On December 18, 2020, the 2020 Oujiang Financial Forum and Series of Activities for Financial Services to the Private Sector grandly opened in Wenzhou.
On the opening day, as the highlight of this series of activities for financial services to the private sector, the 2020 Oujiang Financial Forum was solemnly held at the Wenzhou Shangri-La Hotel.
Hosted by the Wenzhou Municipal People’s Government, the forum is a rare high-profile economic forum in Wenzhou’s history. Under the theme of “New Landscape, New Tasks, a New Journey for Financial Services to Support the Development of the Private Economy”, it invited renowned financial experts, including Jiang Jianqing, Zhu Min, and Li Yang, to offer suggestions and insights on how the financial industry can better serve and support the development of the private economy.
Leading officials in attendance included Chen Weijun, Member of the Standing Committee of the Zhejiang Provincial Party Committee and Secretary of the Wenzhou Municipal Party Committee, Zhu Congjiu, Vice Governor of the Zhejiang Provincial People’s Government, Xie Dong, Director of the Shanghai Local Financial Supervision Administration (Municipal Financial Work Bureau), and Yao Gaoyuan, Deputy Secretary of the Wenzhou Municipal Party Committee and Mayor of Wenzhou.
Chen Weijun, Member of the Standing Committee of the Zhejiang Provincial Party Committee and Secretary of the Wenzhou Municipal Party Committee, and Zhu Congjiu, Vice Governor of the Zhejiang Provincial People's Government, attended the forum.
Zhu Congjiu, Vice Governor of the Zhejiang Provincial People’s Government, delivered a speech.
Xie Dong, Director of the Shanghai Local Financial Supervision Administration (Municipal Financial Work Bureau), delivered a speech.
Yao Gaoyuan, Deputy Secretary of the Wenzhou Municipal Party Committee and Mayor of Wenzhou, delivered a speech.
Leading officials from provincial and municipal authorities, as well as from Shanghai and Wenzhou, delivered speeches respectively, fully affirming the significance of the current Oujiang Financial Forum.
During the keynote speech session, three renowned experts delivered in-depth analyses of the development directions of China's finance sector and private enterprises.
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Jiang Jianqing, Dean of the China-Europe Lujiazui International Finance Research Institute, Former Chairman of the Industrial and Commercial Bank of China and Former President of the China Banking Association, stated in his speech that Wenzhou's financial reform should take serving the private economy as its starting point and ultimate goal. He pointed out that efforts should be made to further improve the financial service system for private enterprises, attach importance to their financing needs, and build a multi-level and diversified financial system suitable for the development of private enterprises. At the same time, attention should be paid to financial information management, and new technological means should be adopted to effectively address issues such as information asymmetry. |
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Zhu Min, Dean of the National Institute of Financial Research at Tsinghua University, Former Vice President of the People's Bank of China and Former Global Vice President of the International Monetary Fund, delivered a speech entitledChina’s Financial Development Toward a High-Income Stage. He put forward the following proposals: to establish and further improve a unified, comprehensive and internationalized securities market and bond market; to accelerate the development of commercial pension insurance; to speed up the transformation of financial business models toward digitalization; to promote the implementation of the central bank’s sovereign digital currency; to build digital financial infrastructure; and to attach importance to safeguarding financial security. |
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Li Yang, Chairman of the National Institution for Finance & Development, Former Vice President of the Chinese Academy of Social Sciences, and Former Member of the Monetary Policy Committee of the People's Bank of China, delivered a speech entitled Dual Circulation: China’s Strategy in the Face of a Profoundly Changing Global Landscape. He stated that the theory that exerts the most profound influence on China’s current development is the dual circulation theory. He put forward four key points for understanding this theory: First, we must continue to make good use of both domestic and international markets and resources. Second, we should accelerate the establishment of a new development pattern whereby domestic circulation is the mainstay and domestic and international circulations reinforce each other. Third, we must emphasize the openness of this new development pattern. Fourth, we should position this strategy at the level of national institutional development and build new institutions for an open economy of a higher standard. |
Following the keynote speeches, two roundtable forums were held successively, themed ‘Deepening Financial Reform to Boost the Transformation and Development of Private Enterprises’ and ‘Financial Support for the Private Economy to Participate in the Integrated Development of the Yangtze River Delta Region.’More than ten experts and scholars, including Mo Wengui, Deputy Director of the Institute of Finance at the People's Bank of China; Yao Yudong, Vice President and Chief Economist of Dacheng Fund Management Co., Ltd. and Former Director of the Institute of Finance at the People's Bank of China; Lian Ping, Chairman of the China Chief Economist Forum, Chief Economist of CITIC Trust Co., Ltd. and Former Chief Economist of Bank of Communications; Nan Cunhui, Member of the Standing Committee of the National Committee of the Chinese People's Political Consultative Conference, Vice Chairman of the All-China Federation of Industry and Commerce, and Chairman of Chint Group; and Wang Song, Vice Chairman and President of Guotai Junan Securities Co., Ltd., shared their unique insights based on their respective experience and research, which received an enthusiastic response from the audience.
A series of signing ceremonies for financial cooperation between Shanghai and Wenzhou were also held at the forum.The Wenzhou Municipal People’s Government signed cooperation agreements with institutions and companies including the Shanghai Stock Exchange, Guotai Junan Securities Co., Ltd., the Shanghai Financial Association, and CITIC Bank Hangzhou Branch. The Wenzhou Municipal Financial Work Office signed cooperation agreements with institutions and enterprises such as the Business School of Shanghai University of Finance and Economics, the China Institute of Finance at Shanghai Jiao Tong University, and Zhongye Capital.In the end, the guests in attendance jointly witnessed the official launch of the Wenzhou Comprehensive Financial Service Platform.
Splendid Opening of the Series of Activities
On the morning of December 18, the opening ceremony of the 2020 Wenzhou Series of Activities for Financial Services to the Private Sector was also held at the Wenzhou International Convention and Exhibition Center, marking the official launch of the three-day series of activities dedicated to providing financial services for private enterprises.
Guests attending the opening ceremony included Yao Gaoyuan, Deputy Secretary of the Wenzhou Municipal Party Committee and Mayor of the Wenzhou Municipal People’s Government; Yao Yudong, Vice President and Chief Economist of Dacheng Fund Management Co., Ltd. and Former Director of the Institute of Finance at the People's Bank of China; Tu Youfu, Secretary-General of the Shanghai Financial Association; and Yin Zhijun, Vice Mayor of the Wenzhou Municipal People’s Government.Vice Mayor Yin Zhijun stated that hosting the Series of Activities for Financial Services to the Private Sector in Wenzhou is not only a comprehensive review and objective summary of Wenzhou’s financial reform, but also an active attempt to identify entry points, grasp key focuses, and solidify ultimate goals for further deepening the reform through in-depth deliberation and discussion.
At the exhibition venue, staff at each financial institution's booth patiently answered questions from citizens. Industrial and Commercial Bank of China (ICBC) even brought "cutting-edge technology" to the scene. The robot "Gongxiaozhi" continuously greeted visitors at the booth. According to the staff, "Gongxiaozhi" can currently handle 90% of consulting services, making it a veritable expert in financial planning.The lectures launched during this Series of Activities for Financial Services to the Private Sector were also warmly welcomed by the audience. For example, the Agricultural Bank of China's lecture, themed "Tax Planning to Boost High-Quality Enterprise Development," was fully attended with no empty seats.
Capital matching activities were also in full swing. One highlight was the "Intelligent Investment for Dreams, Jointly Creating the Future" project roadshow, which carefully selected enterprises and projects from targeted industries in Wenzhou and surrounding areas. Participants included Wuliao Shupu (Free Bookstore), Automobile and Motorcycle Parts Window, Green and Intelligent Maintenance of Special Vehicles, Anti-Slip New Materials, Digital Intelligence Platform for the Footwear Industry, and Compound Probiotic Functional Foods, among others. The roadshow was held in an enthusiastic atmosphere. Investment experts at the event scrambled to try on the anti-slip new material shoes launched by Zhejiang Anbaole Technology Co., Ltd., standing on an inclined plane coated with edible oil to experience the anti-slip effect. The Wuliao Shupu project by Zhejiang New Reading Culture Communication Co., Ltd. also attracted strong attention from capital institutions.
Subsequent to this Series of Activities for Financial Services to Private Enterprises, other special lectures and on-site bank recruitment events will be launched.