Forum Parallel Sessions

A1:  Vivid Traces of Chinese LPs: Pension Funds, Insurance Funds and Government Guiding Funds, etc.

14:00pm-15:45pm, Friday, 11 April 2008

With the further development of its economy, China has cultivated a number of local LPs who are holding a considerable amount of capital and seeking investment opportunities. Moreover, the implementations of policies related to the “Provisional Measures on the Administration of Venture Capital Enterprises” and regulations such as the “Partnership Business Law” further serve to remove the investment obstacles to local LPs in China. How will they now begin their journey on the road to venture capital investment with instruments such as pension funds, insurance funds, guiding funds from the Government, direct investment from securities companies and civilian capital? The senior managers of these funds will share their valuable experience with the audience.

Speaker Profile: Policy makers of Guiding Funds from the Government, Fund managers of Pension Funds, Insurance Funds and securities companies

B1:  Up-and-Coming RMB Funds: Modes, Returns and Risks

14:00pm-15:45pm, Friday, 11 April 2008

Some years ago, the venture capital funds in China mainly involved USD, and the major method of exit was by listing on an overseas stock market through invested enterprises. As the multi-level capital market is becoming more and more active, exit through IPO is now possible in the mainland market. RMB investment projects, such as COSHIP Electronics and YGSOFT, have achieved high returns on investment, and more RMB funds are being raised. Nonetheless, what policy obstacles might there be to the establishment of RMB PE/VC funds? What will the methods of exit and their prospects be? How can LPs earn investment returns? Similar issues concern the numerous foreign institutional investors, who have misgivings about fund investment in China. In this session, the managers of an RMB fund established in China will explore their experiences of fund operation.

Speaker Profile: renowned international PE/VC investors and LPs who have established or will establish an RMB fund sin China

A2:  How to get into the Chinese Market: views from international LP?

16:00pm-17:45pm, Friday, 11 April 2008

Many International LPs have started to realise the following fact: investment in merely one to two American or European private equities or buyout funds is not enough. What they need to do is to seize the investment opportunities in the, Asian market, especially the Chinese market, as it is undergoing rapid economic growth. However, is it the best time to invest in China? What kinds of policies and investment envi, , , ronments there are in need of further improvement and development? Have the international LPs who have engaged in the Chinese market earned the profits they had expected? This session will bring together international LPs who have successfully engaged in investment in the Chinese market and those who have had misgivings about this market. They will share their perspectives through in-depth discussions on issues such as the best time and mode to engage in the Chinese market and how to evade investment risks.

Speaker Profile: Leading international LPs who have successfully engaged in investment in the Chinese market and international LPs who have had misgivings about this market

B2:  Exit Strategies of PE & VC in China: Local Capital Market Vs. International Capital Market

16:00pm-17:45pm, Friday, 11 April 2008

China’s long-awaited growth enterprises market (GEM) has been launched in Shenzhen. Compared to GEMs in other countries, what has China done to make its GEM more attractive to listed companies? As for the huge number of enterprises wishing to go public, which will they choose—to be listed in China’s capital market or an overseas capital market?

This session will bring together directors of the Shenzhen GEM, NASDAQ, the UK AIM market and Singapore’s and Hong Kong’s capital markets to talk about the advantages of each. Moreover, entrepreneurs whose companies are about to be listed will share how they choose where to go public.

Speaker Profile: Directors of the Shenzhen GEM, NASDAQ, the UK AIM market and Singapore’s and Hong Kong’s capital markets, etc. as well as the pre-IPO companies.

C :Financing Alternatives: PIPEs (Private Investment in Public Equity)

14:00pm-17:30pm, April 11, 2008

Companies in China continue to explore alternative financing techniques.  At the same time, the global PIPE market has evolved into a mainstream alternative for many high-growth or small companies interested in raising cash through private placements.  What is necessary to prepare a Chinese company to go public in the United States?  Panelists discuss various transaction structures, accounting issues, disclosure, investor relations, press releases, the importance of the board of directors and spokesman, and critical issues in choosing an investment banker.

Speaker Profile: Investment bankers from Wall Street, lawyers from securities industry and hedge fund managers.

A3:  The Hottest Sectors for Investment in 2008: Life Science, Health Care, Education Industries

8:45am – 10:30am, Saturday, 12 April 2008

Anyway, education and health sectors are definitely two big deals that are related to national economy and livelihood of the people. From macro-view, education and health reform are always the key point of Chinese government work. From micro-view, both life science and health care sectors belong to the hi-tech area, and venture capital is in great demand and has been secured in these two sectors. Recurring to New Oriental and ChinaEdu Corporation, etc, education industry has become a high growth potential industry without government funding any more. We would like to find quality enterprises to keep the sustainable development in these sectors.

In this session, experienced investors in China will share their perspectives on the up-and-coming industries for investment in the near future.

Speaker Profile: leading PE &VC investors who have huge investment in China and have successful exit cases; Entrepreneurs in the sectors of Life Science, Health Care, Education Industries

B3:  The Hottest Sectors for Investment in 2008: TMT, Clean-tech and Retail Industries

8:45am – 10:30am, Saturday, 12 April 2008

Since the development of venture capital industry, TMT and clean-tech industries are always the focus of venture capital. Endlessly technology innovations or mode innovations in TMT sector and the truth of sustainable development in clean-tech sector have attracted a lot of attention. While in China, due to the huge consumption market, many traditional sectors have considerable value-added potential, and have draw more and more venture capital, for example, Meng Niu Dairy, Home inns and Inner Mongolia Little Sheep Catering Chain, PPG. What will be the next hot-bed of VC investments in 2008? How can investors choose quality enterprises for investment amongst these industries?

In this session, the audience will have a chance to interact with and learn from experienced investors in China, who will share their perspectives on the up-and-coming industries for investment in the near future.

Speaker Profile: leading PE &VC investors who have huge investment in China and have successful exit cases; Entrepreneurs in the sectors of TMT, Clean-tech and Retail Industries

A4:  PE in China: Current Status Versus Development; Problems Versus Solutions

10:45am – 12:30pm, Saturday, 12 April 2008

Sweeping through the global market, PE began to break successive records in mergers and acquisitions. It then entered the Chinese market at various levels and has also become a force to be reckoned with in this market. Short boards in corporate management and capital structure of both state-owned and private enterprises in China, and the low efficiency of the mainland capital market provide a chance for long-term development for PE. Renowned Chinese economists, veteran practitioners and the head of the state investment institution in China will share their perspectives on the present and future routes for PE development in China.

Speaker Profile: famous economists, senior PE players and directors of the national investment institutions.

B4:  PE in China: Investment and Exit Strategies

10:45am-12:30pm, Saturday, 12 April 2008

China is the new focus of the 21st Century. Back to the 1990s, as VC investment was entering the Chinese market, the initial dream of VC investors was to invest in such high-technology areas as networks, biotechnology and new materials, thus helping the Chinese technology elite to accomplish their dream of technology development and become as successful as their US counterparts. But now, the development of VC investment in China has proven that traditional industries with innovative operating methods are more capable of attracting capital investment. So what is making international PEs review their investment direction in the biggest emerging market—China? What opportunities will come out of the process of upgrading from “Made in China” to “Chinese consumption” and “Chinese services”? As the capital market system in China is not yet fully developed, how can PEs help enterprises to make further breakthroughs in their operations and in the capital market? This session will explore the strategies of top international PEs with reference to the Chinese market.

Speaker Profile: Top global PE players, leading local PE players.

A5:  VC in China: Current Status Versus Development; Problems Versus Solutions

14:00pm-15:45pm, Saturday, 12 April 2008

Since 1985, VC investment in China has experienced a number of changes: from being relatively unknown to becoming world-famous, from being hardly able to survive to running at the head of the pack, from being a government procedure to being commercially operated and from being mainly invested in by domestic players to involving considerable quantities of foreign capital. Moreover, both the policy and social environments faced by the VC industry have been gradually improving, and the investment philosophy has been changing throughout the years. Under such circumstances, at what pace will the industry now develop? To what extent will the industry promote the economic development of China? What problems will be faced and are waiting to be solved by the industry? In this session, speakers will explore the above questions from the viewpoint of VC investment practitioners.

Speaker Profile: Renowned PE/VC players from home and abroad, scholars/researchers in PE/VC industry

B5:   VC’s View: Investment Strategies in China’s Start-ups

14:00pm-15:45pm, Saturday, 12 April 2008

Throughout the PE/VC industrial chain, VC places a great deal of emphasis on investment in early-stage start-ups. However, these early-stage start-ups are only just setting up their business and may even stay at the stage of mere business ideas, with no operating results or financial data as a point of reference. So how do VC investors identify the investment opportunities from amongst these start-ups? How do they conduct due diligence exercises on the start-ups at such an early stage, and how do they evaluate the value of the start-ups? As for start-up enterprises, how can they seek out suitable VC investment institutions? How do they introduce their business plans? How do venture capitalists and start-up entrepreneurs carry out negotiations, and how do they decide on investment details? Specific instructions about these issues will be given in this session.

Speaker Profile: Leading foreign VC players, outstanding local VC players, and successful entrepreneurs.

A6:  The Key for Chinese Enterprises to Grow Bigger and Stronger

16:00pm-17:45pm, Saturday, 12 April 2008

Factors such as talented executives and professionals, technology, capital and markets are essential to the development and expansion of an enterprise. Yet, most importantly, the enterprise should establish and set up its corporate spirit, the right notions of entrepreneurship, its brand and corporate culture and a good business model. Only by doing so can enterprises achieve strong and stable growth and, above all, become successful and remain winners in the midst of keen competition.

So what can we do to achieve this? In this session, the speakers will provide an answer.

Speaker Profile: Leaders of the National economic research institutions, renowned economists

B6: Closing forum—Opportunities and Challenges: To Invest in the Inflationary Age

   16:00pm-18:00pm, Saturday, 12 April 2008

With the rapid economic growth and blistering economic figures in China, economists and government officials generally worry whether China is currently facing an overall inflationary period.  Increasing inflationary expectations raise inflationary pressure from the prices of industrial products and consumer goods. In addition, when “perceived inflation” is bigger than “actual inflation”, the price expectations might be pushed to a higher position. Under increasing global inflation pressure, can China’s rapid economic growth continue? Under what circumstances will the changing point in the Chinese economy occur in the future? What kind of investment opportunities and risks will accompany the RMB appreciation expectations? Together with our audience, renowned Chinese economists will explore the routes for China’s economic growth.

Speaker Profile: Excellent entrepreneurs and outstanding venture capitalists