Programme

Morning MC
Mr Anthony Muh Yi-tong
Chairman, Asian Corporate Governance Association
Partner and Asia Chairman, H.R.L. Morrison & Co; Chairman, JIDA Capital Partners, Hong Kong

A regional corporate governance overview based on ACGA research, including a preview of our forthcoming regional survey “CG Watch 2018” and an overview of our recent “China CG Report”. A local expert will discuss current economic trends and challenges in China.

Speakers
Mr Jamie Allen
Secretary General, ACGA, Hong Kong

Ms Nana Li
Senior Research Analyst, ACGA, Hong Kong

Ms Rachel Morarjee
Director, Economist Corporate Network, The Economist Group, Beijing

Hostile takeovers are rare in China, with the first successful case dating from only May 2018. Yet as China’s capital market grows and welcomes a broader array of investors and investment vehicles, the market for corporate control could intensify. Will attitudes towards hostile takeovers change and become more positive? Are such “uninvited” takeover bids a necessary component of a modern capital market? Even if they are encouraged in China, would they make a significant difference to overall corporate governance practices?

Moderator
Mr Jenn-hui Tan
Head of Capital Markets & Corporate Governance – Asia-Pacific, Fidelity International, Singapore

Debators
Ms Maggie Lin Zhaowen
International Consultant, International Finance Corporation China, Beijing

Ms Melissa Brown 
Partner, Daobridge Capital, Hong Kong; Specialist Consultant, ACGA, Hong Kong

Five workshops organised around small-table discussions on practical imperatives of ESG and corporate governance in Asia today.

Three workshops before the break divided into three streams.

“Creating effective whistle-blower systems”

With concerns about public- and private-sector fraud and corruption increasingly on the agenda both regionally and globally, how can companies create workable whistle-blower systems that gain the trust of their employees? What are the classic do’s and don’ts? What level of employee training and socialisation is required? How can companies be proactive against bribery and corruption? And can companies create robust internal whistleblowing systems if national law in this area is undeveloped?

Facilitator
Mr Christopher Leahy
Founder and Partner, Blackpeak, Singapore; Specialist Consultant, ACGA, Hong Kong

Speaker
Mr Zheng Baomin
Deputy Director General, Board Secretariat, Sinopec Corp, Beijing

“Is ESG data in Asia fit for purpose?”

The emergence of responsible investment and the incorporation of a wider range of governance factors into investment decision-making has led to a surge in demand for comparable CG and ESG data over the past decade. What are the key sources of such data in the Asia-Pacific region? How are they changing and evolving? How can domestic and international institutional investors make the best use of the information services available? What are the pros and cons, the common pitfalls, of relying on such data for investment or engagement decisions? And can corporate governance be analysed from public disclosure documents alone?

Facilitator
Mr Charles Yonts
Head of Power and ESG Research, CLSA, Hong Kong

Speakers
Ms Elaine Ng
Executive Director, Client Coverage, MSCI ESG Research, Hong Kong

Mr Mirza Baig
Global Head of Governance, Aviva Investors, London

“Prioritising sustainability: What is material?”

Climate change, the depletion of the natural environment, toxic pollution—all have profound implications for economic, social and political systems in the coming decades. To what extent are companies in Asia addressing the challenges of sustainability in ways that are relevant to their businesses? How do they define “sustainability” and “materiality”, then prioritise what actions to take? Can they use the insights generated to not only mitigate risks, but explore new business opportunities? Should boards become more climate competent? And what special challenges do group companies face in aligning the sustainability strategies of subsidiaries?

Facilitator
Ms Karlyn Adams
Associate Director, BSR, Hong Kong

Speaker
Ms Yuan Yuan
Head, GRI Regional Hub China, Global Reporting Initiative (GRI), Beijing

Mr Michael McComb
Vice President, Communications and Sustainability, SAP Greater China, Hong Kong

Two workshops after the break.

“The art of company-investor dialogue”

While discussions between listed companies and investors are nothing new, the emphasis on “investor stewardship” over the past decade—an outcome of the Global Financial Crisis—has supercharged all aspects of active ownership, from developing internal CG/ESG policies to voting, engagement and public policy advocacy. How do boards of successful listed companies in Asia-Pacific respond to these trends, in particular investor engagement? What makes for an effective conversation that leads to practical behavioural change within companies? What are the differences between engaging with SOEs and POEs in China? What does meaningful engagement look like in China?

Facilitator
Mr Steven Watson
Partner, Capital International Investors, Hong Kong; Vice-Chairman, ACGA, Hong Kong

Speaker
Ms Flora Wang
Head of Investment Stewardship Team, Greater China Region, BlackRock, Hong Kong

Ms Zhu Xu
Vice President and Company Secretary, China Vanke, Shenzhen

“What does ESG integration mean in Asia?”

Investment managers in Asia-Pacific are under considerable pressure from clients and regulators to “integrate” their policies on corporate governance and ESG into their investment selection and monitoring process, with a view to investing more responsibly. What does this mean in practice? How are successful asset managers prioritising the different components of E, S and G? Is it true that governance matters more in emerging than developed markets? How do E, S and G issues vary across the different markets in Asia?

Facilitator
Ms Linda Chen
Vice President, Head of Investor Relations, Taishin Financial Holding, Taipei

Speakers
Dr Francois Perrin
Portfolio Manager, Greater China, East Capital, Hong Kong 

Mr Ronnie Lim
Senior Engagement Specialist, Robeco Hong Kong, Hong Kong

Topic: “Tech innovation in China—what is really going on?”

Speaker
Dr Liu Yadong
Editor-in-Chief, Science and Technology Daily, Beijing

A discussion of the main ideas emerging from each of the five workshops on Day 1. Workshop facilitators will present the most interesting points, followed by Q&A.

Morning MC
Ms Pru Bennett
Managing Director and Head of Investment Stewardship APAC, BlackRock, Hong Kong; ACGA Council Member, Hong Kong

Parallel panels will focus on two key issues: the reform of state-owned enterprises in China and the impact of technology on Asia’s energy future.

The reform of state-owned enterprises (SOEs) is a challenging and multifaceted topic in China. This panel will outline the different types of SOEs in China and discuss the government’s main reform measures affecting the financing, operations and governance of these enterprises. What does “mixed ownership” mean and why has the government chosen to focus on it? What does the new “capital management” strategy mean for SASAC and will SOEs enjoy more autonomy over operational decision-making? To what extent do remuneration policies need to be amended to attract and retain talent? What role do Party organisations play in this process?

Moderator
Dr Chu Xuping
Vice Chairman, Association of China Directors Branch of Chinese State-owned Property Exchanges Association, Beijing 

Speakers
Dr He Jibao
Director, Research Institute, Shenzhen Stock Exchange, Shenzhen

Professor Zheng Zhigang
Professor of Finance, Renmin University of China, Beijing

Dr Zhang Zhengjun
Founding Partner and CEO, King Parallel Consulting, Beijing

How should listed companies and investors think about the challenges that a shift to a lower carbon economy, with disruption by new technologies, will bring in future? What do commitments under the Paris Agreement mean for Asian economies and industrial development? Are Asian countries investing significantly in renewable energy for themselves and the rest of the world? What impact is green financing having on bank lending practices and corporate investment allocations?

Moderator
Mr Richard Lawrence 
Founder and Executive Chairman, Overlook Investment Group, Hong Kong

Speakers
Mr Xie Feng
Chief Financial Officer, China Yangtze Power Company, Beijing

Ms Herry Cho
Head of Sustainable Finance, Asia Pacific, ING, Singapore

Mr Li Junfeng
First Director and Chairman, Academic Committee, National Center for Climate Change Strategy and International Cooperation, Beijing

“CG with Chinese Characteristics: Understanding how it works in practice”

An informal discussion on the evolving and complex role that directors play in Chinese listed companies, both state and private sector. Executive directors often wear more than one hat, sitting on both the board of directors and in the Party Committee as well as managing company operations. Independent directors require flexibility in order to be effective, needing to balance informal discussions between meetings with the more formal structure of board and committee meetings. How do directors manage these different challenges, in particular the heightened role in recent years of the Party Committee? How do boards engage with supervisory boards to minimise duplication and overlap? Who has final responsibility for corporate decision-making?

Moderator
Mr Anthony Muh Yi-tong
Chairman, Asian Corporate Governance Association
Partner and Asia Chairman, H.R.L. Morrison & Co; Chairman, JIDA Capital Partners, Hong Kong

Speakers
Dr Feng Lun
Chairman, Yufeng Capital; Founder, Vantone Holdings, Beijing

Professor Lu Tong
Professor, Corporate Governance, Institute of World Economics and Politics,
Chinese Academy of Social Sciences, Beijing

Reporting back from the morning panel discussions and conference closing remarks.

Conference ends with lunch.