Reform and further opening hot forum topics
Print Edition
CHINA’S continuing reform of its financial industry and further opening-up amid a slower economic growth will be discussed at Shanghai’s Lujiazui Forum next week.
The two-day forum, to open on June 26, will be chaired by China Securities Regulatory Commission Chairman Xiao Gang and Shanghai Mayor Yang Xiong. Its theme is “Financial reforms and expanding opening-up under the new normal,” organizers said yesterday at a briefing.
“The Chinese economy is entering a stage of new normal where the growth is shifting from high speed to medium-high, and the economic structure is being upgraded, increasingly driven by innovation rather than investment,” said Zheng Yang, director of Shanghai Financial Service Office.
“The essence of overcoming difficulties in the transition is to deepen reforms and expanding opening-up.”
Amid continuing reform, Shanghai financial authorities yesterday said they will combat illegal fundraising, punish release of false information to fix the stock market, push brokerages and futures firms to expand overseas, and allow banks freedom in business areas that are yet to be regulated.
The forum is likely to unveil more details about the cross-border stock connect between Hong Kong and Shenzhen as well as capital account liberalization in Shanghai’s free trade zone, officials said.
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