Finding long-term solutions
By Zhang Fengming |
June 25, 2010, Friday
|
Print Edition
Print Edition
CHINA'S "Financial Davos" will open today in Shanghai, one day before the G20 Toronto Summit begins, but topics of discussion at both meetings are expected to focus on finding long-term and sustainable solutions to a post-crisis growth path.
The Lujiazui Forum will open in Pudong New Area and will feature several speeches by both foreign and domestic financial experts and regulators on structural adjustment and financial reform which is the theme of this year's meeting.
Among prominent personalities who will speak tomorrow at the forum, touted as a "Financial Davos," are Liu Mingkang, chairman of the China Banking Regulatory Commission, Wu Dingfu, chairman of the China Insurance Regulatory Commission and Shang Fulin, chairman of the China Securities Regulatory Commission as well as Hu Xiaolian, deputy governor of the People's Bank of China.
The forum, which has attracted more than 800 government officials, financial leaders and scholars, will also hear views of overseas regulators including those from the City of London and the United States Department of the Treasury.
Their discussions will include global financial cooperation and regulatory reform, Shanghai in 2020 and the evolving landscape of global financial centers as well as Chinese financial institutions expanding globally. The experts will also discuss alternative investments and China's commodities market.
"We aim to build the forum as the most influential financial conference in China and one of a handful of globally renowned ones," said Fang Xinghai, head of the Shanghai Financial Services Office. "The development of the financial industry can't stand alone and it should grow to boost the real economy... and to strengthen our financial industry."
In a rare move, the forum is co-hosted by the city government, the PBOC, the CBRC, the CSRC and the CIRC.
This year's forum is the third. The first Lujiazui Forum was held in May 2008 and the city government invited foreign financial experts and scholars to form an International Consultation Committee to provide advice to help the city develop into a financial center.
Since the State Council, or China's Cabinet, in April 2009 approved plans for Shanghai to be a financial and shipping hub by 2020, several breakthrough policies have been unveiled including trial programs on financial innovation launched in Shanghai first before being extended nationally.
Some topics to be discussed during the Lujiazui Forum 2010
Financial Sector Development: Facing the Challenges of Economic Recovery and Meeting the Need to Change Economic Growth Pattern
Global Financial Cooperation and Regulatory Reform
Shanghai in 2020 and the Evolving Landscape of Global Financial Centers
Chinese Financial Institutions Going Global
Maritime Finance: Seeking Breakthrough via Innovation
Financial Development and Regulatory Coordination Under New Circumstances
Growth of Small and Medium Enterprises and Financial Services
Financial Market Opening and Development of an International Board
Financial Innovation and the Development of Emerging Strategic Industries
Growth of Debt Market and Optimization of Financing Structure
The Lujiazui Forum will open in Pudong New Area and will feature several speeches by both foreign and domestic financial experts and regulators on structural adjustment and financial reform which is the theme of this year's meeting.
Among prominent personalities who will speak tomorrow at the forum, touted as a "Financial Davos," are Liu Mingkang, chairman of the China Banking Regulatory Commission, Wu Dingfu, chairman of the China Insurance Regulatory Commission and Shang Fulin, chairman of the China Securities Regulatory Commission as well as Hu Xiaolian, deputy governor of the People's Bank of China.
The forum, which has attracted more than 800 government officials, financial leaders and scholars, will also hear views of overseas regulators including those from the City of London and the United States Department of the Treasury.
Their discussions will include global financial cooperation and regulatory reform, Shanghai in 2020 and the evolving landscape of global financial centers as well as Chinese financial institutions expanding globally. The experts will also discuss alternative investments and China's commodities market.
"We aim to build the forum as the most influential financial conference in China and one of a handful of globally renowned ones," said Fang Xinghai, head of the Shanghai Financial Services Office. "The development of the financial industry can't stand alone and it should grow to boost the real economy... and to strengthen our financial industry."
In a rare move, the forum is co-hosted by the city government, the PBOC, the CBRC, the CSRC and the CIRC.
This year's forum is the third. The first Lujiazui Forum was held in May 2008 and the city government invited foreign financial experts and scholars to form an International Consultation Committee to provide advice to help the city develop into a financial center.
Since the State Council, or China's Cabinet, in April 2009 approved plans for Shanghai to be a financial and shipping hub by 2020, several breakthrough policies have been unveiled including trial programs on financial innovation launched in Shanghai first before being extended nationally.
Some topics to be discussed during the Lujiazui Forum 2010
Financial Sector Development: Facing the Challenges of Economic Recovery and Meeting the Need to Change Economic Growth Pattern
Global Financial Cooperation and Regulatory Reform
Shanghai in 2020 and the Evolving Landscape of Global Financial Centers
Chinese Financial Institutions Going Global
Maritime Finance: Seeking Breakthrough via Innovation
Financial Development and Regulatory Coordination Under New Circumstances
Growth of Small and Medium Enterprises and Financial Services
Financial Market Opening and Development of an International Board
Financial Innovation and the Development of Emerging Strategic Industries
Growth of Debt Market and Optimization of Financing Structure
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