In September 13th-22nd, 2011, NAFMII Executive Vice President and Secretary-General Shi Wenchao headed a delegation to the United States and Canada to study the respective countries’ bond markets and their bond registration and issuing systems. In the meantime, the delegation also introduced the development of China's inter-bank market. During the trip, the delegation visited numerous supervisory organizations, self-regulatory organizations and financial institutions including the SEC (U.S. Securities and Exchange Commission), Standard & Poor's, Ontario Securities Commission, Investment Industry Association of Canada, and Investment Industry Regulatory Organization of Canada.

On September 15th, NAFMII and GFMA (Global Financial Market Association) jointly held the “China Securities Summit” in New York while the delegation was in the States.. NAFMII and American market players had extensive discussions over a range of topics including the development, innovation and risk control of China’s bond market, derivative market and offshore RMB market, the internationalization of China’s bond market, and the exchanges and cooperation between Chinese and American market members. Secretary-General Shi delivered a keynote speech at the opening of the summit. Both Chinese and foreign market representatives discussed issues associated with the development of China’s debt capital market. The Summit was a complete success and spoke highly by participants from US Department of The Treasury, supervisory organizations, self-regulatory organizations and financial institutions from both at home and abroad.

(Secretary-General Shi delivered keynote speech at "China Securities Summit")

During the visit, the delegation not only gained deeper insights into the bond registration and issuing system and the operation of credit rating industry in those two countries, but also learned the trends and supervisory reform in American and Canadian financial market after the financial crisis, and the experience of self-regulatory organizations in America and Canada in promoting the development of their financial markets. Meanwhile, the delegation and organizations in those two countries have mutually expressed their willingness on strengthening exchanges and cooperation.

(The delegation holds talks with Ontario Securities Commission)

((The delegation holds talks with Investment Industry Association of Canada)

Through the visit, NAFMII gained important experiences and references to further improve the issuing mechanism of non-financial enterprises debt financing instruments and to enhance the construction of market infrastructure. By means of multiples forms such as holding the Summit and bilateral meetings, NAFMII deepened the understanding and perception of China’s inter-bank market to various players in the States and Canadian financial markets, provided an effective platform of international communication for its members, and widened the exchanges and cooperation between NAFMII and relevant American and Canadian organizations.