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 APEC Finance and Development Program (AFDP) 2003 Annual Forum to be held in Shanghai 

The APEC Finance and Development Program (AFDP) 2003 Annual Forum, organized by the AFDP Secretariat and the World Bank, will be held in Shanghai on October 15, 2003.

AFDP was initially proposed by China and endorsed by the 8th APEC Finance Ministers Meeting held in Suzhou in September 2001, and subsequently by APEC Leaders in Shanghai in October 2001. The objective of this cooperative initiative is to enhance capacity building in the areas of finance and development in the APEC region through training courses, forums and research activities. With the support of all APEC economies, particularly the involvement of the World Bank as co-chair, AFDP is poised to contribute to sustainable growth and development of the APEC region. After its launching, a series of activities have been successfully conducted under the overarching three-year theme Improving Financial Intermediation for Economic Growth, Development and Stability and have been widely recognized among the APEC members.

Under the theme Establishing Stable Financial Systems: Policy and Challenge, the AFDP 2003 Annual Forum will focus on key issues related to the stability of financial systems. Topics will include: soundness and vulnerabilities of financial systems, implication of domestic and international macroeconomic environment on the financial system stability, management of the financial system vulnerabilities, model and intensity of government supervision, role of financial markets, role of central bank, etc. It is expected, therefore, that, by bringing together senior officials and renowned scholars from APEC economies and IFI’s, and representatives from the private sector in this region, the AFDP 2003 Annual Forum will generate a lively exchange of views and experiences that will contribute to policy thinking and lead to policy making on finance and development issues of interest to APEC members. This, in turn, will further contribute to the development of the APEC region.

About 100 delegates are expected to attend the Forum. Among them are senior officials from Ministries of Finance, Central Banks, and other government departments of APEC economies, officials of the World Bank, IMF, and other international financial institutions, renowned scholars in financial and economic development, and representatives from various financial companies.

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