The 2020 Oujiang Financial Forum & Series of Activities for Financial Services to the Private Economy was held in Wenzhou today.Renowned domestic economists and financial experts, together with representatives from government and business circles in Shanghai and Zhejiang, gathered by the Oujiang River.Under the theme of “New Landscape, New Tasks, New Journey”, they discussed the experience and enlightenment of Wenzhou’s comprehensive financial reform, exchanged views on financial reform and innovation, and offered suggestions on how finance can better support the high-quality development of the private economy during the 14th Five-Year Plan period.

Member of the Standing Committee of the Zhejiang Provincial Party Committee and Secretary of the Wenzhou Municipal Party Committee Chen Weijun attended the forum.

Zhu Congjiu, Vice Governor of Zhejiang Province, delivered a speech.Jiang Jianqing, President of the China-Europe Lujiazui International Finance Research Institute,Zhu Min, Dean of the National Institute of Finance at Tsinghua University,Li Yang, Chairman of the National Institution for Finance & Development,Xie Dong, Director of the Shanghai Local Financial Supervision and Administration Bureau (Municipal Financial Work Bureau),Yao Gaoyuan, Deputy Secretary of the Wenzhou Municipal Party Committee and Mayor of Wenzhou,delivered keynote speeches or addresses respectively at the forum.

Zhu Congjiu pointed out that the Oujiang Financial Forum serves as an important platform for boosting the financial integration of the Yangtze River Delta. Drawing on Zhejiang’s achievements in coordinating epidemic prevention and control with economic and social development this year, he noted that financial support has been a key factor for Zhejiang in overcoming the impact of the epidemic and pursuing high-quality development.As we strive to accelerate the establishment of a new development paradigm during the 14th Five-Year Plan period, finance needs to provide more targeted and effective support to the real economy to drive higher-quality development.

During the keynote session, distinguished guests from the financial sector, based on the opportunities and challenges in the new development stage and combined with the practice of Wenzhou’s comprehensive financial reform, delivered in-depth insights on financial reform and innovation, sci-tech finance, and the financial integration of the Yangtze River Delta.Jiang Jianqing analyzed the experience and enlightenment of Wenzhou’s comprehensive financial reform, commending the city’s achievements in taking the lead in breakthroughs and explorations. He expressed the hope that Wenzhou would continue to blaze a replicable trail for national financial reform in the new journey.Zhu Min shared the promising prospects of the rapid development of sci-tech finance against the backdrop of post-pandemic economic trends. He encouraged Wenzhou to carry forward the pioneering spirit, explore a model for the integrated development of technology and finance, and foster a new engine driven by innovation.Li Yang elaborated on the connotation of the dual-circulation development pattern and the significance of deepening financial reform. He expressed the hope that Wenzhou would firmly uphold the banner of reform and promote the transformation, development and prosperity of both the financial sector and the private economy.

At the forum, the Wenzhou Municipal People’s Government signed cooperation agreements with the Shanghai Stock Exchange, Guotai Junan Securities, Shanghai Financial Association, and China CITIC Bank Hangzhou Branch.The Wenzhou Municipal Financial Office and the Oujiangkou Industrial Cluster Zone signed separate cooperation agreements with the College of Business at Shanghai University of Finance and Economics, the China Institute of Finance at Shanghai Jiao Tong University, China Satellite Global Service Alliance, and Zhongye Capital.

“The deepening of financial cooperation between Shanghai and Wenzhou is not only an important practice in implementing the national strategy of integrated development of the Yangtze River Delta, but also a vivid manifestation of finance serving the real economy,” Xie Dong stated. She noted that Shanghai and Wenzhou have a sound traditional foundation and solid bonds of cooperation in the financial sector. Moving forward, the two sides will focus on building a strong and dynamic growth pole and a high-quality development model area in the Yangtze River Delta, join hands to promote financial support for the high-quality development of the private economy, strive to strengthen data empowerment, financial reform, and capital market services, improve the interconnection of factors and the co-construction of mechanisms, and help the private economy play a greater role in fostering a new development paradigm.

Based on Wenzhou’s experience in financial reform, Yao Gaoyuan introduced the city’s transformation from an early emergence of risks to taking the lead in breaking through and then achieving steady development. He noted that Wenzhou is currently striving to continue writing a new chapter of innovation in the new era and build itself into a pioneer city in socialist modernization.Focusing on the development of a regional financial center, Wenzhou will advance its financial reform and development to become a benchmark in finance, benefiting enterprises, sci-tech finance, and the integration of private capital. It is hoped that the financial cooperation between Shanghai and Wenzhou will be deepened and achieve sustained and steady progress, so as to explore new paths and models for regional financial cooperation.He also expressed the expectation that experts and scholars would offer valuable advice to boost the financial reform and development of Wenzhou.

To address the information asymmetry between banks and enterprises, the forum also launched the Wenzhou Comprehensive Financial Service Platform, aiming to build a new model for smoother financing services.During the panel discussion, guests exchanged views on topics including deepening financial reform to boost the high-quality development of private enterprises and financial support for the private sector to participate in the integrated development of the Yangtze River Delta.

A series of activities on financial services for the private economy will also be held in our city from December 18 to 20, 2020.