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Event Detail

China Opens its Doors to Foreign Investors (Ended)

Date, Time, and Location:
Thursday, May 17, 2018 (add this event to your Outlook Calendar)
3:30 pm - 6:00 pm
The Chicago Club, 81 E. Van Buren Street, Chicago, IL   (Driving Directions)

Program Description: 
China accounts for about 15% of global GDP, but just over 3% of global equity market capitalization. The world’s second-largest economy has long kept most foreign investors out of its capital markets. But as the country’s economic model undergoes a transition from investment-led growth, to one powered by consumer spending it is simultaneously opening its doors to foreign capital. Join us for a lively discussion of the trends that will shape the future of the Chinese economy and the implications for investors—many of whom can now access mainland markets for the first time.

Learner Objectives: 

  • What have been the underpinnings of China’s rapid growth?
  • What trends will shape the future of the Chinese economy?
  • How have investors historically been able to capitalize on their views of the Chinese economy and markets?
  • What key changes have we seen with respect to how offshore investors tap into Chinese capital markets?  
  • What are some of the more promising areas for investing in the country’s future?

Opening Presenter: 
Patrick Chovanec - Managing Director and Chief Strategist, Silvercrest Asset Management  

Nick Ronalds, CFA - Founder and President, RhoFinancial, LLC

Christopher Balding - Professor of Economics at Peking University
Craig Feldman - Global Head of Index Management Research, MSCI
Sandy Li - Senior Vice President, Loop Capital Market

Members - $45 or FREE with Function Ticket
Student Members - $10
Nonmembers - $65
Chinese Finance Association of America (CFAA) - $45
(member pricing underwritten by CFA Society Chicago)

*Limited sponsorships available, contact Kim Augustyn at sponsorship@cfachicago.org

CFA Institute Qualified Activity: Eligible for 2 credit hours

Attire: Business Casual

Menu: Refreshments and Hors d'oeuvres

Registration: Online

3:30 pm - 4:00 pm: Registration & Networking
4:00 pm - 4:50 pm: Keynote
4:50 pm - 5:00 pm: Break
5:00 pm - 6:00 pm: Panel and Audience Q&A

Hosted by: Education Advisory Group

Speaker Bios: 

Christopher Balding is an associate professor of business and economics at the HSBC Business School of Peking University Graduate School in Shenzhen, China and is considered to be one of the leading experts on the Chinese economy and financial markets. He is a Bloomberg View contributor and advises governments, central banks, and investors around the world on China. He has appeared on Bloomberg, the BBC, CNBC, and Al-Jazeera providing insight the Chinese economy. Speaking regularly at universities and conferences around the world, Balding brings unrivalled data knowledge and insight to bear that stem from his eight years living in China.

A leading expert on sovereign wealth funds, his book Sovereign Wealth Funds: The New Intersection of Money and Power has been called an “excellent source”. Focusing on their evolution from one simple cash management operation to giants of global finance with trillions of USD in assets under management, his book brings new insights into their history, policy motivations, success, and failures. His research has appeared in leading international journals such as the Review of International Economics, Health Policy and Planning, the Journal of Emerging Market Finance, the International Finance Review, and the Journal of Public Economic Theory

Prior to entering academia, he worked for a private equity firm which focused on distressed asset, turn around, and special situation financing in the natural resource, water and waste water, food processing, and high technology industries. He rose to associate vice president focusing on finance, operations, and research of portfolio companies engaging in corporate restructuring and productivity improvement.  Balding received his PhD from the University of California, Irvine and has a M.A. and a B.A. from the George Washington University. He is married with two daughters and lives in Shenzhen, China.


Patrick Chovanec  is managing director and chief strategist at Silvercrest Asset Management. He also teaches part-time as an Adjunct Professor at Columbia University’s School of International and Public Affairs. Before Silvercrest he was an Associate Professor of Practice at Tsinghua University’s School of Economics and Management in Beijing, where he also served as chairman of the Public Policy Development Committee for the American Chamber of Commerce in China. Previously he worked for a series of private equity funds focused on emerging markets. Chovanec was director of Institutional Investor’s Asia Pacific Institute (Hong Kong) and its Global Fixed Income Institute (London). He also worked in Washington, DC as an aide to political strategist William Kristol and John Boehner. He served nine years as an officer in the U.S. Army Reserves. Chovanec has a BA in political economy from Princeton and an MBA from the University of Pennsylvania Wharton School, where he graduated as a Palmer Scholar.


Craig Feldman is an executive director and is the global head of Index Management Research, based out of MSCI’s New York headquarters. Prior to joining MSCI, Feldman spent eight years in the financial service industry serving as a director at Markit and S&P. Over these years, he gained significant experience in understanding investors’ increasingly complex investment processes and requirements. In particular, Feldman developed deep knowledge in the management and design of a diverse range of indexes including Equity, Fixed Income and Credit indexes. 

Feldman started his career as a trader and remained in this industry for 15 years at institutions that included Chase and Lehman Brothers where he was involved in the trading of a variety of instruments that included equities, fixed income and derivatives. He holds a B.S in finance from the State University of New York at Albany and an MBA from New York University.



Sandy Li is a senior vice president with Loop Capital. Li has broad international business and finance experience as well as extensive knowledge and proven leadership with both public and private companies. Prior to joining Loop, she served as an interim CFO at Weir Minerals, a UK public company, where she led 5 Weir Minerals businesses across North America. Li spent four years at National Material L.P. in senior executive leadership roles, leading M&A, finance and strategy. Her experience also includes 10 years of a variety of senior leadership roles in finance, strategy and international business operations with USG Corporation in the U.S. and Canada. She ran her technology company in China after college.

Li earned an MBA in finance, strategy and entrepreneurship from The University of Chicago Booth School of Business, a master’s degree in finance from Southwestern University of Finance and Economics, and a bachelor’s degree in finance from Henan University of Economics and Law in China.  She is a chartered professional accountant (CPA) and holds series 79 and 63 licenses.


Nick Ronalds, CFA, is managing director of his consulting firm Rhofinancial, where he works with clients seeking to develop their presence in Asian markets. He returned to RhoFinancial in September 2017 after nearly five years starting up and managing a new Equity Division for the Asia Securities Industry and Financial Markets Association (ASIFMA) in Hong Kong. While there he worked with ASIFMA's Equities and Post Trade Committees to address all ASIFMA initiatives involving secondary market and post-trade equity market issues throughout Asia. These focused primarily on market structure as well as regulatory issues.

Prior to RhoFinancial, Ronalds held various senior roles in the industry such as managing director of the Chicago Mercantile Exchange's (CME) Asia Division and senior vice president, Global Markets for exchange-traded derivatives at ABN AMRO Securities. In his role heading CME's Asia office he negotiated with Japan's Ministry of Finance for approval of GLOBEX, the first-ever offshore electronic trading system permitted in Japan. He began his career in the product development division of the CME and subsequently as Chicago Operations Manager of the CME Clearing House. 

Ronalds is a CFA charterholder, a certified Financial Risk Manager (FRM), and holds a Practicing Certificate (Securities) from the Hong Kong Securities and Investment Institute. He has written articles for publications including International Financing Review, CFA Magazine, Caixin, the Wall Street Journal, and Futures Magazine. He co-authored the chapter on Chinese futures markets for The Intelligent Commodity Investor (Risk Books, 2007). 

He is a member of the Academic Accreditation Advisory Committee of Hong Kong’s securities regulator and the Securities and Futures Commission (SFC).  A past chairman of CFA Society Chicago, Ronalds is a member of the Hong Kong Society of Financial Analysts and CFA Society Chicago. He has a master’s degree in international affairs from the Fletcher School of Law and Diplomacy, Tufts University and a BA from Boston University (Phi Beta Kappa).


*Special Notes Regarding Fees: 
Regular, Candidate, and Affiliate Members may apply function tickets as payment for Non-member or Student-Member. Credit card required to guarantee ALL reservations except for reservations using Function Tickets. Day-of-event registrations accepted on-site only if applicable and space available. There is a $5 surcharge for walk-ins. Visa, MasterCard, American Express, Discover and Diners Club are accepted. Cancellations accepted until 5:00 pm, May 11th.

Passport Program 
This is a "Passport Program." Members of any CFA society may attend at the CFA Society Chicago member rate.  If you are only a member of CFA Institute, you do not qualify for the society member rate.  

CFA Institute CE Qualified Activity This program qualifies for credit under the guidelines for the CFA Institute Professional Development Program

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