Dr. William Ren, President of ACFP, attended the fourth Huang Liang Memorial Lecture on April 6, 2004 at the Stanford Center for International Development,Stanford University, featured with the speaker of Princeton Professor Emeritus of Economics Gregory Chow.

Dr. William Ren, Dr. Henry Zhang, and Mr. Ray Zhu attended a luncheon hosted for Mr. Shanlu Zhu, Vice Mayor, Beijing

Dr. William Ren, Dr. Henry Zhang, Mr. Ray Zhu, and other ACFP members attended a luncheon co-hosted by Beijing University Alumni Association and ACFP to welcome Mr. Shanlu Zhu, Vice Mayor, Beijing. Other delegates include Mr. Xuechao Geng, Director of Beijing Education Committee, Mr. Hongyu Ding, Director of Office for International Cooperation and Exchange, and Mr. Jun Liu, President of TOPEAK Group.  

In the meeting ACFP team discussed with the delegates about cooperation opportunities, including holding forums and training and setting up an institute of finance.

Dr. William Ren and Ms. Ruby Lu attended the conference of China’s Market Reforms held at Stanford University

On September 19^th and 20^th, 2003, Dr. William Ren, President of ACFP, and Ms. Ruby Lu, VP-Investment Banking of ACFP, attended the annual conference on China’s economic policy reform organized by Stanford Center for International Development. 

Attendees included Mr. Huancheng Xiang, Chairman of National Council for Social Security Fund and former Minister of Finance, China, Mr. Andrew Sheng, Chairman of Hong Kong Securities and Futures Commission, Mr. Fred Hu, Managing Director of Goldman Sachs (Asia), Mr. Hang-Sheng Cheng, President of The 1990 Institute, and other executives of financial institutions as well as researchers and professors from universities such as Stanford University, Yale University and Beijing University.

Dr. William Ren, President of ACFP, attended a luncheon organized by Merrill Lynch

Dr. William Ren, President of ACFP attended an exclusive luncheon on September 9 at the Penthouse Suite of the Fairmont Hotel in San Francisco.  The luncheon was featured with David Tralka, Chairman of Business Financial Services, Merrill Lynch.

Dr. Nicholas Hope, Deputy Director of Center for Research on Economic Development and Policy Reform (CREDPR) and Former Country Director-China, The World Bank, joins ACFP Honorary Board

ACFP is very pleased to announce that Dr. Nicholas Hope, Deputy Director of Center for Research on Economic Development and Policy Reform (CREDPR) and Former Country Director-China, The World Bank, joins ACFP Honorary Board on June 5, 2003.  Dr. Hope received his Ph.D. from Princeton University and worked for The World Bank from 1977 to 2000.  He is an expert on China issues.  Dr. Hope's participation to ACFP is definitely an honor to ACFP and all her members.  CREDPR and ACFP will explore cooperation opportunities in future.

Dr. Xinghai Fang, Deputy Chief Executive Officer, Shanghai Stock Exchange, China, joins ACFP Honorary Board

ACFP is very pleased to announce that Dr. Xinghai Fang, Deputy Chief Executive Officer, Shanghai Stock Exchange, joins ACFP Honorary Board on June 5, 2003.  Dr. Fang received his Ph.D. from Stanford University and worked for the World Bank, China Construction Bank, and Galaxy Securities, China.  Dr. Fang's participation to ACFP is definitely an honor to ACFP and all her members. 

Ms. Jessie (Jie) Hu, Chairman of Property & Casualty Insurance, Ping An Insurance Company of China, joins ACFP Honorary Board

Ms. Jessie Hu, Chairman of Property & Casualty Insurance, Ping An Insurance Company of China, accepted the invitation of Association of Chinese Finance Professionals (ACFP) on July 16, 2002 and became a member of ACFP Honorary Board. It is definitely an honor to ACFP and all her members. Ping An Insurance and ACFP will explore cooperation opportunities, especially in the training area.

Dr. William Ren, President of ACFP, attended a dinner session hosted for the Delegation of the Ministry of Finance

On June 20, Dr. William Ren, President of ACFP, attended a dinner session organized by Center for Research on Economic Development and Policy Reform (CREDPR), Stanford University for the delegation of the Ministry of Finance, China.

The 30-people delegation is led by Assistant Minister, Ms. Shuping Feng, and comprised mainly officials at the Director General or Director level.

The purpose of this delegation is to train the next generation of senior finance officials in China in economic development and public finance issues. The delegation leaders have also expressed an interest in learning from the Enron crisis, California energy deregulation, the Orange County bankruptcy and so on.

The keynote speaker of the dinner was Secretary George Shultz, who spoke on aspects of China ­ US relations.

A few local scholars and business leaders, such as Mrs. Linda Tsao Yang, who, under Clinton's Administration, was the US Ambassador to Asia Development Bank for six years.

Before and during the dinner session, Dr. Ren discussed with Assistant Minister Feng and other Directors about the future cooperation between ACFP and the Ministry of Finance.

Dr. Haifeng Huang, VP of ACFP, attended ?002 Euro-China Co-operation Forum on the Information Society?on April 18.

Dr. Haifeng Huang, VP of ACFP, attended ?002 Euro-China Co-operation Forum on the Information Society? This grand event, co-sponsored by the Ministry of Science and Technology P.R.C., the Ministry of Information Industry P.R.C. and the European Commission, aims to enhance the dialogue and cooperation and to strengthens R&D and business relationships in the field of information society between China and Europe.

Dr. Haifeng Huang, VP of ACFP, met Mr. Mu Tao, Vice Mayor of Dujiangyan

On April 10, Dr. Haifeng Huang, VP of ACFP, meet Mr. Mu Tao, Vice Mayor of Dujiangyan Municipal People’s Government. He welcomes more investment from USA and other countries, and hopes to have cooperation with ACFP in the near future.

ACFP Trip was broadcasted on April 7 on CCTV Channels 4 and 9.

ACFP delegation’s trip from March 23 to March 30 was broadcasted on CCTV Channel 4 and Channel 9 on April 7, 2002.

Dr. Henry (Zili) Zhang was interviewed on April 4 by Xinmin Evening News, Money Weekly and Wen Hui Daily in Shanghai

On April 4, 2002, Dr. Henry Zhang was invited to Wen Hui Daily headquarter in Shanghai to be interviewed jointly by senior staff of Xinmin Evening News, Money Weekly and Wen Hui Daily. Shanghai media expressed tremendous interest for knowing more about ACFP and its members and hosting any future joint conferences in Shanghai.

Dr. William Ren, President of ACFP, was interviewed by CCTV 9 in Qing Dao on March 29

On March 29 , 2002, Dr. William Ren was interviewed by CCTV 9 in Qing Dao to summarize the ACFP's China trip. In this 20-minute interview, Dr. Ren summarized the accomplishments that we made and some lessons that we learned. CCTV Channel 9 has followed ACFP delegation from March 22 to March 29.

Dr. Larry Zhang visited GuoTong Securities in ShenZhen on March 28

On Mar.28, 2002, Dr. Larry Zhang, a member of ACFP, visited Guo Tong securities and gave one full day training seminar to over fifty security-industry analysts and other related professionals from Guo Tong Securities and other securities companies in Shenzhen.

On Mar. 29, Dr. Zhang was also invited to visit China Eagle Securities and met with their top management team and their research teams to discuss related issues.

Dr. William Ren, Dr. Haifeng Huang, and Dr. Henry Zhang were invited as members of Qingdao Association of International Exchange of Personnel

On March 30, 2002, Dr. William Ren, Dr. Haifeng Huang, and Dr. Henry Zhang were invited by Shangdong Qingdao Association of International Exchange of Personnel, as overseas members. The certificates were presented by Mr. Yao Ji Hua, Director of the Association.

Dr. Haifeng Huang, VP of ACFP, meet Mr. Zhang Xin Qi, Vice Mayor of Weifang on March 30

On March 30th. Dr. Haifeng Huang, VP of ACFP and Senior Consultant of OCSF (Oversea Chinese Student Fund), met Mr. Zhang Xin Qi, Vice Mayor of Weifang People’s Government. Mr. Zhang welcomed more oversea Chinese students/scholars to set up companies in Weifang.

The speech highlights of Dr. Haifeng Huang, VP of ACFP, was published on Qing Dao Caijing Daily, March 29

The speech highlights about banking transition after TWO, delivered by Dr. Haifeng Huang, VP of ACFP, in ACFP-QingDao conference, was published on Qing Dao Caijing Daily, March 29, 2002.

Dr. William Ren, President of ACFP, was interviewed by Qing Dao Caijing Daily on March 28

Dr. William Ren, President of ACFP, was interviewed by Qing Dao Caijing Daily on March 28, 2002, during the ACFP-QingDao conference. The brief interview was published on Qing Dao Caijing Daily, March 29, 2002.

ACFP Delegation visited Qing Dao from March 28 to March 29

On March 28, ACFP delegation headed by President William Ren held a conference at Hai Tian Hotel with 350 finance professionals in Qing Dao. In the conference, delegates covered following areas: Banking after WTO, Mutual Funds and Its Management, Capital Allocation, Venture Capital, and Financial Risk Management Overview. ACFP delegates have answered many questions on site and followed-up questions from emails.

ACFP had a dinner meeting with Qing Dao municipal officials, including Vice Mayor Zong He, Mr. Hui Xinan, Vice Director, Personnel Bureau, Mr. Yao Ji Hua, Director, Qingdao Association of International Exchanges of Personnel, Mr. Zhao Qin Bo, President of Hua Xia Bank - Qingdao Branch, and other officials. On March 29, ACFP delegation toured Haier.

Dr. Harry Huang, EVP of ACFP, gave a presentation to China Insurance Corporation on March 28

On March 28, 2002, Dr. Harry Huang, EVP of ACFP, was invited by China Life Insurance Company to give a presentation on practical issues in implementing modern financial risk management systems. China Life, spun off from China People’s Life Insurance Company, is today the largest insurance company in China. It recently established Risk Control Department to manage internal risks, primarily from its asset management operations, and is seeking to upgrade its risk management practices for the upcoming challenges from foreign competitions and financial modernization.

The presentation was well received. More than 100 senior managers (ChuZhang and above) from China Life, including Mr. Wang Xianzhang, its President of China Life, Mr. Miao Fuchun, its Vice President, and most senior managers from Risk Control Department, attended the two hour session at its headquarter in Xicheng District, Beijing. Dr. Huang tackled many practical issues in operational control, fraud prevention, organizational structure, credit and market risk management, and issues specific to life insurance companies and asset management operations.

He observed that in life insurance companies, asset management is increasingly considered more important than policy underwriting, thus demanding a new type of thinking in proper risk management. His advises on how to establish clear organizational structure and rigorous control seemed to have attracted the most interest from the audience. Dr. Huang also gave a brief introduction on the activities of ACFP, and laid the groundwork for future joint endeavors.

Dr. Larry Zhang gave a presentation to the MBAs at the College of Economics and Management, Tsinghua University on March 27

On March 27, 2002, Dr. Larry Zhang was invited to give a presentation in asset management to the international MBA class at the college of Economics and Management, Tsinghua University. The presentation was well received by a couple of hundreds students and faculties.

Economic Observers and ACFP held a training session in Beijing on March 26 and 27

On March 26 and 27, 2002, Economic Observer and ACFP held a training session in Beijing. The training covered US Venture Capital Development, US Mutual Funds and Its Management, Risk Adjusted Return on Capital (RAROC), US Corporate Loan Evaluation Process, China’s Financial Risk Management after WTO.

Due to various reasons, speakers? contents and attendees?interests didn’t match and the training results were not good. Also, some speakers?schedule change impacted the training too. Both parties have realized the problem and hopefully can do a better job next time.

Dr. William Ren, President of ACFP, was interviewed by Phoenix Satellite Television on March 26

On March 26, 2002, Dr. William Ren, President of ACFP, was interviewed by Phoenix Satellite Television. Dr. Ren answered a few questions about current and future opportunities and challenges faced by the financial industry in China.

Dr. Haifeng Huang, VP of ACFP, attended the ?1st Century High/New-tech Industrial Park Forum?on March 26.

Dr. Haifeng Huang, VP of ACFP, Dr. Xu Jingjing, CEO of Asia Alliance Holdings, and Dr. John W. Sibert , Managing Director of Global Financial Group, were invited by the Administration Commission of Zhongguancun Scientific Park Zone to participate the ?1st Century High/New-tech Industrial Park Forum?on March 26th in Zhongguancun Scientific Park Zone. The 21st Century High/New-tech Industrial Park Forum is jointly sponsored by the Municipal Government of Haidian District and the Administration Commission of Zhongguancun Scientific Park Zone with the purpose of academic exchanges so to explore development of high/new-tech industries and constructions of high/new-tech zones. Other purposes also include industrializing the results of high/new-technologies and enforcing rapid growth of regional economy, and strengthening the cooperation and exchange between America and the Scientific Park Zone. Mr. Zhu Shan Lu, Secretary of CPC of Beijing Haidian Committee met our members,

Dr. William Bodine, Dr. Henry (Zili) Zhang, and Dr. Haifeng Huang, and Mr. John Zhao were interviewed by Hunan Satellite TV on March 25

On March 25, 2002, some ACFP Delegation members were interviewed by Hunan Satellite TV after the meeting with Ambassador Li Dao Yu. These members are: Dr. William Bodin, Dr. Henry (Zili) Zhang, Dr. Haifeng Huang and Mr. John Zhao.

ACFP Delegation held a roundtable discussion with top researchers and policy makers in the financial industry on March 25

On March 25, 2002, arranged by China International Public Relations Association (CIPRA), ACFP delegation had a roundtable discussion with top researchers and policy makers in China's financial industry. Attendees included former Ambassador Li Dao Yu, President of CIPRA; Professor Zhang Yannong, Executive Vice President and Secretary General of CIPRA; Mr. Ding Yifan, Deputy Director, Institute of World Development, Development Research Center, the State Council of China; Prof. Dr. Yu Yongding, Director of Institute of World Econmics and Politics of Chinese Academy of Social Sciences; Prof. Zhang Shiquan, Deputy Director of International Technology and Economy Insitute, Development Research Center of the State Council; Li Gang, Associate Fellow of Institute of World Development, Development Research Center of the State Council; Mr. Liang Jianwu, Assistant Director of Center for Economic Security Studies, China Institute of Contemporary International Relations; Dr. Wang Xiaoya, Research Bureau of the People’s Bank of China; Lin Gang, Deputy Editor of Capital Markets Magazine.

Mr. David Yu, VP of ACFP, was interviewed by China Science and Technology Daily on March 24

Mr. David Yu, VP of ACFP, was interviewed by China Science and Technology Daily on March 24. Mr. Yu reviewed the Venture Capital development in the US and made some recommendations for the venture capital development in China. The interview was published on March 28.

Dr. Henry (Zili) Zhang was interviewed by CCTV 9 in Beijing on March 24

On March 24 , 2002, Dr. Henry Zhang was interviewed by CCTV 9 in Beijing’s Grand Hyatt Hotel. The interview covered many topics, especially about the recent trend of overseas Chinese scholars and professionals returning China for future opportunities. Dr. Zhang expressed his personal opinions about the policy and rules of attracting overseas talent emphasizing mutual trust and market mechanism. This interview was included in the April 7 CCTV 9 broadcasting.

Dr. William Bodine, Keynote Speaker of the Forum, was interviewed by China Central Television English Channel Financial Review on March 24

On March 24, 2002, Dr. William Bodine, Chairman & Managing Director of Investment Advisory Group and ACFP invited keynote speaker, was interviewed by CCTV English Channel Financial Review. In this thirty minutes interview, Dr. Bodine gave his recommendation to China's financial industry in the area of financial risk management.

Dr. William Ren, President of ACFP, was interviewed by China Central Television English Channel Financial Review on March 24 On March 24, 2002,

Dr. William Ren, President of ACFP, was interviewed by CCTV English Channel Financial Review. In this fifteen minutes interview, Dr. Ren answered a few questions about current and future opportunities and challenges faced by the financial industry in China.

 ?002 International Forum on China’s Financial Risk Management?was successfully held in Beijing on March 23 and March 24

Approved by the Ministry of Science and Technology, People’s Republic of China, and led by the China National Science and Technology Venture Capital Development Center and the Macroeconomic Department of Development Research Center, The State Council of People’s Republic of China, co-organized by the National Science and Technology Venture Capital Development Center and Association of Chinese Finance Professionals (U.S.), and assisted by the Hong Kong Exchanges and Clearing Limited and Beijing Executives Club, the "2002 International Forum on China’s Financial Risk Management" were successfully held on March 23 - 24, 2002, in Beijing, China.

ACFP invited keynote speakers, Dr. William Bodine, Dr. John Sibert, Mr. Paul Matthews and ACFP members Dr. Harry Huang and Mr. David Yu delivered presentations. Dr. William Ren delivered a short opening speech and hosted one morning session. There were over 250 attendees and Mr. Maurice Strong, Under Secretary of United Nations, attended opening ceremony.

Dr. William Ren, President of ACFP, had a lunch meeting with Dr. Nick Hope, Acting Director of CREDPR, Stanford University, Dr. JingJing Xu, CEO of Global Financial Group ?Asia, and Dr. Min Zhu, Founder, President and CTO, WebEx.

On March 14, 2002, Dr. William Ren, President of ACFP, had a lunch meeting with Dr. Nick Hope, Acting Director of Center for research on Economic Development and Policy Reform (CREDPR), Stanford University, Dr. JingJing Xu, CEO of Global Financial Group ? Asia, and Dr. Min Zhu, Founder, President and CTO, WebEx to discuss the future corporation among these institutions to develop some long-term program between US and China.

Dr. Hope worked for the World Bank as the director of Office of the Vice President, Europe and Central Asia, 1997 ? 2001, and Country Director, China & Mongolia, 1994 ?1997. He is a well-known expert on China issues.

Dr. Haifeng Huang, VP of ACFP, attended the celebration of the 30th anniversary of President Nixon’s historic visit to China on March 10.

On March 10th. Dr. Haifeng Huang, VP of ACFP, were invited by Julie Nixon Eisenhower and her husband Dwight David Eisenhower II to join them for a dinner in celebration of the 30th anniversary of President Nixon’s historic visit to China.

China International Public Relations Association Invites ACFP Delegation to Visit China

On Febuary 24, 2002, Dr. Haifeng Huang, VP of ACFP, had a meeting with Professor Yannong Zheng, Executive Vice President and Secretary General of China International Public Relations Association, (CIPRA, www.chinapr.com.cn) to discuss the bilateral corporation and inviting an ACFP delegation to visit China.

Following agreement has been reached: CIPRA will officially invite an ACFP delegation to visit China and will arrange the CIPRA President and other top officials to meet the delegation.CIPRA will also arrange ACFP to meet famous Chinese economists and top Executives from Chinese financial institutions.

Mr. Daniel Wang, VP of ACFP, visited five cities in China

To promote the Association of Chinese Finance Professionals (ACFP), Mr. Daniel Wang, VP of ACFP, visited, from October 25 to November 4, 2001, the following five cities: Beijing, Shanghai, Guangzhou, Shanton, and Shenzhen. In his trip, Mr. Wang met local government officials, company CEOs, and Mutual fund senior managers and discussed business and financial impacts after China’s entry to WTO. They believe that there are many areas that ACFP and Chinese local government and businesses can work together to explore the opportunities and face the challenges. In his visit, Mr. Wang also promoted the upcoming symposium that ACFP will hold in Beijing in late March 2002. Several companies are interested in sponsoring the event.

Mr. David Yu, VP of ACFP, attended Overseas Financial Experts Seminar in Shenzhen

Invited by the China 3^rd Hi-Tech Affair Organization Committe, Mr. David Yu, VP of ACFP, presented in the Overseas Financial Experts Seminar in October, 2001 in Shenzhen, China, regarding venture investing in the United States. The talk is well received by the audience and media. Mr. Yu was interviewed by reporters from People’s Daily, Guanzhou Evening News, Shezhen TV, Shenzhen Radio, Shenzhen Daily and was featured in several of their programs. Afterwards, Mr. Yu also attended the founding meeting of Chinese VC Association and met with many Chinese VC professionals from Beijing, Shanghai, Shenzhen etc. During this trip, Mr. Yu also visited Shenzhen, Zhuhai’s Hi-Tech development zones and met with vice mayors of Shenzhen, Luoyang, Fushun.

Dr. Haifeng Huang, VP of ACFP, is invited to attend a meeting hosted for US ambassador to China Clark T. Randt, Jr.

The Hopkins-Nanjing Center has cordially invited Dr.Haifeng Huang, VP of ACFP, to attend a meeting on November 15. The keynote speaker is U.S. ambassador to China Clark T. Randt, JR.

Dr. Haifeng Huang, VP of ACFP, published two papers in China

Dr. Haifeng Huang, VP of ACFP, recently has published two papers in China. The first one was published in newspaper, Science Times (www.sciencetimes.com.cn), on October 10. The title of the article is "E-commerce and Venture Capital Investment". The other paper was published on Sina.com on October 11. The subject of the article is "The Development of China Financial Industry after China's Entry to WTO".

Dr. Ting Lei, VP of ACFP, attended Beijing Hi-Tech Week

Invited by TORCH of the Ministry of Science and Technology, Dr. Ting Lei, VP of ACFP, attended the Bejing High-Tech Week in May 2001. He talked about the high-tech forum on capital markets and debt capital raising. Afterwards, Dr. Lei joined an overseas experts consulting delegation sponsored by the United Nation Development Program and visited high-tech development zones in Chengdu, Mianyang, Yangling and Xi'an in Western China. They met with management of the development zones and discussed issues related to development of technology and capital markets. During this trip, Dr. Lei was appointed as an expert to the TORCH and as a senior advisor to the City Government of Daqing.

Dr. Haifeng Huang, VP of ACFP China, is appointed as an Associate Professor at Sichuan Academy of Social Science

Dr. Haifeng Huang, VP of ACFP China, was recently appointed as an Associate Professor at Sichuan Academy of Social Science (SASS). This is a great honor and accomplishment for Dr. Huang. Congratulations!

Also, Dr. Huang was invited by Dr. Steiger, who is the Co-Director of EU-China Program, on June 12-15 as a keynote speaker in the Symposium “China's entry to WTO and Great Western Development? The speech title was "New Western Development during Economic Transition in China".

During June 29 to 30, Dr. Huang attended Liaoning Overseas Scholar and Students Conference and was interviewed by Shenyang TV Station.

Dr. Huang will be a keynote speaker in the section of "E-Commerce and Venture Capital", a conference to be held from August 26 to 28, in Ningbo.

Dr. Harry Huang gave lectures on modern securities market at Beijing University

Dr. Harry Huang, Executive Vice President of ACFP and Investment Strategist at Barclays Global Investors, traveled to Beijing between May 6 to May 19 to teach a two-week course on modern securities market at Beijing University (Beida).

Invited by Beida's Center for Chinese Economic Research (CCER), Dr. Huang gave six lectures to a joint class of CCER's graduate program and MBA program. The lectures covered a wide range of topics of intensive interest and importance to China's financial market, including the structure and trends of the securities market, modern risk management, modern asset management, etc. Mr. David Yu, Vice President at ACFP, who was also traveling in Beijing at the time, lectured on venture capital business to the class during one of the lectures.

The two teachers offered their many years of practical experience in western financial industry, providing insights and knowledge that cannot be found from textbooks or academic journals. Their teaching combined theories and practices, as well as development in western financial markets and the WTO challenge of China's financial industry. This unique perspective contributed to the success of the course, with 100 to 120 graduate-level students and some professors attending each three-hour session.

In addition to the course, Dr. Huang also gave an on-campus seminar on the theory and practice of institutional asset management, and a special lecture to CCER's weekend Executive MBA program.

On May 18, the National Council for Social Security Fund, a government agency newly established under the State Council, invited Dr. Huang for a three-hour seminar on pension fund investment management.

In Beijing, Dr. Huang visited senior officials from government agencies, including People's Bank of China and the Securities Regulatory Commission; met with CEOs and senior executives at state-owned and private securities firms, asset management firms, and venture capital firms; and held discussions with leading financial economists and thinkers. Following U.S. Federal Reserve's interest rate cut on May 15, Dr. Huang was interviewed by the Economist Observer (a Beijing-based newspaper); the conversation was carried by the newspaper.

Throughout various engagements, Dr. Huang promoted the missions and project plans of the ACFP, and the rich talent of its members. Many institutions expressed strong desire and interest to cooperate with ACFP on various futures projects.

ACFP held a meeting with Mr. Gao Shangquan and Dr. JingJing Xu

In San Francisco on January 18, 2001, ACFP hosted two guests: the honorable Mr.Gao Shangquan and Dr. JingJing Xu, President of American Institutional Investors Group (AIIG). Mr. Gao currently serves as both the President of China Research Society for Restructuring the Economic Systems and the Chairman of Chinese Reform Foundation.

During the three-hour meeting, ACPF members, Mr. Gao, and Dr. Xu discussed a wide range of topics related to Chinese financial systems, banking reforms, monetary and fiscal policies, venture capital financing, China's pending entry to the WTO, and ACFP's unique role as the financial intermediary between U.S. and China. Mr. Gao gladly agreed to support ACFP's endeavors in an advisory capacity. AIIG and ACFP will also explore future cooperation.

Dr. Lei, VP of ACFP, attended the Overseas Experts Consultation Committee in Beijing

On December 17-18, 2000, Dr. Ting Lei, VP of ACFP, attended a two-day meeting of the Overseas Experts Consultation Committee for Beijing Municipal Government, where he met many officials from Beijing Science and Technology Council and from Office for Overseas Affairs. During the meeting and discussion with Vice Mayor Lin Wenyi, he proposed that Beijing government use structured loans/securities as a new way to raise capital for high-tech companies.

He also visited Shangdi, Zhongguangcun and Wanjing New Technology Parks, and met several CEOs of software companies such as Whaty, which develops platforms for long distance education, and Chincom, which develops banking software. Dr. Lei discussed potential cooperation between ACFP and these software companies. In addition, he held discussions on banking risk management, new product development and training with officials from Beijing Commercial Bank and Beijing Industrial Bank.

After the meeting in Beijing, he joined ACFP President, Dr. William Ren, in attending the 3rd Convention for Overseas Chinese Scholars in Guangzhou.

Dr. Ren, President of ACFP, Visited Five Cities in China

To promote the Association of Chinese Finance Professionals, Dr. William Ren, President of ACFP, visited the following five cities from December 21, 2000 to January 3, 2001, Guang Zhou, Qiong Shan / Hai Kou, Ning Bo, Hang Zhou, and Shanghai.

In Guang Zhou, Dr. Ren, attended the 3rd Convention for Overseas Chinese Scholars. Dr. Ren and Dr. Haifeng Huang, VP of ACFP, also met with Mr. Weiming Jiang, Vice President, and Mr. Bing Du, General Manager of Min An Securities Company, and both parties agreed to explore future cooperations. Dr. Ren and Dr. Huang were also interviewed by Guang Dong Commercial Television Station.

In Qiong Shan/Hai Kou, Dr. Ren and Dr. Huang attended the first conference for overseas Chinese business professionals, organized by Qiong Shan City Government. In Qiong Shan, Dr. Ren and Dr. Huang had very productive discussions with Vice Mayor Hu De Zhi, Director Tao Qiaoping of Hainan Provincial Bureau of Foreign Experts, General Scretary Xu Da Wen of Hainan Provincial International Technology Corporations, General Manager Deng Jiang of ICBC in Yang Pu, General Manager Yang Lei of Everbright Securities Co., and other local officials. Dr. Ren and Dr. Huang were also interviewed by Hainan Daily.

In Ningbo, Dr. Ren met with Vice Mayor Lu Guo Rong, Vice Secretary Shi Jin Guo, Mr. Guoqing Xu, Director of Ningbo Overseas Chinese Scholars Pioneering Park, and Mr. Gang Chen, Deputy Director of Administrative Committee of Ningbo Hi-Tech Park. He also visited Ningbo Free Trade Zone, the largest free trade zone in China.

In Hang Zhou, Dr. Ren met with Secretary Wang, Vice Mayor Jing, Sheng Shan, Vice Director John Zhang of Economic and Trade Bureau of Hangzhou Economic and Technological Development Zone, and other local officials. He also met with Mr. Hua-Qiang Guo, Chairman/CEO/President of HangZhou Sunyard System Engineering Co., a leading financial software company.

In Shanghai, Dr. Ren met with Mr. William Han, General Manager of Shanghai Sunhoo Internet Information Service Co. He also toured the Shanghai Pu Dong District.

ACFP Hosted Beijing City Commercial Bank Delegation

In San Francisco on November 8, 2000, ACFP hosted a 12-member delegation from Beijing City Commercial Bank (BCCB) headed by Mr. Xiao Jian, BCCB's General Auditor. Other members of the delegation included key managers from branches, Credit Examination Division, Financial Reporting & Analysis, Information Systems Division, etc. BCCB is China's first non-state bank with about 120 branches located throughout Beijing municipality. As of 1/1/2000, the Bank had a deposit balance of around 55 billion yuans (US$ 6.7 billions) and total assets of over 62 billion yuans (US$ 7.6 billions).

During the eight hour meeting, ACFP introduced U.S. banks' auditing and internal controls, credit policy and portfolio management, financial reporting and analysis, small business lending, risk management and credit scoring, derivative products, on-line banking, etc. Moreover, ACPF and BCCB explored potential cooperation and joint projects.

ACFP Hosted a Delegation from Industrial And Commercial Bank of China

In San Francisco on May 12, 2000, ACFP hosted a 8-member delegation from Industrial and Commercial Bank of China (ICBC) headed by Mr. Ke Tang, ICBC's Manager and Sr. Economist of International Department. ICBC is the 20th largest Bank in the world with total asset of US$391 millions as of 6/30/2000.

During the one-day meeting, ACFP and the delegation discussed issues about auditing and internal controls, credit policy and portfolio management, financial reporting and analysis, small business lending, risk management and credit scoring, derivative products, and on-line banking.