Overview

One of the Belt and Road Initiative focal points is to ensure the financeability of projects with smooth two-way cash flow. To achieve this, the financial operation between China and the Belt and Road countries should be enhanced, besides securing initial fund injection to kick start the infrastructure projects.

Much reliance has to be placed on using the appropriate financing instruments, assistance of multi-lateral institutions and capacity-building of financial entities in the countries concerned. Being a regional financial centre, Hong Kong can play an important role in making these happen.

                          DSCN7914IMG 0441

Objectives

In this workshop, the speakers will introduce the following topics:

  • Modern portfolio theories: the basics of classical investment theories;
  • Other theories used to estimate the risk and return of investment assets, whether financial or real, and to construct a portfolio of assets that offers the highest expected risk-adjusted return; and
  • The methodology of making investment decisions, which are always a trade-off between risk and return;
  • The principles of cross border financing of infrastructure works and the implications on practice.

Details of cases shared by Guest Speakers 

 

Facilitators and Guest Speakers 

Facilitators:  
Patrick Lam ws2     Chiang Yat Hung ws2

Prof. Patrick Lam

Professor, Department of 
Building and Real Estate, PolyU

Dr. Chiang Yat Hung

Adjunct Professor, Department of
Building and Real Estate, PolyU

 

Guest Speakers:      
Joseph Chan 1 final resized  2 FINAL RESIZED Thomas Leung 1 v1 Christopher Tan final

Mr. Joseph Chan 

Chairman,
Silk Road Economic
Development Research Center

王惠芳女士

Deputy Director,
Asset Finance Department,
China National Machinery
Industry Co. Ltd. (Sinomach)

Mr. Thomas Leung

Mainland China & HK
Deputy Markets Leader,
PwC 

Mr. Christopher Tan 

Partner, Corporate Finance and
Capital Projects & Infrastructure,
PwC

 


Quick Summary

Date & Time:

15 February 2019 (Fri), 6 p.m. – 9:30 p.m. and
16 February 2019 (Sat), 9 a.m. – 5:45 p.m.

Medium of Instruction:

Cantonese with training materials in English

Guest Speaker Sharing:

Cantonese / Putonghua / English

Venue:

Hotel ICON, Kowloon

Workshop Fee:

HK$800 (includes HK$400 workshop fee and HK$400 self-funded lunch and dinner fee)

Workshop Size:

A maximum of 50 participants

Click HERE to register the Belt and Road Cross-Professional Advancement Programme workshops

Learning Outcomes

Upon completion of the workshop, participants are expected to:

  • understand the overarching principles of infrastructure financing in a cross border context so as to identify related institutions and suitable financing instruments for Belt and Road situations.
  • appreciate the possible roles of Hong Kong in facilitating Belt and Road infrastructure financing.
  • be able to articulate sources of project risks including systematic market and country risks as well as unsystematic idiosyncratic project risks in the Belt and Road projects.
  • be competent in applying modern portfolio theories to make investment decisions, including the estimation of assess prices and consequently capital costs.

Facilitator and Guest Speakers

Facilitators:


Prof. Patrick Lam

Professor
Department of Building and Real Estate, PolyU
Member of the Hong Kong Institute of Surveyors
Member of the Royal Institution of Chartered Surveyors

Before joining the teaching profession, Prof. Lam practiced for 10 years in multi-disciplinary work environments in Hong Kong and Singapore, including as a consultant quantity surveyor and as a contractor / developer.

His latest research topics cover project finance, public-private partnerships, business models, startup growth, smart cities, construction specifications and buildability, etc.


Dr. Chiang Yat Hung
Adjunct Professor
Department of Building and Real Estate, PolyU
Member of the Hong Kong Institute of Surveyors
Member of the Royal Institution of Chartered Surveyors

Dr. Chiang has a rich mix of industrial and academic experience. Prior to joining PolyU, Dr. Chiang worked for the Hong Kong Government for ten years in the field of Quantity Surveying.

His current research and consultancy interests are in property investment in the portfolio context and competitiveness issues in property and construction.

Guest Speakers:

Mr. Joseph Chan
Chairman, Silk Road Economic Development Research Center

Mr. Joseph Chan Nap-kee, has over 30 years of experience in commercial and investment banking and asset management as well as more than a decade of operation and investment experience in the Belt and Road. He is a founding partner of Oriental Patron Financial Group since 1994. He is also an executive director of Oriental Patron Asia Limited and a non-executive director of Oriental Patron Securities Limited. Oriental Patron Asia Limited is the investment manager of OP Financial Limited, a company listed on the Main Board of the Stock Exchange (stock code: 1140). Mr. Chan is currently an executive director and chairman of Kaisun Holdings Limited, a company listed on the GEM of the Stock Exchange (stock code: 8203). He is currently a non-executive director of North Asia Strategic Holdings Limited, a company listed on the GEM of the Stock Exchange (stock code: 8080) and also a non-executive director of Regal International Airport Group Company Limited, a company listed on the Main Board of the Stock Exchange (stock code: 357).

On social services, Mr. Chan is the chairman of Silk Road Economic Development Research Center, chairman of Hong Kong Energy and Minerals United Associations, vice chairman of China Hong Kong Economic Trading International Association and vice president of Federation of Hong Kong Hubei Associations, chairman of Banking, Finance & Securities Committee of Hong Kong Macau and Myanmar Chamber of Commerce & Industry, honorary advisor of Xinjiang Association of Hong Kong and a member of the 12th Hubei Provincial Commission on the Chinese People’s Political Consultative Conference .

Mr. Chan holds licenses of Type 1 (dealing in securities), Type 4 (advising on securities), Type 6 (advising on corporate finance), and Type 9 (asset management) under the SFO (Cap. 571 of the Laws of Hong Kong). He received Master of Science Degree majoring in International Marketing from the University of Strathclyde, Bachelor of Science Degree in Aviation Management from Coventry University and a Diploma in China Investment and Trade from Peking University.

Mr. Thomas Leung
Mainland China & HK Deputy Markets Leader, PwC 
South China Markets Leader, PwC 

Thomas Leung is the Deputy Markets Leader and South China Markets Leader, as well as a member of the Management Board of PwC China/HK.  He is also a member of the Management Board of PricewaterhouseCoopers Zhongtian LLP. Thomas was the China North Assurance Leader of PricewaterhouseCoopers Zhong Tian LLP and led the Assurance business of PwC China in Beijing, Tianjin, Qingdao, Dalian, Shenyang and Jinan. Thomas was also the leaders of PwC China Transportation and Logistics Industry Group as well as Engineering and Construction Industry Group.

Having been with the Firm for 29 years and 19 years as a partner, Thomas has worked in Hong Kong, Winnipeg, Vancouver and Beijing. His focus in the last decade has been on serving many of the major state-owned enterprises in China on their audit, restructuring, IPO and outbound investment engagements. 

Some of his key clients include: CITIC Limited, China Post Group, China Communications Construction Company Limited, Legend Holdings Corporation, NetEase.com, Inc., Xiaomi Technology, Beijing Organising Committee for the 2022 Olympic and Paralympic Winter Games and etc.

Thomas was a vice-president of the Beijing Institute of Certified Public Accountants from 2001 to 2009.  He was also involved in organising and acting as an instructor in the SASAC state-owned enterprises leaders training programs.

Thomas graduated from Bachelor of Business Administration in Accounting and Finance, the Chinese University of Hong Kong.                            

Professional qualification:

  • Member of Association of Chartered Certified Accountants
  • Practising Member of Hong Kong Institute of Certified Public Accountants
  • Practising Member of China Institute of Certified Public Accountants                  
  • CPA, CA, Canada
  • Member of American Institute of Certified Public Accountants

Mr. Christopher Tan 
Partner, Corporate Finance and Capital Projects & Infrastructure, PwC

Christopher is PricewaterhouseCoopers partner based in Beijing leading the Northern China practices of Corporate Finance and Capital Projects & Infrastructure.  He is responsible for domestic and overseas, fund raising, asset divestiture, merger and acquisitions, as well as domestic and international greenfield and brownfield projects.  Over the last few years, Christopher has been involved in a number of Belt and Road projects from port, toll road, power plants, industrial park to manufactures in the regions including Southeast Asia, South Asia, Eastern Europe and Africa.

He had spent 7 years with PricewaterhouseCoopers Hong Kong and Beijing before he worked for HSBC Private Equity as a senior manager where he was responsible for direct investment projects in greater China, Southeast Asia and South Korea. After that, Chris joined Tom Group, a HK-listed media Group as vice general manager for 5 years.  He re-joined PwC Beijing office in June 2005.

Christopher mainly focuses in the industries of infrastructure, energy, FS, FMCG, TMT and healthcare.  His clients include a large number of MNCs, SoEs and domestic private enterprises. He was awarded the best M&A Financial Adviser by China Merger and Acquisition Association in 2013.

Ms. Wang Weifang
Deputy Director, Asset Finance Department, 
China National Machinery Industry Co. Ltd. (Sinomach)

Ms. WANG Weifang, Deputy Director of Asset Finance Department of China National Machinery Industry Co. Ltd. (SINOMACH), is a former Financial Controller of China CAMC Engineering Co., Ltd.  She has been engaged in investment, financing and foreign exchange management of international engineering business for a long time.  She is currently engaged in asset and financial management in SINOMACH, and has been involved in the investment and financing of projects such as the China-Belarus Industrial Park and Pakistan Thar Mining and Power project etc.

Case Sharing

Guest Speakers:

Mr. Joseph Chan
Chairman, Silk Road Economic Development Research Center

Mr. Joseph Chan will focus his sharing on Investing & Operating with Zero Financing Support in Belt & Road countries.

Mr. Thomas Leung
Mainland China & HK Deputy Markets Leader, PwC 
South China Markets Leader, PwC 

Mr. Christopher Tan 
Partner, Corporate Finance and Capital Projects & Infrastructure, PwC

Mr. Thomas Leung and Mr. Christopher Tan will focus their sharing on some of their PPP project delivery experience, in some of the most invested sectors in the B&R countries, including toll road, railway and power, from project preparation stage to financing close. They will share how infrastructure projects are evaluated at feasibility stage, including how financial modelling are set up taking consideration project risks to evaluate returns for informed investment decision making; the contractual arrangements used for risk control / mitigation under PPP framework to minimise project risks to an appropriate level in order to achieve financial close; as well as the various financing structure for infrastructure projects and source of financing.

Ms. Wang Weifang
Deputy Director, Asset Finance Department, 
China National Machinery Industry Co. Ltd. (Sinomach)

Ms. Wang has participated in a wide range of projects, including the China-Belarus Industrial Park and Thar Engro Coal Power Project in Pakistan. She was involved in the investment and financing of these projects and during the workshop, she will share her experience and the challenges she faced.

Ms. Wang will also share the preferential policies offered by The PRC government and financial institutions for developing energy projects in Pakistan, which helped pave a strong financial foundation. Insured by SINOSURE (China Export & Credit Insurance Corporation), over US$800 million was financed by China Development Bank, together with China Construction Bank and ICBC on this particular project.