1. ROUNDTABLE LAUNCH EVENT ON TUESDAY 17TH APRIL 2012

2. WHAT IS FLAG?
THE CONTENT OF FLAG:
» FLAG is the pan-Asian network. It exists to WHAT FLAG DOES
create and connect Asia-focused business,
FLAGintelligence:
policy and charity leaders. It abides by the a private social FLAGship:
network to help a global online
values of Community, Diversity, members find publication
Understanding, Ethics and Ambition. and share
contacts and
and the voice
of the FLAG
FLAG’s vision is to develop an knowledge community
international network of interconnected
FLAG branches
Mentoring
Events:
scheme:
Panel Series,
» FLAG was founded in October 2011 and Roundtable
matching
members with
has quickly grown to a mailing list Series and
senior figures
Showcase
membership of over 300. In Q1 2013 Series
in their field
FLAG will launch its formal membership
scheme, together with FLAGintelligence, a
private social network for members to
exchange contacts and information across
FLAG branches, FLAGship, a global online
A
publication and the voice of the FLAG Community A Club for
community, and a mentoring scheme for members members to
to interact and have fun in a
share civilised way
» FLAG is run by a Steering Committee of
nine British and Asian professionals and
entrepreneurs, and supported by an
Advisory Panel of five, including Sir David
John KCMG, former Chairman of BSI A Stage for A Source of
members to Wisdom for
Group, Balfour Beatty and Premier Oil, shine and members to
and Florian Pollner, Partner at McKinsey & perform learn
Co in Zurich and co-founder of McKinsey’s
Centre for Asian Leadership (MCAL) in THE ESSENCE OF FLAG:
Singapore WHAT FLAG IS

3. WHAT IS THE ROUNDTABLE SERIES?
FLAG MEMBERS BENEFIT FROM:
» The Roundtable Series brings together a » CUTTING-EDGE INTELLIGENCE
small group of members with shared » CULTURAL INSIGHT
experience to discuss a topic of common » HIGH-QUALITY NETWORKING
interest under the guidance of a leading
expert
» FLAG’s members benefit from the
Roundtable by receiving:
MEMBER MEMBER
(i) from the expert, cutting-edge
intelligence and deep insight into
the topic of discussion; and
(ii) from each other, a diverse range of
professional experience and
cultural perspectives. MEMBER MEMBER
The small group size and selective
attendance maximises the networking
and learning value of the Roundtable
» The Roundtable takes the form of an
opening brief by the expert, followed by MEMBER MEMBER
Q&A and opening to a discussion
between the members which is overseen
by the expert and a chair, who may one MEMBER
of FLAG’s Co-Chairs or a Director. The
discussion is followed by refreshments
during which members can continue the
discussion informally, and network with
the expert and each other

4. ROUNDTABLE FORMAT
SUMMARY
» The Roundtable took place at the London offices of Allen & Overy LLP, a leading international
law firm, between James Kynge, Editor of the Financial Time’s China Confidential*,
representatives of Allen & Overy and 20 FLAG members. including several members of the
Steering Committee. The event was chaired by Henry Tugendhat, FLAG Director
» The Roundtable began with a briefing by Mr Kynge on the informal financial sector in China, that
is, non-bank lending including private funds such as hedge funds and private equity, and
underground banks or blackmarket lending. Mr Kynge explained that the growth in this sector is
being driven by the need of Chinese SMEs to obtain finance, and their difficulty in obtaining
finance from state-backed banks which typically only back state-owned enterprises. This
imbalance between supply and demand for SME credit is symptomatic of China’s imbalanced,
investment-led economy, which is in the process of correction. Mr Kynge explained that whilst
many of these informal lenders are unregistered, but there are also increasing numbers falling
into a grey area where individual groups have approvals granted by the relevant authorities, but
their institution is still not officially recognised on a wider scale
» Mr Kynge’s briefing was followed by a 20 minute question and answer session, progressed to a
discussion between Mr Kynge and the assembled members, and ended with networking drinks
*China Confidential is an integrated research service from the Financial Times that provides premium, exclusive analysis and predictions
on China investment themes. It taps Chinese sources from the grassroots to the political elite to forecast key trends and issues

5. ATTENDEE PROFILES
EXPERT, CHAIR AND HOST PROFILES
JAMES KYNGE, EXPERT HENRY TUGENDHAT, CHAIR (FLAG DIRECTOR)
» James is the Editor of China Confidential, a » Henry is a Director of FLAG and is currently doing his
research service of the Financial Times. He is a master’s in Development Studies at the School of Oriental
and African Studies in London. He was previously working
recipient of several awards. His first book China
in Beijing as projects director of an NGO called BRICKS,
Shakes The World: A Titan's Rise and Troubled after 6 months research assistance on Chinese foreign
Future - and the Challenge for America describes policy at the EU. He has a strong interest in poverty
the development of China as a superpower - it alleviation and its role in international politics, and has
has been translated into 19 languages and won written for various UK, US and China-based publications.
the 2006 FT and Goldman Sachs Business Book He speaks fluent French, Spanish and Mandarin Chinese
of the Year Award
HUI ZHENG, HOST
» James spent over two decades as a journalist in
Asia, initially for Reuters and then as China » Hui is an Associate at Allen & Overy’s London office and
Bureau Chief for the Financial Times between Coordinator of its London China Group. He is a native
Chinese speaker and is qualified in England & Wales and
1998 and 2005. He covered many of the events
the PRC. He has a wide range experience in both Asia and
during this time - including the Japanese the UK and has contributed three chapters to Chinese
deflation, the Tianmen Square massacre, the rise Business Law (Hart Publishing & Druckerei C.H Beck 2010)
to nationhood of the five former Soviet central and the China chapter for Neate and Godfrey: Bank
union Asian republics in the early 1990s, the Confidentiality, 5th Edition (Bloomsbury Professional
Asian financial crisis of 1997, and China’s reform 2011). Hui is currently combining his career with a PhD in
International Financial & Insolvency Law at Durham
and opening since 1998
University
» James speaks fluent Mandarin and is a regular SUSANNA CHEN, HOST
commentator on Chinese and Asian issues for
» Susanna is an Associate in the Corporate Department of
media outlets including NPR, CNN and the BBC. Allen & Overy LLP, London, covering both general
He lives in Beijing and is married with three corporate, M&A and Equity Capital Markets. She is also a
children member of Allen & Overy’s China Group and is a native
Chinese speaker

6. ATTENDEE PROFILES
OTHER ATTENDEES
CLIVE BENFORD, KPMG ADVISORY SAMUEL GAO, ESCP (FLAG DIRECTOR)
» Clive is an Assistant Manager in KPMG’s Restructuring » Samuel is a Director of FLAG and is currently studying for
department. He has been involved in a range of business a master’s degree in Marketing and Creativity at ESCP
reviews, distressed sales, debt restructurings and Europe. Sam read economics at the London School of
administrations including the recent special Economics after his high school education at Malvern
administration of MF Global UK. He hopes to complete a College and Tianjin Nankai School. He is experienced in
secondment in China in 2013 and to have more strategic planning, business development and CRM. He
professional involvement with China as the Chinese banks has an unusual passion for traditional Chinese philosophy,
and businesses start to increase their outward Beijing Opera and Qin, the seven-string Chinese zeither.
investment. In the meantime he is helping to launch the Samuel speaks Mandarin and English, and is working on
Midlands’ first China-UK business forum this summer his French (not just for the food and wine)
ANKIT CHHABRA, ALLEN & OVERY (FLAG CO-CHAIR) DAVID GARIDAN, GARIDAN GLOBAL
» Ankit is Co-chair of FLAG and an Associate in the
Corporate department at Allen & Overy LLP, London. He
is a practising Solicitor of England & Wales and is also
entitled to practice in the State of New York (USA)
and in India. Ankit is currently a member of the New York NOT AVAILABLE
State Bar Association. Ankit regularly represents clients
with business interests in various Asian markets. Ankit is
fluent in English and Hindi and speaks basic Punjabi
FI DINH, BARCLAYS CORPORATE MARC GEDDES, DEXION CAPITAL
» Fi is an Analyst at Barclays Corporate in its Change » Marc works at Dexion Capital in London, broking
Management Department. She is currently working on alternative investment funds - hedge funds, fund of
Barclays' global expansion strategy and various hedge funds, infrastructure and private equity funds. He
infrastructure improvement projects. She graduated in graduated from Edinburgh University having read
Political Public Relations and worked for Bell Pottinger Economic History. He then went to Beijing University for
Group on their Nation Branding accounts before taking up one year to study Chinese (Mandarin), and continues to
her current role. Coming to the UK alone at the age of 15 do so today
from Vietnam, Fi has been fascinated by international
opportunities and how different countries foster different
business cultures

7. ATTENDEE PROFILES
OTHER ATTENDEES
NASOUL GOPAL, SMITH & WILLIAMSON BARNABY JONES, M&G CAPITAL
» Nasoul is a Manager in the Competition and Regulatory
Department at Smith & Williamson, which he joined in
2004 after 10 years working at a Big Four firm. Nasoul has
also worked on a number of audit, DD and compliance
engagements. He has experience of dealing with the NOT AVAILABLE
Chinese Ministry of Commerce (MOFCOM) on a number
of confidential matters, and has presented on
competition matters in Beijing in January 2012
ASSIM HUSSAIN, LONDON SCHOOL OF ECONOMICS ROWAN LOVEGROVE-FIELDEN, DELOITTE
» Asim is currently studying towards an MSc on China at the » Rowan is an Associate working with Deloitte’s China
London School of Economics and has previously Services Group for Investment Management and Private
completed a BA in Economics and a BSc in Biology at the Equity. She has a background in Economics and spent 2
University of Waterloo in Canada. He has also passed the years in Beijing studying Mandarin and later working at
CFA level 1 exam and the Canadian Securities Course. His the European Chamber of Commerce. While there she
past experiences include entrepreneurship where he was involved in Government Affairs, and conducted a
helped raise $142,000 in Canada, US, France, and study on investment in China by foreign firms. Rowan
Singapore for his own medical device company and hopes to return to China in the near future
investment banking where he helped a TSX listed
technology company finance a $32 million acquisition
NEIL (INOUE) NOBUHIKO, CANON EUROPE STEVEN LUK, OXFORD UNIVERSITY SAÏD BUSINESS SCHOOL
» Neil read economics at university in Japan before » Steven is a current MBA student studying at Oxford
obtained his MBA in the UK. He works for Canon and is in University’s Said Business School with a focus in Finance
charge of marketing and product planning for Canon’s and Business Development. Prior to his study, he worked
European copier business. Whilst he hasn’t worked in the for 4 years as an Investment Management Corporate
financial sector before, he is keen to understand Chinese Controller in Goldman Sachs in New York City. With family
finance more from an industry perspective, as China is heritage from Shanghai, Steven was born in Hong Kong
one of the most interesting and growing markets for but grew up in Queens, NY. He received his B.S. degree in
Canon’s copier business Management from the School of Management of
Binghamton University. Steven wishes to work in
Shanghai or Hong Kong post his MBA study

8. ATTENDEE PROFILES
OTHER ATTENDEES
EUNICE NG, EUROWEEK MANDEEP SINGH, BC PARTNERS
» Eunice is an SSA markets reporter at Euroweek, » Mandeep is an Associate in the Executive Team of BC
specializing in MTNs and CP. Previously, she read for a Partners, a large buy-out Private Equity fund, currently
Bachelors degree in Civil Law at Oxford, and before then a investing its ninth fund of just under $9bn. He works
Masters in Law and Accounting and a first class Bachelor cross-sector but originates Energy (Oil & Gas and
of Law Degree at the London School of Economics. From Renewables) transactions and his portfolio business is
Hong Kong, Eunice is particularly interested in the Foxtons. BC Partners has traditionally invested in Europe
development of finance in China and hope to one day and the United States but has recently been considering
report from that region. She is also very interested in investing in emerging markets. Before BC Partners,
financial literacy and demystifying what is an important Mandeep was a strategy consultant at OC&C, after
part of the economy to people outside of the industry graduating from Cambridge University (2003-2007)
JAMES PATTERSON-WATERSTON, BURO HAPPOLD TIANFAN WANG, LONDON BUSINESS SCHOOL
» James is a consultant on strategy, urban planning and » Tianfan is currently reading for a Masters in Management
development at Happold Consulting, currently working at London Business School, and is due to become an
on projects in China. Prior to joining Happold Consulting investment analyst at Bertelsmann Asia Investments. He
he worked both for Arup and KPMG on master planning has a strong interest in TMT venture capital investment in
and project finance projects in East Asia. He is currently a China. Before starting his professional career, Tianfan
researcher focusing on development in western China at Wang explored a number of social entrepreneurship
the University of Cambridge, where he is also affiliated to projects including micro finance volunteering in Africa
the Mongolian and Inner Asian Studies Unit and three social enterprises in China. Before his master
study, Tianfan completed internships at Bain & Company,
Roland Berger Strategy Consultants and ExxonMobil
HARRY QUEENBOROUGH, ERNST & YOUNG HIROKAZU YOSHII, MCKINSEY & CO (FLAG DIRECTOR)
» Harry is a co-founder and Director of the China-Britain » Hiro is currently interning at the Research Department
Youth Association, a non-profit network connecting young and the International Office of the Conservative Party in
professionals between Britain and China with branches in London, on secondment from McKinsey & Co in Japan. He
London, Beijing, Oxford and Shanghai. He currently read Mathematics at the University of Tokyo, and
directs a panel discussion series in partnership with the afterwards worked for McKinsey in Japan and Germany
China-Britain Business Council. Harry works as a for five years before going to Columbia University and
consultant within Ernst & Young’s global strategy team in then the LSE to take an MPA, during which time he
London and has spent one and a half years between Hong interned with the Research, Development and Evaluation
Kong, Beijing and Nanjing working with a leading private Commission (R.D.E.C.) of Taiwan, and also ran a consulting
Chinese investment bank and studying Chinese project for the Scrutiny Unit at the House of Commons

9. ATTENDEE PROFILES
OTHER ATTENDEES
CLAIRE ZHANG, STANDARD CHARTERED
» Claire is based in London and has been covering China
relations at Standard Chartered plc since 2010. Prior to
her current assignment she was based in China, working
as an Executive Assistant and Business Planning Manager
to the office of Lance Browne, Vice Chairman of Standard NOT AVAILABLE
Chartered in China

10. MEMBER FEEDBACK
POSITIVE
» Excellent venue and catering
» Interesting presentation by a knowledgeable, high-profile speaker
» Quality networking with diverse and relevant group of members
CONSTRUCTIVE
» Needs to be more discussion between members – too much Q&A with expert
» Long table setup not conducive to a “roundtable” discussion
» Difficult to network with expert afterwards – had to leave early
STEERING COMMITTEE RESPONSE
» Reduce length of speaker’s briefing and Q&A, focus on discussion time
» Arrange seating in circle/horseshoe shape to facilitate interaction
» Confirm with speaker in advance that either (i) able to stay for networking; or (ii) happy to be
introduced to members afterwards