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Wealth & Society 2021

Despite economic damage brought about by the COVID-19 pandemic in 2020, high net worth (HNW) individuals (i.e. USD millionaires) are increasingly dominant in terms of total wealth ownership and their share of global wealth. It now numbers 56 million, or 1.1% of all adults, who own 45.8% of household wealth, $191.6 trillion. In addition to public health risks, climate change, geopolitical tensions and wealth differences are exacerbating globally in the past decades. More and more business leaders, influencers, especially new generations are realising that money is not enough to solve these challenges. They must actively take the lead to accelerate and scale the impact for a better, healthier, and more equitable future. Wealth & Society 2021 gathers international and local leaders in business, government, technology, philanthropy and academia as well as influencers to showcase and recognise the positive impact they have on society. The platform is designed to help everyone think where wealth will be generated and how everyone can participate for the benefit of mankind and our shared future.

Focus on sustainable development for the future

Dialogue on the trends of wealth creation, preservation, succession and its impact on society

Open to global influencers, investors, experts, prominent decision-makers, professional peers and high net worth individuals (HNWIs) in person and virtually

If you would like to use your wealth to be relevant to society and take advantage of all the innovations in wealth creation, this conference is for you.

Event Details

  • Rebuilding trust and partnerships to achieve the Sustainable Development Goals
  • Rethinking the impact of wealth
  • Shaping a positive, measurable, and profitable investment strategy
  • ESG - An evolving definition on value creation
  • Keeping and growing wealth within a family over generations
  • Enjoy the fruits of being wealthy together
  • Building the value and responsibility for the future society
  • HNWIs who are serious in the deployment of wealth into impact investing
  • Private bankers and family offices
  • Foundations, philanthropic organisations and charities
  • Independent institutions serving HNWIs, including but not limited to wealth management companies, insurance companies, trust companies, securities, law firms and tax agents
  • Healthcare companies, luxury brands, overseas education consultancies and overseas property agencies
  • Investment specialists, product designers, financial planners, portfolio managers and senior relationship managers

Agenda

Wealth & Society 2021

Wednesday, 22 December 2021
Welcome note

Cindy Yu, Executive Director and Head, Greater China, The Asian Banker

Opening remarks

Gordian Gaeta, Chairman, Wealth and Society

Taking action now to accelerate the global sustainability transition

The coronavirus pandemic wreaks havoc across much of the globe from all aspects. Political, business and academia leaders are starting to think about how to rebuild the relationship between man and nature, the relationship between man and man, and the inclusive and collaborative governance mechanism.

In the leadership dialogue, we focus on the challenges bringing us together and big ideas in policy, science, finance and technology to attain long-term sustainable development.

  • Rebuilding trust and partnerships to achieve the Sustainable Development Goals
  • Closing the gap between sustainable and economic growth
  • Climate change – the most urgent issue
  • Rethinking the impact of wealth
Speakers include:

Erik Solheim, Senior Adviser, World Resources Institute; former Under-Secretary-General, United Nations

Peggy Dulany, Fourth-generation member, Rockefeller family; Founder and Chair, Synergos

Frederick Chavalit Tsao, Chairman, IMC Pan Asia Alliance Group; Founder and CEO, OCTAVE Institute

Jia Kang , President, China Academy of New Supply-side Economics

Yao Jiangtao, President, China Trustee Association; Chairman, AVIC Industry-Finance Holdings and AVIC Trust

09:00 – 10:00
Keeping and growing wealth within a family over generations

Successfully passing the baton to the next generation is a goal for any family business. During the succession, what are the biggest challenges for them? How to fetch a better governance for family-owned companies and how to build up an efficient mechanism for better succession? How to balance between last generation’s tradition and new generation’s innovation?

  • Challenges of inter-generational succession in a family
  • New generations are making a positive impact
  • Family trust – more than wealth
Speakers include:

Du Qin, Global Headquarters Partner, Beijing Yingke Law Firm Shenzhen Office

Pan Xilong, Associate Professor, Institute of Chinese Finance Studies, Southwestern University of Finance and Economics

Kang Chaofeng, Chairman, Honghu Best Global Family Office

10:00 – 10:30
Enjoy the fruits of being wealthy together

"Common prosperity" is not a new idea in China. It was highlighted again as one of the nation's key long-term targets through 2035 and 2050. When some observers focus on the word “prosperity”, they worry about how the existing accumulated wealth would be redistributed involuntarily. However, if one interprets it from “common”, he/she will see it’s a process that social inequalities can be reduced and the fruits of economic development can be shared by all.

  • How to understand the wealth redistribution and “common prosperity”
  • The impact on wealth industry
  • What is the role that enterprises play?
  • Opportunities and challenges for philanthropy
Speakers include:

Shi Limin, Vice President, Zhe Jiang Provincial Charity Federation

Fu Changbo, Professor and PhD Supervisor, China Academy of Social Management / School of Sociology, Beijing Normal University

10:30 – 11:00
The opportunities and challenges for wealth industry in the upcoming era of China’s new asset management rules

In addition to the further opening up of financial markets and eased rules around insurance asset management products, the transitional period for the implementation of China’s new asset-management rules will cease at the end of this year, which all increases the complexity of wealth market. How do institutions identify the trends and get well-prepared to reform for long-term development?

Clients’ needs are changing as well with the increasing uncertainty of the global market. They focus more on institutions’ asset management and risk control ability as well as security and liquidity of assets. How can institutions build financial literacy for investors while meeting their expectations on the return?

  • Shaping a positive, measurable, and profitable investment strategy
  • Meeting customer's demands on wealth creation and preservation
  • How investors adapt to changing market
  • Opportunities brought by the launch of the Cross-boundary Wealth Management Connect
Speakers include:

Liang Dongqing, Managing Director and Deputy Head, Investment Product & Solution, China International Capital Corporation (CICC)

11:00 – 11:10
ESG - An evolving definition on value creation

There is a growing realisation that taking environmental, social, and governance (ESG) criteria into account brings great benefits for business and investors. For enterprises, the implementation of ESG strategy could mitigate risks and facilitate healthy growth. For investors, it reduces portfolio risk and generate competitive investment returns.

  • Transparency and standardisation in ESG reporting
  • ESG redefines what is a successful business
  • Why do both institutional and individual investors need to focus on ESG factors
Speakers include:

Allan Xie, Deputy Managing Partner, North China Risk Advisory, Deloitte China

Wang Xiaoshu, Executive Director and Head of ESG & Climate Research, APAC, MSCI

Jason Ma, Director, Investment Solutions, Russell Investments Management Shanghai

11:10 – 11:50
Building the value and responsibility for the future

A successful business is not only good at creating wealth, but also takes the lead to fulfil its commitments to the planet, the economy and local community. In this session, we will invite business leaders to showcase their best practices on building a better world with the goodwill, know-how, capabilities and technologies.

Speakers include:

Liu Yuanyuan, Founder and CEO, Melephant Sustainable Technology

Tashi Tsering, CEO, Songtsam Group

11:50 – 12:30

End of the conference

12:30

*This is a working agenda, content and speaker will be updated on a timely basis.

Speakers and Moderators

Erik Solheim
Senior Adviser, World Resources Institute;
Former Under-Secretary-General, United Nations
Peggy Dulany
Fourth-Generation Member, Rockefeller Family;
Founder and Chair, Synergos
Frederick Chavalit Tsao
Chairman, IMC Pan Asia Alliance Group;
Founder and CEO, OCTAVE Institute
Jia Kang
President,
China Academy of New Supply-Side Economics
Yao Jiangtao
Chairman,
AVIC Industry-Finance Holdings and AVIC Trust
Du Qin
Global Headquarters Partner,
Beijing Yingke Law Firm, Shenzhen Office
Pan Xilong
Associate Professor, Institute of Chinese Finance Studies,
Southwestern University of Finance and Economics
Kang Chaofeng
Chairman,
Honghu Best Global Family Office
Shi Limin
Vice President,
Zhe jiang Provincial Charity Federation
Fu Changbo
Professor and PhD Supervisor,
China Academy of Social Management / School of Sociology, Beijing Normal University
Liang Dongqing
Managing Director and Deputy Head, Investment Product & Solution,
China International Capital Corporation (CICC)
Allan Xie
Deputy Managing Partner,
North China Risk Advisory, Deloitte China
Wang Xiaoshu
Executive Director and Head of ESG & Climate Research,
APAC, MSCI
Jason Ma
Director,
Investment Solutions, Russell Investments Management Shanghai
Liu Yuanyuan
Founder and CEO,
Melephant Sustainable Technology
Tashi Tsering
CEO, Songtsam Group
Erik Solheim
President, Belt and Road Green Development Institute;
Former Under-Secretary-General, United Nations

Erik Solheim is a well-known global leader on environment and development. He will share his views on the outlook of green development with the collaborative endeavour that involves political leadership, business and citizens.Currently he is senior adviser at World Resources Institute and president of the Belt and Road Green Development Institute in Beijing. He is the Sixth UN Environment Executive Director and Under-Secretary-General of the United Nations. Prior to this position, Erik has been chair of the OECD Development Assistance Committee which is the main body of world donors. He served as Norwegian minister of Environment and International Development from 2005 until 2012. During that period, he initiated the global programme for conservation of rainforests and brought through game-changing national legislation - among them the Biodiversity Act and legislation to protect Oslo city forests. He brought Norwegian development assistance to 1%, the highest in the world.

Peggy Dulany
Fourth-generation member, Rockefeller family; Founder and Chair, Synergos

Peggy Dulany has been invited to share her views on what kind of leadership is needed to help the world become more peaceful, equitable, and sustainable. She is chair of Synergos, a global organisationthat helps solve complex issues around the world by advancing bridging leadership, which builds trust and collective action. She co-founded Synergos’ Global Philanthropists Circle with her father, David Rockefeller, to support philanthropic families in using this approach. Dulany’s career has included heading a public high school programme for drop-outs and consulting with the United Nations and the Ford Foundation on health care and family planning, and with the National Endowment for the Arts on non-profit management and planning. She has sat on over thirty non-profit and corporate boards including Stone Barns Center for Food and Agriculture, the Rockefeller Brothers Fund, and the Africa-America Institute, among others. She also runs two socially responsible businesses.

Jia Kang
President, China Academy of New Supply-Side Economics

Jia Kang has been invited to share his views on common prosperity and third distribution from fiscal and taxation perspectives. He is president of China Academy of New Supply-Side Economics, member of Committee ofEconomic Affairs of Chinese People's Political Consultative Conference, and former president of the Chinese Academy of Fiscal Sciences. Jia is a consulting advisor of the People’s Governmentof several municipalities including Beijing and Shanghai. He is also a distinguished professor at Peking University and Renmin University of China. He was a member of the expert committee of the Eleventh, Twelfth, and Thirteenth Five-Year Plan. Jia has attended several economic symposiums at the invitations of central government leaders such as Zhu Rongji, Wen Jiabao, Hu Jintao, and Li Keqiang. He was the winner of the SunYefang Prize.

Yao Jiangtao
President, China Trustee Association; Chairman, AVIC Industry-Finance Holdings and AVIC Trust

Yao Jiangtao will share his views on the outlook of the wealth industry and “common prosperity”. Yao is chairman and general manager of AVIC Industry-Finance Holdings and chairman of AVIC Trust. He has worked in various sectors of the financial service industry for more than forty years, including for trusts, securities, futures, funds and banks. Before joining AVIC, he was vice general manager of Jiangnan Trust and Investment, and general manager and chairman of Jiangnan Securities. Currently, he is also president and head of industry development research group at China Trust Association, as well as board member of China Foundation for Poverty Alleviation and Chinese Academy of Financial Inclusion.

Liang Dongqing
Managing Director and Deputy Head of Investment Product and Solution, China International Capital Corporation

Liang Dongqing will share her perspective on how wealth management institutions can maintain and increase the value of customers' wealth through asset allocation. Liang is the deputy head of investment product and solution (IPS) and managing director at China International Capital Corporation (CICC). She joined CICC in 2008 and has accumulated a wealth of research experience in macroeconomics in the strategic research team, providing in-depth and comparative research for government and company clients. Since 2010, Liang has led the team to set up a full research system of financial product evaluation. The product research team has evaluated over one thousand asset manager and over thousands of financial products. The team also provides asset allocation solution to the clients. IPS serves clients’ need on trading, financing, various products and asset allocation solution.

Jason Ma
Director, Investment Solutions, Russell Investments Management Shanghai

Jason Ma will share his perspectives on why both institutional and individual investors need to focus on ESG factors. He is director of Investment Solutions at Russell Investments Management Shanghai. He is responsible for designing bespoke FOF/MOM investment solutions for sophisticated institutional investors in China, including but not limited to asset allocation, manager selection and review, portfolio construction and management. Ma is also responsible for assisting the China general manager to develop the business in the region. Prior to joining Russell Investments, he worked for Mercer China as investment consulting director. He accumulated broad capital market investment experience and product knowledge while he worked at Bank Julius Baer and Standard Chartered in Singapore.

Wang Xiaoshu
Executive Director and Head of ESG & Climate Research, APAC, MSCI

Wang Xiaoshu will share her perspectives on the development of ESG disclosure and rating in China. Wang leads MSCI’s ESG research team in Asia Pacific and insurance sector research, primarily focused on ESG risk and performance analysis of companies in Asia Pacific and China. She has more than 9 years working experience in the ESG field. She has published a number of research reports on major ESG trends in China, as well as a series of insurance sector reports. Prior to joining MSCI, Wang was a management consultant at CapGemini, working with major Chinese bank and financial institution clients to address Basel III compliance, develop internal performance metrics systems, and improve operational processes. When she worked at Business for Social Responsibility, she defined sustainability strategies for over ten large MNCs and state-owned enterprises in China.

Kang Chaofeng
Chairman, Honghu Best Global Family Office

Kang Chaofeng, chairman of Honghu Best Global Family Office, will share his views on how to support wealthy families in keeping and growing their wealth over generations. After graduating with a PhD in 2004, he worked for Penghua Fund and Fullgoal Fund. He later joined Ping An Trust in 2009 to manage China’s first group of charitable and family trusts. He co-founded the first onshore family trust in China in 2012 and led a team to establish the China Ping An Education Development Charitable Trust in 2016. Under Kang’s leadership, his team won a number of awards from different medias over the recent years including from The Asian Banker, Securities Times and China Securities Journal.

Du Qin
Global Headquarters Partner, Beijing Yingke Law Firm Shenzhen Office

Du Qin will share her views on the keys to successful succession planning for family businesses. Du is global headquarters partner of Beijing Yingke Law Firm Shenzhen Office, director of Yingke National Committee of Marriage and Family Law, team leader of Yingke National Family Wealth Lecture Team and director of civil law committee of Shenzhen Lawyers Association. Du is a highly acclaimed marriage and family lawyer, dedicated to family law and wealth management for more than ten years. She specialises in handling major and difficult cases, including foreign-related marriage, inheritance and property division family cases. She is also the counselor at law for many family offices and private banks, specialising in the systematic design and implementation of family (business) wealth management and inheritance structuring.

Shi Limin
Vice President, Zhejiang Provincial Charity Federation

Shi Limin will share his insights on how to encourage high-net-worth individuals and enterprises to enable common prosperity. He is a research fellow of The Party School of the Communist Party of China (CPC) Central Committee (Chinese Academy of Governance).He is also the vice president of Zhejiang Provincial Charity Federation and vice president of Zhejiang Chairty Institute. He was deputy Secretary General of Zhejiang Provincial Committee of the CPC, Secretary General of Work Committee for Offices Directly under Zhejiang Committee, chairman of The Environmental Protection and Resources Conservation Committee of Zhejiang Provincial People's Congress.

Fu Changbo
Professor and PhD Supervisor, China Academy of Social Management / School of Sociology, Beijing Normal Universityration

Fu Changbo is professor and PhD supervisor of China Academy of Social Management / School of Sociology as well as director of China Social Innovation Institute at Beijing Normal University (BNU). He is also chief expert of China Family Philanthropy Initiator. Fu has been devoted to the development of philanthropy, social innovation, and a new social governance model based on collaboration, participation, and common interests since he resigned from central authority. He spearheaded reports and publications, including Report on A-Hundred-Million-Donation and Strategic Philanthropy in China, Report on Family Foundations in China,The List of Top 100 Philanthropists of Chinaand many others. He teaches courses such as Charity and Family Legacy and Business for Good and Family Legacy atBNU and other institutes.

Frederick Chavalit Tsao
Chairman, IMC Pan Asia Alliance Group; Founder and CEO, OCTAVE Institute

Tsao is the fourth-generation leader of IMC Pan Asia Alliance Group. He became chairman in 1995 and transformed the family business from a traditional shipping company to a diverse, multinational conglomerate.He founded Family Business Network Asia and served on the board of Family Business Network International, where he inspired the exploration of family businesses’ role within the global system. Tsao founded East West Cultural Development Centre to research on modernity and sustainability and realised that the world’s challenge is one of consciousness and evolution of humanity. He created AITIA Quantum Leadership Center and OCTAVE Institute as platforms, offering a new way for 21st century well-being by bringing together ancient wisdom and quantum science to create a harmonious society.

Liu Yuanyuan
Founder and CEO, Melephant Sustainable Technology

Liu Yuanyuan has been invited to share her story about making global printing and dyeing industry more sustainable. Liu has over twenty yearsof working in downstream textile production industry and in nursery products industry before she founded Melephant. To provide the safest materials and the best growing environment for children, Liu and her team developed the world's first bio-based dye with no color fading, zero pollution, and zero carbon emissions. In 2019, Melephant won the first place of Kering’s K GenerationAward.

Pan Xilong
Associate Professor, Institute of Chinese Finance Studies, Southwestern University of Finance and Economics

Pan Xilong is an associate professor and executive director of Financial Quotient Center of Institute of Chinese Finance Studies at University of Finance and Economics. He finished the research on catastrophe compensation fund mechanism in 2015. Beginning 2016, he focused on economic ethics with Chinese characteristics and proposed the “Five Virtues Financial Quotient Theory” that combined the idea of "spending, earning, preserving, investing and financing" with five constant virtues of Confucianism, namely benevolence, righteousness, propriety, wisdom and fidelity. Pan published several books including Citizenship Financial Education --- Teenager’s Five Virtues Financial Quotient, Wealth and ValueandFamily and Succession.

Sponsors

Supporting Organisations

Supporting Media Partners

Shanghai Banking Association (SBA), formerly known as Shanghai Banking Association of Foreign Exchange, was founded on December 22nd, 1992 and renamed in 1998. Established with the approval of Shanghai Administration of Social Organizations and guided by CBRC Shanghai Office, SBA is a professional, non-profit trade association, speaking for banks and other financial institutions in Shanghai. From a historical connection and inheritance perspective, SBA claims its kinship with Shanghai Bankers’ Association founded in 1918. As of April 30th 2018, SBA has a membership of 218. Full members include policy banks, privately owned banks, large commercial banks, joint stock commercial banks, city commercial banks, asset management companies, etc. Associate members mostly consist of representative offices of foreign financial institutions in Shanghai. www.sbacn.org
Shanghai Advanced Institute of Finance (SAIF) was established at Shanghai Jiao Tong University (SJTU) in April 2009 by the Shanghai Municipal Government. With the mission of becoming a world-class institution of research and advanced learning in finance and management, SAIF is committed to developing top talent and cutting-edge knowledge in finance, with a focus on Chinese markets and their global connections. SAIF is accredited by AACSB international and is among the youngest AACSB-accredited business schools in the world. www.en.saif.sjtu.edu.cn/
The China Global Philanthropy Institute (CGPI) was founded by Bill Gates, Ray Dalio, Niu Gensheng, He Qiaonyu and Ye Qingjun. It has grants from Bill & Melinda Gates Foundation, Beijing Dalio Public Welfare Foundation, Lao Niu Charitable Foundation, Beijing Qiaonyu Foundation and Dunhe Foundation, and is sponsored by the Shenzhen Yatai International Philanthropy Education Foundation. Ma Weihua, former president of China Merchants Bank, was named as the institute’s first chairman of the board, and Wang Zhenyao, professor at Beijing Normal University, was appointed as the first president. The institute actively takes advantage of its platform, gathering philanthropy leaders from around the world, facilitating the discussion of global issues, such as sustainable development, social impact investing, technology and charity innovation and climate change. CGPI is committed to promote transnational collaboration among Chinese and non-Chinese philanthropists, contribute to the innovation and professionalisation in the philanthropic sector and support the advancement of philanthropy in China and around the world. www.en.cgpi.org.cn/
Lujaizui Financial and Trade Zone (Lujiazui Financial City) is located in Pudong New Area, Shanghai. It covers an area of 31.78 square kilometers, and is China’s only national level development zone with financial and trade in its name. In 2009, the State Council officially confirmed Lujiazui Financial and Trade Zone as the core functional area for Shanghai’s international financial and shipping centre initiative. Lujiazui Financial City enjoys the most comprehensive financial market systems, infrastructures and ecosystems. It has become an important platform for financial institutions and professionals to conduct financial activities and trade. It is also benchmarking the world’s top financial centres, such as New York City’s Wall Street and the City of London. As the testing ground for institutional innovations in finance and trade, Lujiazui centres Shanghai’s goal to become a truly global and world-class financial city.
Savvy Investor is the world's leading knowledge network for institutional investors, curating the best investment news and white papers from around the globe. The research library is made up of 50 topics, including a section enabling members to instantly access the latest Private Wealth and Family Office white papers and a directory of investment conferences. Savvy Investor is entirely free to sign up to, offering all 40,000 members a completely personalised experience based on their topic preferences. Companies can enhance their reputation by publishing research and managing their company page in the Company Directory. Sign up today at www.savvyinvestor.net
Bank of Beijing is a Sino-foreign joint stock commercial bank established in 1996. The bank has achieved several milestones, including introducing overseas strategic investors, public listing and business mixed operation. Currently, the Bank has set up nearly 600 branches not only in mainland China, but also in Hong Kong and the Netherlands. On the latest World Top1000 Banks list, Bank of Beijing ranks No.73 in terms of tier1 capital. The success of Bank of Beijing has established a classic development pattern for small- and medium-sized banks.
CCB TRUST CO., LTD. is a non-bank financial institution as subsidiary of China Construction Bank (CCB). By the end of 2018, the total trust assets under management maintained at 1.4039 trillion RMB. CCB Trust is headquartered in Beijing and has set up its operation centers in many places including Shanghai, Guangzhou, Shenzhen and etc., and set up a subsidiary in Hong Kong, giving rise to a nation-wide and international business development layout. By making full use of its flexibility in connecting different markets, industries and products, CCB Trust has deeply responded to the endogenous demands for building a multi-layer capital market system, established three key business directions for transformation including industrial investment bank, asset management and wealth management, actively implemented the national industrial restructuring and macro-economic policies, deeply developed eight major areas including urban infrastructure, in-depth reform and asset management, vigorously supporting the development of real economy. CCB Trust has grown up to be a leading trust company in the industry with its quality and reliable clients, rapidly improved achievements, robust and effective risk-control, and innovation-driven development.
Phoenix Finance is a comprehensive intelligent financial service platform established by Phoenix TV Group for global Chinese. In the past five years, driven by digital technologies, Phoenix Finance has established three business sectors, including inclusive finance, wealth management and global business, and achieved the development in the form of conglomerates. Through the self-developed digital technology system, big data platform, intelligent mode and analyze search engine, as well as effective business process system, Phoenix Finance provides creative, intelligent and individual finance services which are accessible at all time and places to users from China, north America, south-east Asian and other areas. Up to now, the number of platform users had reached 12 million.

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