Registration and refreshments

Welcome remarks

Opening keynote address
Wensheng Peng, Chief Economist, CHINA INTERNATIONAL CAPITAL CORP (CICC)

International leaders' panel: Going strong - China's PE outlook for 2012
China's dynamic PE field continues to grow, recording some of its biggest figures ever in 2011 with USD11.7bn in investments for the year. Capital constraints around the globe fuelled by factors such as the Eurozone's continuing debt woes and the stalled US economy, along with the limited availability of bank funding for Chinese small and medium enterprises, have all contributed to the growth of the industry, and 2012 is forecast to be another banner year. Still, ongoing challenges, such as an imbalance between deals and exits, remain.

• Is the growth that China's PE industry has seen in the past two years sustainable in the long-term?
• Are we headed toward global recession 2.0, or are we merely witnessing a prolonged recovery?
• What are the most attractive sectors for PE investment in 2012?
• Given the strength of the local industry, what can be done to increase allocations?

Moderated by: John E. (Jack) Lange, Partner, PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP
Francis Leung, Managing Partner & Chairman, Greater China, CVC CAPITAL PARTNERS
David Haifeng Liu, Member of KKR & CEO, KKR GREATER CHINA
Henry Chen, Partner, Co-Head of Asia, PERMIRA ADVISERS LTD
Chang Sun, Managing Director, WARBURG PINCUS

Networking coffee break

The continuing evolution of China's capital markets and the significance for PE
While the growth and increasing international usage of the renminbi is often discussed and debated, the evolution and future of China's capital markets is less well understood. As the markets continue to be reformed and revised, PE leaders need to adapt their strategies to the changing environment to stay ahead of the game.

• What is the current state of development of China's capital markets and what further reforms are needed?
• What can investors with a medium-term view plan for in the coming 5-10 years?
• How can PE professionals best utilise capital markets to access growth in China?
• What impact is the coming political transition expected to have on capital markets?
• What is the future of currency controls and the resulting impact on China PE
• What effect will the 12th Five-Year Plan have on China's capital markets?
• Will the ongoing reform of China's capital markets change the exit via IPO-dominated nature of China's PE market?
  

Moderated by: Saki Georgiadis, Head of Asia, HERMES GPE LLP
Edmond Ng, Founder & Managing Partner, AXIOM ASIA PRIVATE CAPITAL
Frank Tang, Chief Executive Officer, FOUNTAINVEST PARTNERS
Vincent Huang, Partner, PANTHEON
Fred Hu, Partner, PRIMAVERA CAPITAL GROUP

Keynote address
Weijian Shan, Group Chairman & CEO, PAG

Venture capital in China
The universal labelling of China being the world's factory will soon come to an end as Mainland companies and entrepreneurs continue to move up the food chain and become the world's leading source of innovation. While technology will obviously play a big part, Chinese start-ups also seek to address other fundamental issues, such as food, restaurants and accommodation, faced by the local market. With a potential market of more than 1.3bn consumers, it is possible for Chinese start-ups to experience growth at a pace only a few Silicon Valley start-ups can dream of. China's top venture capitalists discuss their view on what the next big thing will be.

• Is the VC market too fragmented and over-invested? Will it consolidate in the medium term?
• Does the return on investment of Chinese VC have the opportunity to fully exceed that of foreign VC?
• What are China’s hottest venture sectors? Biotech? Cleantech? Web 2.0? What are their growth drivers and the key constraints?
• Where will innovation come from? Have IPR issues hindered creativity?
• How long can the US markets’ appetite for Chinese technology IPOs be sustained?
• How can you access the great domestic entrepreneurs and discover the next big internet sensation in China?

Moderated by: Joe Zhou, Founder & Managing Partner, KEYTONE VENTURES
Michael Zhu, Partner, GOBI PARTNERS
Richard Hsu, Managing Director, INTEL CAPITAL CHINA
Wei Zhou, Managing Partner, KPCB CHINA

Global aspirations: China goes abroad
Thanks to years of strong domestic performance, corporations in China are now equipped to expand outward as they search for acquisitions, non-organic growth, foreign brands that will sell well at home and the capture of foreign market share. Overseas expansion involves a litany of challenges, and Chinese firms are now partnering with PE firms to assist in their outward growth. In December for example, a division of China Development Bank signed agreements with KKR, Permia and TPG to aide investment into and out of China.

• How can PE help Chinese companies expand overseas?
• What barriers and limitations exist, and how can these be overcome?
• Can PE help Chinese firms manage commercial and political sensitivities when investing outward?
• The history of M&A is littered with value-destroying deals一how can investors back the right companies?
• Is outward investment the first step toward China building globally recognized brands?
• What are the most attractive sectors and regions for outward growth?

Moderated by: Sally Shan, Managing Director, HARBOURVEST PARTNERS (ASIA) LIMITED
André Loesekrug-Pietri, Chairman& Managing Partner, A CAPITAL
Edward Tian, Chairman, CHINA BROADBAND CAPITAL PARTNERS LP (CBC CAPITAL)
Yichen Zhang, Chief Executive Officer, CITIC CAPITAL
Jonathan Glen, Co-founder & Managing Partner, DIVERSO
Sam Robinson, Head of Global Fund Investment, SVG ADVISERS

The consumer story: Looking inward, growing outward
With more than 1.3 billion potential consumers and rapidly increasing levels of domestic consumption, China presents one of the most appealing destinations for consumer goods investments worldwide. Further, many believe that the country must transition from a manufacturing and export based economy to one with greater levels of domestic consumption to sustain its economic momentum. Still, even as domestic consumption grows, foreign brands remain among the most coveted items nationwide and China has yet to build a portfolio of globally recognized and respected brands.

• What kind of assets should private equity firms target in the consumer sector and how can they add value?
• How can PE help Chinese brands grow at home and build a reputation and sales abroad?
• Can PE help solve China Inc.'s image problem?
• What parallels and lessons can be drawn from the development and success of Japan's consumer goods industry?

Moderated by: Matt Fish, Co-Founder & Managing Partner, NEW PACIFIC CONSULTING
Yan Yang, Director, BLACKROCK PRIVATE EQUITY PARTNERS (ASIA)
Hanji Huang, Managing Director, Greater China, L CAPITAL ASIA (LVMH)
Zhen Gao, Managing Partner, MANDARIN CAPITAL PARTNERS
Xiaoyu Greg Liu, Partner, PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP

The continuing ascendance of RMB-denominated funds
RMB-denominated funds continue to gain strength in China and now account for a much larger percentage of the market than dollar funds. In the first 11 months of 2011, RMB funds accounted for 75% of all PE funds, raising USD3.1bn from 295 funds closed. International firms can now raise RMB funds as well, but to do so they are required to form a joint venture with a Chinese partner. Meanwhile, many believe that local general partners, while largely unknown outside of Asia, have an advantage in fundraising and investing.

• As China's PE market is increasingly dominated by RMB funds, what will global general partners need to do to adapt and prosper?
• What is the process for finding and building a successful joint venture relationship with a Chinese firm to launch a RMB fund?
• What appeal do dollar funds still hold and what is the level of interest from limited partners?
• What regulations and restrictions exist for RMB funds versus USD funds?

Moderated by: Lorna Xin Chen, Partner, SHEARMAN & STERLING LLP
David Lin, Head of Fund Investing, GOLDSTONE INVESTMENT CO.
John Gu, Senior M&A Tax Partner, KPMG
Henry Hu, Operation Partner, YIMEI CAPITAL MANAGEMENT

Close of conference day 1

Networking Cocktail

AVCJ Private Equity and Venture Capital China Awards Presentation

Registration and refreshments

Opening remarks

Keynote address
Xinjun Liang, Executive Director, Vice Chairman & CEO, FOSUN GROUP

Twenty-five years of Asian private equity
From a handful of pioneering funds braving the once difficult investment landscape, Asian private equity has, in the last 25 years, grown to become a highly sought after asset class. Long gone are the days where Asian general partners fought long and hard for corporate crumbs, as private equity firms have become preferred partners for corporate Asia. While relatively young, the Chinese market has seen many generations of private equity and venture capital firms come and go. A group of investors that has not only survived, but prospered shares the knowledge that can only come from experience.

• Private equity as an asset class in China: How is its role evolving?
• Evaluating the appetite of regional and international LPs for private equity investments in China
• Will private equity continue to produce superior returns and is the outlook for Asia likely to be bright for decades to come?
• Investment opportunities and strategies in a competitive environment

Moderated by: Niklas Amundsson, Partner, MVISION
Leonard M. Harlan, Chairman of the Executive Committee, CASTLE HARLAN, INC
George Raffini, Managing Partner, HEADLAND CAPITAL PARTNERS
Doug Coulter, Head of Private Equity, Asia Pacific, LGT CAPITAL PARTNERS

Case study: Finding value in China's second- and third-tier cities
Derek Sulger, Managing Partner, LUNAR CAPITAL

Networking coffee break

The future of exits in China: Is IPO dominance forever?
China remains the only market globally where IPO exits dominate the PE sector. In 2010 for example, more than 70% of all exits in China were via IPO, compared to a global average of just 10-15%. However, IPOs in China have underperformed in 2011 and exits by this method are decreasing. Many professionals are now re-evaluating their strategies by prioritising performance improvement and looking at exit options such as secondary buy-outs and strategic purchases.

• What are the reasons IPO exits continue to dominate in China?
• If equity markets continue to be volatile, will it spell an even further decrease in IPO exits?
• How appealing are trade sales and buy-outs as exit vehicles?
• What role do market regulations play in formulating exit strategies, and will this change as China unveils increased PE legislation?

Moderated by: David Xu, Partner-in-Charge of Private Equity, KPMG
Michelle W. Edwards, Partner, COVINGTON & BURLING LLP
Min Lin, Partner, NEWQUEST CAPITAL PARTNERS
Jim Tsao, Partner, UNITAS CAPITAL

LP expectations: Capturing growth and returns in China
As China’s PE industry continues to grow, evolve and mature, the expectations LPs have of their investments in the country are also changing. In this session, a group of senior and influential LPs will discuss their thoughts and strategies for securing attractive returns in China’s quick-changing markets.

• What are the most and least attractive attributes of China funds?
• How does China compare to other Asian markets in terms of length of investment?
• Do up-and-coming markets such as Indonesia now hold more promise than China?
• How concerning is the upcoming political transition? From an investor's point of view, is its significance being overblown?
• If growth in China slows this year, will demand for exposure to the market follow in lockstep? Should it?

Moderated by: Haide Lui, Vice President, HARBOURVEST PARTNERS (ASIA) LIMITED
Andress Goh, Managing Director, ALLIANZ CAPITAL PARTNERS GMBH, SINGAPORE BRANCH
Juan Delgado-Moreira, Managing Director & Head of International, HAMILTON LANE
Jacob Chiu, Managing Director, SQUADRON CAPITAL

Networking lunch

Close of conference