China's Economic Transition: A Challenging Juncture

Jing Ulrich
Chairman and Managing Director
China Equities, JPMorgan

Financial Services Committee and China Business Committee

China's financial strength has allowed it to steer a path through the international credit crisis and domestic disasters. Oil prices, inflation, and slowing external demand now pose the biggest economic challenges for the Chinese leadership. Jing Ulrich, Chairman and Managing Director, China Equities, JPMorgan, will set out her analysis of the opportunities and challenges for the Chinese markets:

* With challenges from inflationary pressure and an external slowdown, where do the Chinese government's priorities lie, and what is the outlook for the second half of the year?

* What is the impact of China's recent fuel and electricity price hikes, and what are the prospects for curtailing runaway energy demand?

* With inflation still elevated, and declining stock prices and property values creating a negative wealth effect, are we reaching an inflection point in consumer spending?

* At a time when the prevailing mood among investors is one of caution, which sectors are likely to be resilient in the broad market downturn?

Jing Ulrich joined JPMorgan in 2005 as Managing Director and Chairman of China Equities. She is leading the expansion of JPMorgan's China equity business both within China and worldwide. Prior to joining JPMorgan, Jing was managing director of Greater China equities at Deutsche Bank. She also spent over seven years at Credit Lyonnais Securities Asia. Before joining the securities industry, Jing worked as a fund manager for Greater China in Washington DC. She was educated at Harvard University and received a master's degree from Stanford. In October 2006, Jing was named "Young Achiever of the Year" in the AmCham/SCMP "Women of Influence" award program.