

1

开幕仪式 Opening Ceremony

8月31日,为期三天的国际金融与银行学会(IFABS)2017亚洲年会在浙江宁波开幕。来自20多个国家的200余位学者及业内人士莅临宁波,以“金融创新、稳定与可持续增长”为主题进行分享与讨论。上午10时,各界人士齐聚宁波诺丁汉大学出席欢迎仪式,诺丁汉大学商学院(中国)院长马丁·洛克特教授致辞并邀请与会人员游览校园,宁波诺丁汉大学国际金融研究中心主任章勇敏教授主持。与会人员对宁波诺丁汉大学的发展赞不绝口。

与会人员在宁波诺丁汉大学校园大合影 Group shot


下午1时30分,年会开幕式正式开始。开幕式由马丁·洛克特教授主持,宁波市金融办副主任王勉先生及海曙区副区长金赟先生分别致辞。随后,国际金融与银行学会主席梅尔耶姆·杜伊贡教授及潘尼克斯·德米崔德斯教授分别致辞并介绍国际金融与银行学会及本次会议背景。随后,宁波诺丁汉大学执行校长陆明彦教授向与会人员介绍宁波诺丁汉大学十余年的发展成果及国际一流的研究水平。


On 31st August, International Finance and Banking Society (IFABS) 2017 Ningbo Conference commenced in the University of Nottingham Ningbo China (UNNC). The theme for this year is ‘Financial Innovation, Stability and Sustainable Growth’. Over 200 scholars and practitioners from more than 20 countries and regions attended the conference. Prof. Yongmin Zhang, Director of the Global Finance Centre invited Prof. Martin Lockett, Dean of the Nottingham University Business School China to deliver the welcome speech on campus.


In the afternoon, the opening ceremony was held in Ningbo Marriot Hotel and chaired by Prof. Martin Lockett. Mr. Wang Mian and Mr. Jin Yun , the officials from Ningbo Municipal Government gave the opening remarks. After the speech, Prof. Meryem Duygun, President of IFABS and Prof. Panicos Demetriades, the IFABS Executive Committee Member, introduced the background of IFABS and this conference. Prof. Chris Rudd, Pro-Vice-Chancellor of the University of Nottingham (UoN) and Provost of UNNC, introduced UNNC, its history, achievements and our international research to the audiences.

 

      欢迎仪式

Welcome Ceremony




开幕致辞

Opening Speech





欢迎致辞

Welcome Speech



2

罗伯特·恩格尔教授视频演讲

Professor Robert F. Engle on How Much SRISK is Too Much?

2003年诺贝尔经济学奖得主罗伯特·恩格尔教授通过视频短片为大家介绍了由其创立的自回归条件异方差模型(ARCH模型),以及该模型在评估金融市场系统性风险(S-Risk)中的应用。


Robert F. Engle, the winner of the Nobel Prize in Economics in 2003, introduced the Autoregressive Conditional Heteroscedasticity model (ARCH model) and the impact of S-risk on financial market. 


恩格尔教授创立的金融波动实验室(V-Lab)长期追踪关注多国金融市场的波动性,并且进行金融系统性风险的分析,预测长期系统性风险对金融市场的影响,以帮助投资者提前分散风险和帮助监管者提前预知风险并做出应对措施,通过降低风险而避免经济危机。恩格尔教授利用ARCH模型对中国金融市场的系统性风险进行预测,即计算在下一次金融危机来临之际,需要募集多少资金才能保证金融系统的正常运作。中国金融市场整体系统性风险较高,过度信贷增长是导致金融危机的重要因素。尽管目前因为中国经济体量规模巨大,市场风险尚未突显,但需要未雨绸缪。

His V-lab focuses on the volatility of multinational finance markets, and analyzes the S-Risk in these markets. The lab tends to predict the long-term impact of S-Risk on financial market, which can help investors to diversify the risk in advance and help regulators to make related measures for predicted risks.  It can reduce the risk to some extent and avoid the financial crisis. Professor Engle also analyzed the S-risk of China by using ARCH model, and he indicated that the excessive growth of credit can be a main factor of the financial crisis. Because the volume of China’s economic is huge, the probability of financial crisis is no more than 20% in China. However, China still needs to be vigilant of the S-risk of financial crisis with the increasing probability of the crisis.

对此我们采访了国际金融研究中心主任章勇敏教授,他表示,在拉动GDP增长的“三驾马车”中,还是要专注从传统的投资扩大经济规模转向拉动消费,从而减小资金缺口以降低系统性风险。同时他也提到,宁波地区的银行业已经开始了通过资产证券化等方式分散风险,从而降低系统性风险避免危机。


We interviewed Prof. Yongmin Zhang on this topic during the conference. He mentioned that among the three main drive forces of China’s GDP, it is important to reduce the financing gap by transferring the traditional investment to stimulating consumption. This can help to decrease the S-risk. He also mentioned that the banking industry in Ningbo has begun to diversify the risk through asset securitization, thereby reducing S-risk and avoid the financial crisis.

3

大公国际信用评级集团董事长、世界信用评级集团董事长关建中先生:从信用评级的角度看全球金融风险

Mr.  Guan Jiangzhong, Chairman and President of Dagong Global Credit Rating: Repositioning Credit Rating in Financial System

关建中先生从生产与信用、信用与评级这两对矛盾出发简述了矛盾产生的社会原因,并着重点明了信用与评级这对矛盾的本质——不能超越债务人的偿还能力来进行负债。以2008年次贷危机为例,关建中先生指出,“错误的评级导致的错误的信用关系”是引起这场危机的原因,而各国为了挽回危机通过所谓的量化宽松货币政策印钞票的方式来扩张信用的解决办法只会加大危机爆发的可能性。


Mr. Guan mentioned two conflicts, between production and credit, and between credit and rating. He then briefly introduced the cause of these conflicts and emphasized the nature of the conflict between credit and rating: liabilities for the debtors cannot be beyond their capacity. Taking the crisis of 2008 as an example, he pointed out that incorrect rating caused by incorrect credit relationship is the cause of the crisis, and through the so-called quantitative easing monetary policy of printing money to expand credit solutions will only increase the possibility of crisis. 


接着,关建中先生呼吁把信用评级纳入世界经济治理体系,并提出在大数据时代,应该建立国家评级体系和国际评级体系,这样才能让评级和被评级之间的信息对称。现在资本跨国流动的需求和动力都很大,比如说“一带一路”,其成功的要素就取决于评级信息的跨国流动。但是,目前国际信用资源占有不公导致了世界经济发展的不平衡。特别是西方的评级思想,它通过国家政治体制、人均GDP、经济金融和市场的开放程度以及借新还旧这些与中央政府债务偿还能力无直接联系的能力来评级,这本身就是错误的,也因此导致了很多债权人比债务人评级还低的例子。


Then, Mr. Guan called for bringing the credit rating into the world economic governance system, and mentioned that in the era of big data, national rating system and international rating system should be established in order to balance the information symmetry between the rating and the rated. Now the demands for international capital flow are very large, such as "The Belt and Road", and the key to the success is the transnational flow rating information. However, the possession of international credit resources has led to the imbalance in the development of the world economy. Particularly, the western rating method is incomplete. It is based on the degree of national political system, per capita GDP, economic and financial markets as well as by borrowing the new to return the old debt, such kind of elements central do not have direct connection with government debt repayment, which is actually wrong. As a result, a lot of creditors havelower ratings than the debtors.


最后,关建中先生指出,我们要建立新型国际评级系统来衡量负债安全度。同时,他建立的信用工程实验室也在发明能够让评级扮演逆周期力量角色的工具,相信不久的将来就会有显著的研究成果。


Finally, he pointed out that we should establish a new international rating system to measure the safety of liability, and his credit lab is developing new tools to make rating a facor to complete inverse cycle, and the result will be available soon.

此后,国际货币基金组织驻华首席代表席瑞德从GDP、环境因素、外汇等方面介绍了中国的经济发展和改革现状,并作出了2017年中国GDP将增长12.5%的预测。同时,他还谈到了中国国民储蓄率高、国有企业盈利性低、产能过剩、金融部门的脆弱性等问题,并指出中国需要继续提高经济的灵活性和动态性,而浮动汇率会是中国未来的转型方向。国际货币基金组织也做出预测,如果中国政府决定放缓财政整合计划,中国经济能继续保持高增长。


Then, Dr. Alfred Schipke, the IMF Senior Resident Representative for China, introduced the economic development and reform status of China from the aspects of GDP, environmental factors, and foreign exchange, and has made a forecast of 12.5% GDP growth in China in 2017. Next, he talked about current problems in China, including high national savings rate, low profitability of state-owned enterprises, overcapacity and the fragility of the financial sector, and pointed out that China needs to continue to improve the flexibility and dynamism of the economy, and floating exchange rate will be the future transformation direction. IMF also forecasted the change on Chinas growth, which could be sustained should the authority decide to slow down fiscal consolidation. 


4

圆桌研讨:“英国脱欧与世界经济"     Special Panel on Brexit and the World Econnomy

本次研讨邀请到了法兰克福金融与管理学院丽莎?塞科恩博士、谢菲尔德大学穆罕穆德?沙班博士与牛津大学王轩博士分别从介绍欧洲、生产和制造以及对中国的影响这三个角度来介绍英国脱欧的影响并与与会人员进行了交流探讨。


Prof. Panicos Demetriades chaired the panel discussion. Dr. Lisa Cycon from Frankfurt School of Finance and Management, Dr. Mohamed Shaban from University of Sheffield and Dr. Alex Xuan Wang from University of Oxford discussed the impact of Brexit on Europe, manufacture and China, and exchanged ideas with the participants.

Day 2-3

1

平行研讨会 Parallel Session

9月1日至2日,与会人员在宁波万豪大酒店进行了更加深入的主题研讨会。与会人员被分为8个小组进行交流讨论。研讨会为时两天,议题涵盖:保险产业链发展;商业银行资产证券化;金融监管机制的完善;互联网金融与普惠金融;商业银行风险管理模式;私募基金/风险投资/财富管理;资本市场风险传导机制及其对宏观经济的影响;“新金融”建设 – 借鉴国际金融小镇发展经验(例:格林威治金融小镇)。


On Day 2 and Day 3, the attendances had further discussion on various topics during 8 parallel sessions at Marriot Hotel. The themes of the seminars include the development of the industry chain of insurance, commercial bank asset securitization, perfection of financial supervision mechanism, Internet finance and inclusive finance, commercial bank risk management mode, PE/VC, the risk transmission mechanism of capital market and its impact on macro economy, the construction of new finance - learn from the experience of international financial town. 


在研讨会的同时,与会人员分成两组分别访问了宁波海曙区月湖金汇金融小镇,古色古香的建筑,欣欣向荣的发展机会,大家对金融小镇的发展寄予厚望。

The participants also visited Ningbo Moon-Lake Jinhui Financial Town in two groups repestively. All thinks highly of the financial towns development. 


2

晚宴 The Gala Dinner

9月1日晚,国际金融与银行学会2017亚洲年会晚宴在宁波朗豪大酒店举行。丹麦金融监管局局长杰斯珀·贝格先生就市场缺陷和监管缺陷进行了精彩的演讲,之后IFABS 主席梅尔耶姆·杜伊贡教授及商学院院长马丁·洛克特教授致辞,晚宴正式开始。愉快的用餐时间之后,宁波诺丁汉大学西洋乐队以及民乐队为参会人员带来了精彩的合奏表演,并邀请嘉宾欣赏了中国民歌及越剧表演等精彩传统表演,宾主尽欢。


The IFABS Glad Dinner was organized in Langham Place Hotel after the second day of the conference. Mr. Jesper Berg, Director General of Danish Financial Supervisory  Authority, delivered an excellent speech about market imperfections and supervisory imperfections. Then, Prof. Meryem Duygun and Prof. Martin Lockett welcomed all the particpants. During the gala dinner, UNNC students delivered lovely music, and invited the participants to enjoy the performance of traditional Chinese folk songs and Yue Opera. Everyone enjoyed the delightful moments.


圆满落幕

Round Off


9月2日下午4时,随着最后一场研讨会的结束,本次年会顺利落下帷幕。在这为期三天的会议中,各方人士均对本次会议作出高度评价,称赞这是一次超出预期的高端规格的国际会议,并期待将来在研究领域进一步深入交流。


The conference concluded on 2nd September.  All participants give a high appraisal of IFABS  2017 Ningbo Conference and look forward to future research exchange opportunities.


最后,感谢年会组委会来自商学院办公室的各位同事及学生志愿者的辛勤付出。

Thanks to the staff from Faculty Office of Business and all the student volunteers for their hard work. 


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