Maryland University CSSA

Seminar “China Mutual Funds: Development and Opportunities"

Time: July 18th 6:30pm-8:00pm ( Sunday evening)

Place: 1528 VMH Building Robert H. Smith School of Business University of Maryland, College Park

Welcome to this seminar to learn about China's Mutual Funds and exchange ideas with others, as well as network!

Brief Introduction about the speaker Ms Qi Zhang’s Speech China’s Mutual Funds: Development and Opportunities

The past twenty years have seen tremendous growth in China’s financial market. Yet since the market is still largely in its early stage and the regulations underdeveloped, the risk for equity investment remains very high. Mutual funds, a way for investors to diversify risk exposure, have emerged in China since 1998. In the past four years, China’s mutual fund industry has experienced rapid growth and has become the investors’ top choice of financial investment in China. What are the unique features of China’s mutual funds? What are the relevant regulations imposed? What kind of opportunities does it bring to investors as well as students in US? And what are the potential risks investing in such funds? In this seminar, Ms. Qi Zhang will answer these questions, and share her insight and experience with the audience. (Note: Speech will be primary in Chinese.)

近二十年来，中国的金融市场经历了高速发展, 但由于中国金融市场以及相关的监管制度的不成熟，直接投资证券的风险一直居高不下。1998年，中国开始成立了证券投资基金管理公司，并提供了可供投资的 共同基金，很大程度上降低了投资者投资中国金融市场的风险。在过去4年里，这个行业快速成长，共同基金的规模及其财富效应已使其成为投资者在中国的重要投 资产品。中国的基金业的发展现状如何？行业及其共同基金产品有哪些特点？与之相关的监管措施有哪些？整个行业给在北美的投资者、北美的金融机构、金融从业 人员及在校的学生带来了什么样的机会？在存在机会的同时，又有哪些潜在的风险？我们有幸请到中国证监会的张旗女士，在此次讲座中，她会逐一解答这些问题， 并且与听众分享她的经验

Bio of Ms Qi Zhang

Ms. Zhang has been the Deputy Division Director of China Securities Regulatory Commission (a counterpart of the US’s SEC) for 8 years. Her division is in charge of the China’s mutual funds and other financial derivatives’ regulations. She directly supervised China’s mutual funds market—responsible for examinations, approval, and supervision of funds companies and its senior executives. She is an expert on all aspects of funds industry, including company’s organizational structure, internal controls, and risk management etc. Ms. Zhang started to work for the Securities and Futures Commission in Hong Kong from Sept. 15, 2008. During her time in Hong Kong, she experienced many significant financial events, among them the settlement of bonds issued by the Lehman Brothers. Before she became a regulator in CSRC, Ms. Zhang worked as a stock analyst in Southwest Securities Inc. in China. She was the one of the first in China to use mathematical models for stock evaluations. Ms. Zhang is currently a visiting scholar at USC Marshall School of Business. Her research area is financial regulatory reform. She gave lectures in USC , UC-Berkeley and other schools around the greater Los Angeles area as well as Harvard University around Boston area and Wall Street. Ms. Zhang received her MBA from the School of Economics and Management at Tsinghua University, China. 张旗女士在中国证券监督管理委员会基金監管部有着多年政策制定及监管的经历。她的主要工作是对中国的共同基金管理公司及其高管人员的资格准入和监管，特别 是对股东为摩根士丹利、JP摩根、富兰柯林坦伯顿等国际性大型金融机构为股东的三十几家合资基金管理公司的监管。她十分熟悉基金行业，包括基金公司的组织 结构，内部控制和风险管理等。张女士于2008年9月15日参与香港证券及期货事务监察委员会的工作，在此期间亲历了一系列重大金融事件，其中包括雷曼兄 弟迷你债券风波的处理。张女士曾任西南证券的股票分析师，在加盟证监会之前，她还是中国使用数学模式评估股票价格的先驱者之一。目前，张旗女士是南加州大 学会计学院的访问学者，研究方向是金融监管的改革。她曾在南加州大学及洛杉矶其他大学, 哈佛大学及其他波士顿地区高校，还有华尔街做过多次讲座。

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