7th Annual VC/PE CFO Conference in 2016, Shanghai China
7th Annual VC/PE CFO Conference Review
Seventh China Venture Capital and Private Equity CFO Conference organized by China Venture Capital Finance Organization (CVCFO), was held successfully in Shanghai on September 1st, 2016. As one of the most important and well-recognized conferences in China's VC/PE industry, it attracted near 210 guests ranging from VC/PE investors, government officials, academics and financial service providers. Mrs. Zhen Liu of Cooley delivered a keynote speech. The participants gathered together to communicate and shared good practices on seven key topics of China's VC/PE industry: 1) Legal Update ; 2) Tax Update ; 3) Exit Trend ; 4) VC/PE Funds Supervision and Self-discipline ; 5) Exchange Control of Cross Border Direct Investment ; 6) Valuation ; 7) Carried Interest.
Gunderson Welcome Remarks Zhen Liu
1. Legal Update
Speaker: Steve Franklin – Gunderson, David Wang – Gunderson, Marianne Rajic – Campbells
Discussion topics: - Current Fund Term Developments and Fundraising Trends
- Fund Management License
- Reporting and Know Your Customer Updates
- AIFMD Developments/Brexit
2. Tax Update
Speaker：Moderator: Joanne Xue – Morningside， Daphne Su – PwC， Justin Zhu – Deloitte
Discussion topics: - Income Tax on Deal Structuring, Exit, Privatization
- Carry Tax Planning
- VAT Tax Reform
- Tax compliance
3. Exit Trend
Speaker：Paul Ma – Hillhouse Capital， Jerry Ku – Gunderson， Jie Shen – PwC，
Songlin Peng – Huatai， Darius Naraghi – Merrill Lynch
Discussion topics: - Latest regulations, regulators’ attitude and case studies for M&A
- New regulations and attitude regarding shareholders’ eligibility
- Are offshore markets still an effective exit path for Chinese companies
- Settling down issues regarding the returns of offshore listed Chinese companies & De-VIE companies
- Accounting issues regarding the returns to A share market and exits
4. VC/PE Funds Supervision and Self-discipline
Speaker: Yuming Liu – Asset Management Association of China
5. Exchange Control of Cross Border Direct Investment
Speaker: Yong Yang – SAFE Bureau, SH
Discussion topics: - Exchange control reform for direct investment
- Current exchange control requirements of direct investment
- How to cope with this situation for VC/PE
6. Valuation
Speaker: Androw Zhu – New Margin, Winston Khoo – Deloitte, Lily Yang – Greenwoods，
Puyu Li – Innovation Works, Janice Lee – Sequoia
Discussion topics: - True value of the target company? Understanding the key metrics and considerations in company valuation
- Valuation methods to be chosen for different types of deals and companies
- Roundtable / Experience Sharing / Case Study
7. Carried Interest
Speaker: Dachun Zhang, Sheila Guo – Aon Hewitt, Cecilia Qiu – Angel Plus
Discussion topics: - Release of the results for VC/PE compensation system survey
- Introduction for L-T Incentive and Restraint system in order for PE/VC talents’ competition
- Typical Carry allocation program
- Mechanism for Investments following on by individuals
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