Our partner Liu Borong and senior associate Wang Yanzhuo attended the Second Annual China Structured Finance and Real Estate Summit held in Beijing, on November 13-14, 2008. The summit was co-held by Information Management Network (IMN) and China Securitizaiton Forum, and was attended by officials from the People's Bank of China (PBOC), China Banking Regulatory Commission (CBRC) and sound financial institutions, financial intermediaries, research institutions and investors from all round China and abroad (including Morgan Stanley, International Finance Corporation (IFC), Bank of Tokyo-Mitsubishi UFJ, MBIA, Trust Company of the West (TCW), the Royal Bank of Scotland (RBS), Standard Chartered Bank (SCB), the Hong Kong Mortgage Corporation Limited (HKMC), Schroders plc, Barclays Bank, the Bank of New York Mellon, Moodys, Deloitte & Touche, the China Development Bank (CDB), the Industrial and Commercial Bank of China (ICBC), and the Shanghai Pudong Development Bank (SPDB).
This year's summit is of particular significance under the background of global financial turmoil. The attendees expressed deep concern for China's macro-economy, real estate market, financial innovation and the pilot projects of securitization. The officials of PBOC and CBRC fully recognized the importance of securitization and relevant legislations in developing China's banking sector, and highlighted several issues to be solved.
In the panel session on the Development Pattern of Securitization in China, Liu Borong delivered a keynote speech sharing his insight on domestic securitization from the perspective of legal expertise. Wang Yanzhuo participated in the sessions on China's Real Estate Market and Accounting and Taxation Issues, and discussed a number of securitization cases, future securitization legislation as well as the regulator's attitude toward off balance sheet treatment in securitization.
As one of China's leading law firms in securitization practice, Zhong Lun has advised on over 20 publicly offered credit securitization projects and over 50 structured finance projects, and assisted the regulators in securitization legislation.