The 2020 Oujiang Finance Forum & Series of Events on Financial Services for the Private Economy will be solemnly held in Wenzhou on the afternoon of December 18, 2020.

Hosted by the People’s Government of Wenzhou, the 2020 Oujiang Finance Forum & Series of Events on Financial Services for the Private Economy will feature keynote speeches by three distinguished guests, two roundtable forums, and a signing ceremony for financial cooperation agreements between Shanghai and Wenzhou. In addition, the launch ceremony of the Wenzhou Comprehensive Financial Services Platform will take place during the forum.A Financial Forum of Unprecedented High Standard.

The 2020 Oujiang Finance Forum represents a high-level financial forum rarely seen in Wenzhou’s history and serves as the centerpiece of the series of events. Under the theme “New Landscape, New Tasks, New Journey of Financial Services for the Development of the Private Economy”, the forum will be attended by leading officials from both provincial and municipal levels, who will deliver welcome remarks.

Last August, the 5th Meeting of the Zhejiang Provincial Development and Reform Commission reviewed and adopted the Implementation Plan for Deepening Wenzhou’s Financial Reform to Serve the Private Economy, marking the launch of an upgraded phase of Wenzhou’s financial reform. Centered on serving the private economy, a number of projects have achieved initial progress. This year, new loans in Wenzhou have exceeded 150 billion yuan, with private economy loans accounting for nearly half of the total.In the first half of this year, the unexpected COVID-19 outbreak put pressure on Wenzhou’s real economy. In response, Wenzhou introduced seven robust measures to ensure financing accessibility — the strongest, most service-oriented and most practical policies at the provincial level — in line with the overall goal of ensuring stability on six key fronts and security in six key areas.

To this end, the forum has invited prominent financial figures including Jiang Jianqing, Zhu Min and Li Yang, who will share insights and proposals on how Wenzhou’s private economy can better play its role under the new development paradigm featuring the dual-circulation economy, and how the financial sector can provide stronger support for the private economy in the implementation of the “six priorities” and “six areas of security” set by the central government.

Two High-Value Roundtable Forums

In addition to keynote speeches by renowned experts, the forum will host two roundtable discussions:Deepening Financial Reform to Boost the Transformation and Development of the Private Economy and Financial Support for the Private Economy in the Integrated Development of the Yangtze River Delta. Distinguished experts and industry leaders will participate in in-depth discussions, including:Nan Cunhui, Zhu Wan’gui, Yao Yudong, Ma Hong, Lian Ping, Wang Song, Hu Ruyin, Zhuo Fumin, Chen Qiwei, among others.They will exchange views on how Wenzhou’s financial industry can prioritize serving the private economy, advance institutional innovation, and support private enterprises and Wenzhou-invested capital in integrating into the Yangtze River Delta development. Special focus will be placed on cooperation with domestic and international financial institutions based in Shanghai to build a new highland for financial services to the private economy in the Yangtze River Delta across financing, equity investment, industrial funds and capital markets, so as to stimulate the vitality of Wenzhou’s private enterprises and foster a uniquely competitive industrial structure and market system under the dual-circulation development paradigm.

Full-range Integration of Shanghai-Wenzhou Financial Cooperation

During the forum, the People’s Government of Wenzhou will sign cooperation agreements with four institutions: the Shanghai Stock Exchange, Guotai Junan Securities Co., Ltd., Shanghai Financial Association, and CITIC Bank Hangzhou Branch. The Wenzhou Municipal Financial Office will also sign agreements with three organizations: the College of Business of Shanghai University of Finance and Economics, the China Institute of Finance at Shanghai Jiao Tong University, and Zhongye Capital. These collaborations cover cooperation between local governments, as well as partnerships among universities, research institutions and financial enterprises. Such all-round and multi-dimensional cooperation is of great significance for encouraging private enterprises and Wenzhou-invested capital to actively participate in the integrated development of the Yangtze River Delta, and for facilitating the connection of capital, industries, technologies and talent between Wenzhou and the Yangtze River Delta region. In particular, financial cooperation between Shanghai and Wenzhou will enable Wenzhou to deeply integrate into the Shanghai International Financial Center, undertake the extended development of Shanghai’s financial industry and the spillover of its high-end resources, build Wenzhou into a regional financial center at the southern gateway of the Yangtze River Delta, and accelerate the development of Wenzhou as a regional financial hub.