Xiaojie HUANG Participated in Tsinghua PBCSF Financiers Forum
On April 28th, with the theme of “New Era · New Opportunities”, the 5th Tsinghua PBCSF Financiers Forum was held at the PBC School of Finance. Weihe XIE, Vice President of Tsinghua University and School Board Member of Tsinghua PBCSF, Hongru LIU, Honorary Chairman of the Board of Tsinghua PBCSF, former vice governor of the People’s Bank of China and the first Chairman of the CSRC, and Benhua WEI, 1981 alumnus and Chairman of Hongru LIU Financial Educational Foundation attended the forum and delivered speeches.
On the forum, seven guest speakers including Haibin ZHU, China Chief Economist at JPMorgan Chase & Co, Zhikang DAI, Chairman of Zendai Group, Jinzhi JIANG, Chairman of Greenwoods Asset Management, Jianmin MIAO, Chairman of China Life Asset Management Company Limited, Jian ZHU, President of Western Securities, and Xiaojie HUANG, partner of Jiuding Capital Co., Ltd. delivered topic speeches consecutively on the issues “2013 Global Macro-economic Trend and Assets Allocation Strategies”, “China for the World”, “Investment Opportunities in Global Assets Allocation”, “Finance and Physical Economy”, “A Multi-level Capital Market”, “Economic Transformation, Financial Reform and Investment Opportunities” and “Macro Situation and Micro Allocation”.
On the forum, Jiuding Capital partner Xiaojie HUANG expressed in his speech that the final rate of return for one PE is determined by the society’s rate of return on average capitals and the firm’s own competitive advantages, and only such an industry development mode is sustainable. What one PE needs to do is to consistently improve the micro competitiveness of the firm. To build to last, there are two conditions: one is that the long-term rate of return is relatively high, and the other is that large amounts of funds can be raised for scale expansion even during ebb of the industry. Furthermore, factors that determine the destiny of one PE are governance structure and management team.