Sen Zhang

Journey to Success
By Sen Zhang
Session 4 Room A

Among the many lessons to be drawn from the global financial crisis, one consistent theme is the lack of a system-wide focus within the prevailing regulatory regime and the exclusive focus of regulatory authorities and techniques on individual institutions, products and sectors. This in turn has led to a “growing consensus” towards the establishment of macroprudential financial regulatory framework to promote overall systemic financial stability by mitigating systemic risk. A major step following this trend has been approved by the G20 on its recent regulatory reform agenda, which establishes a mandate for the IMF, the FSB and the BIS to accomplish the mission of setting up a macroprudential policy framework.
On account of its breathtaking economic growth, China is playing an increasingly important role in the global financial system. Subsequent to the 2008 financial crisis, in particular, the outstanding efficiency and effectiveness of China’s crisis management and economic recovery mechanism has attracted worldwide attention.
My research is mainly focusing on China’s response to the recent financial crisis and its unique interpretation of Macro-prudential financial regulation. To this end, I will, first of all, review the historical evolution that has led up to the structure of China’s financial system to date. Moreover, by identifying the major sources of systemic risk facing financial stability in China today, I attempt to draw a conclusion as to whether and how Macro-prudential regulation (an idea developed for western banks and rooted in western hyper-competitive financial systems) can blossom and bear fruit in the Chinese soil.

Personal Social Website: http://342881148.qzone.qq.com
Country of Origin: People’s Republic of China
[Could be a special filming talk with instant voting technology]