Respectable GFMA CEO Mr. Ryan and all guests,

Good morning!

We are very pleased to co-sponsor the NAFMII-GFMA Forum: Examining Global Financial Markets and Regulations together with the Global Financial Markets Association (GFMA). Today, we are honored to have invited experts from the supervisory authorities, self-regulatory organizations, financial institutions and other professional institutions at home and abroad to get together to discuss the current international financial climate and international financial regulatory dynamics as well as opportunities and challenges for Chinese financial institutions to go international. Hereby, on behalf of NAFMII, I’d like to extend our warm welcome and heartfelt acknowledgment to you all for your presence!

The global financial crisis has brought significant impact on the economies and financial markets of various countries. Currently, global economic recovery is still staggering, and financial markets remains volatile. We have seen that all countries in the world are reexamining and rethinking in depth the existing international financial system and order as well as the financial market development frameworks of their countries, and have made a series of adjustments to financial market supervision policies. The deepening of globalization is bringing countries closer and closer, and the financial crisis has made countries further realize that in face of the global crisis and challenges, no country can escape it safely and soundly, or respond to it alone. On the other hand, in the context that global economic ties are increasingly close, local problems, if not resolved properly, are most likely to become regional problems and even global problems. The adjustment of policies and frameworks of major financial markets will also bring a spillover effect and influence on the financial markets and financial institutions in other countries. The global exchange and coordination, particularly those between the major financial market countries, have seemed more urgent after the financial crisis. At the same time, we have also noticed that different financial markets have different development stages, face different development tasks and encounter different problems. The tuning of the international financial sequence after the financial crisis should seek an appropriate balance between strengthening the global coordination and considering the particularities of different markets. Such tuning and balancing process will set to deliver far-reach influences on the global financial market environment and sequence, and in turn bring fundamental impacts on the development strategy and operating modes of the global financial institutions.

As the internationalization of Chinese financial market is deepening, more and more Chinese financial institutions have started their journeys to go abroad and develop the international market, while the international financial institutions are participating in the Chinese financial market. The participation of the Chinese financial institutions in the global market helps further propel the pace of the Chinese financial market to go international, and helps the balanced development of the global financial markets. As “freshen” to the international financial markets, the Chinese financial institutions, on the whole, don’t have a solid foundation on the international financial market, and still lack of experience, but embody a huge potential. The turmoil and adjustment of the global financial markets after the financial crisis have both brought opportunities for the Chinese financial institutions to participate in the international market, and also posed challenges. On the way to march towards the international markets, the Chinese financial institutions will have the imperative necessity to explore a few questions in depth. For example, what influences the adjustments of the regulatory policies in the global financial markets will bring to the Chinese financial market and Chinese financial institutions, how to make full use of the late-mover advantage to expand the international market under the new global financial market climate, how to effectively identify risks, and how to participate in relevant businesses in the financial markets of different countries more efficiently and smoothly.

NAFMII is a new-type self-regulatory organization in the Chinese financial markets. Acting as a booster for the internationalization of the Chinese financial markets is an important objective of NAFMII, and backing NAFMII members to participate in the international market and safeguard the overseas rights and interests of members is one of the key jobs of NAFMII. In the recent years, NAFMII has continuously expanded and deepened the exchanges and cooperation with the financial market regulators, self- regulatory organizations and financial institutions in different countries, enhanced the mutual understandings among the Chinese and foreign members, provided corresponding resources and supports for NAFMII members to participate in the international market, and actively helped the members resolve the unfair treatments and other right and interest issues on the overseas markets. Through our efforts, NAFMII is committed to building a bridge and facilitating the participation of the Chinese financial institutions in the overseas markets, and the understanding of the Chinese financial market by the international institutions. We are expecting to further deepen the exchange and discussion with Chinese and foreign market participants, and contribute our strengths to promoting the exchange and cooperation between the Chinese financial market and the international financial markets."

Today, we are very excited that so many representatives and experts from the supervisory authorities, self-regulatory organizations and financial institutions at home and abroad will explore and discuss the global financial market trends and the participation of the Chinese financial institutions in the international financial markets in depth. I am hoping the Chinese and foreign financial market experts will exchange views broadly, hold discussions in depth, talk freely, express respective penetrating views and share wisdoms at today’s forum!

Thank you!