w88 casino News Network (Contributed by the w88 casino of Finance）The morning of November 21, 2020,The second seminar co-sponsored by the China International Finance 30 Forum and the w88 casino, and co-organized by the International Finance Center of the Institute of World Economics and Politics, Chinese Academy of Social SciencesIt was grandly held in the international conference hall on the third floor of the Chengxin Building of w88 casino. More than 100 well-known experts and scholars from academia and industry, as well as teachers and students from w88 casino attended the meeting. Wu Weixing, Vice President of the w88 casino, presided over the opening ceremony.
The theme of this seminar is "Global Financial Governance: Opportunities and Challenges". The COVID-19 epidemic currently spreading around the world has intensified the changes in global financial governance brought about by the 2008 global financial crisis. On the one hand, various multilateral and regional financial arrangements and financial institutions with the IMF as the core are playing a positive role in stabilizing global finance. New developing countries represented by China are playing an increasingly important role in global financial governance. On the other hand, the pattern of a sovereign currency as a global reserve currency has not been fundamentally changed. At the same time, anti-globalization and populist trends are rampant. Under such circumstances, experts and scholars from domestic and foreign research institutions, universities, government agencies and financial institutions conducted in-depth discussions on how to meet challenges and seize opportunities to make the global financial governance structure develop in a fairer and more democratic direction, and how to make global financial governance more stable and promote the development of global finance and economy.
At the opening ceremony, President Xia Wenbin delivered a speech on behalf of the organizers of the conference. He extended a warm welcome to the guests and said that 2020 is a year of historic significance - changes unseen in a century and the realization of the great rejuvenation of the Chinese nation. In this context, it is of great significance for the China International Finance 30 Forum to hold this seminar. Guided by General Secretary Xi Jinping's "adhere to the global governance concept of extensive consultation, joint contribution and shared benefits", Xia Wenbin pointed out that global financial governance is an important part of global governance, and shared his insights on the current opportunities and challenges of global financial governance. He believes that the current global financial governance pattern is rooted in the traditional international political and economic system and has not fully adapted to the trends of globalization and multipolarization; the accelerated integration of international capital flows, finance and technology has led to huge difficulties in financial governance collaboration across economies, and conflicts have arisen between local priority and global suboptimality in regional financial governance cooperation; the financial infrastructure on which global financial governance relies also has serious fragmentation and imbalances. Therefore, the convening of this seminar will surely promote the gradual maturity of China’s plan for global financial governance. Xia Wenbin also introduced to the guests the important role of the w88 casino in talent training as an important base for China's opening up to the outside world and international economic and w88 research, and sincerely invited experts and scholars to visit the w88 casino again for further guidance and exchanges on the occasion of the 70th anniversary of the w88 casino in 2021.
Shang Fulin, member of the Standing Committee of the 13th National Committee of the Chinese People's Political Consultative Conference, director of the Economic Committee, and former chairman of the China Banking Regulatory Commission, pointed out in his speech that we must base on the "11 financial reform measures" and deeply understand the importance of financial opening to high-quality economic development. Financial opening is an important part of opening up to the outside world. my country's current financial system has undergone earth-shaking changes compared with the beginning of opening up to the outside world. The expansion of opening up is accelerating, and the service management and internal control levels of financial institutions are strengthening. At the same time, it is necessary to conduct an in-depth analysis of the characteristics and challenges of this round of opening up. At present, the high-level opening up in the financial field has the following four characteristics: from the opening up of commodity factors to the opening up of institutions, from passive opening up to active opening up, from the introduction of individual investment to the introduction of foreign investment and the equal emphasis on foreign investment, from the opening up of the manufacturing industry to the further expansion of the opening up of the financial industry and the service industry; on the other hand, as the risk of opening up to the outside world increases now. , our pace of opening up to the outside world is also increasing, and we put forward four suggestions for expanding opening up: rely on environmental systems to unleash the huge potential of the market; a strong domestic market is the strongest attraction and the basic basis for developing the economy and resisting external risks; strengthening international cooperation and cultivating international competitiveness; and promoting the internationalization of the RMB.
Mr. Yu Yongding, member of the Chinese Academy of Social Sciences and chairman of the Academic Committee of the Shanghai Development Research Foundation, delivered a keynote speech on "Dual Circulation and China's Balance of Payments Position" via remote video. Yu Yongding elaborated on the background of the "dual circulation" strategy: first, the international market capacity is limited; second, the previous model is difficult to further improve China's position in the global value chain; third, the power of independent innovation is insufficient; fourth, cross-border and cross-temporal misallocation of resources; fifth, the geopolitical environment is deteriorating; sixth, China is the world's most populous country and has a vast domestic market. He cited relevant examples from Japan, the United States, and China with detailed data, and pointed out that as long as we can accelerate the adjustment of economic development strategies and policies under the guidance of the idea of "taking the domestic cycle as the theme, and the domestic and international dual cycles to promote each other," we can maintain confidence in a high economic growth rate for a long time even in the face of a deteriorating external environment.
After the opening ceremony and keynote speech, three special seminars started in sequence.
In the special seminar on "The Current Situation of Global Financial Governance: Characteristics and Problems", Mr. Qiao Yide, Vice President and Secretary-General of the Shanghai Development Research Foundation, elaborated on the great global financial changes and their implications and impacts; Mr. Ma Yun, Deputy Director of the Research Center of the State Administration of Foreign Exchange, gave a speech on the financial system of the United States. Mr. Wang Zhiqiang, senior manager of the Strategy and Policy Coordination Department of China Construction Bank, analyzed the challenges and opportunities brought by the new coronavirus epidemic to my country's financial opening; Mr. Gou Wenjun, director of the Anti-Money Laundering Monitoring and Analysis Center of the People's Bank of China, discussed how China can play its best role in global financial governance. Mr. Tang Yongsheng, deputy dean of the National Security College of the National Defense University and Major General, made a wonderful comment. He believed that in future development, on the one hand, we must promote innovative development of global governance, and on the other hand, we must also be prepared to deal with possible strategic surprises.
[Special Topic 1 Forum Guest Speech]
In the special seminar on "Multilateralism and Multiple Reserve Systems: Prospects and Approaches", Mr. Zhang Liqing, Director of the International Finance Research Center of the Central University of Finance and Economics, analyzed the opportunities and challenges faced by the internationalization of the RMB; Mr. Zhang Ming, Deputy Director of the Institute of Finance, Chinese Academy of Social Sciences, shared his thoughts on the new w88-offs between RMB exchange rate reform and capital account opening; Ms. Zhang Bei, Deputy Director of the Institute of Financial Research of the People's Bank of China, discussed the prospects of a multiple reserve system. expressed opinions on the internationalization of the RMB; Mr. Chen Weidong, President of the Bank of China Research Institute, discussed the trend of the US dollar and the US dollar exchange rate; Mr. Xiao Geng, Chairman of the Hong Kong Society of International Finance and Professor of Financial Practice at Peking University HSBC Business w88 casino, discussed the significance and institutional innovation potential of the Hong Kong dollar and eSDR in China's dual cycle; Mr. Zong Liang, Chief Researcher of the Bank of China and Senior Researcher of the World Financial Forum, gave a speech on the theme of "The Future of Globalization and the Reconstruction of International Economic and w88 Rules." Mr. Liu Dongmin, director of the International Finance Research Office of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, commented.
[Special Topic 2 Forum Guest Speech]
In the special seminar on "my country's Financial Opening: Significance and Risks", Mr. Gao Jian, former Vice President of the China Development Bank, gave a speech on the theme of "Financial Markets and Innovative Economy"; Mr. Jia Kang, Chief Economist of the China New Supply-side Economics Research Institute and a member of the National Committee of the Chinese People's Political Consultative Conference, analyzed the significance and risks of my country's financial opening; President of the China Development Bank Research Institute and President Mr. Liu Yong, the chief economist, shared his understanding and knowledge of financial openness under the new pattern; Mr. Qian Jun, Executive Dean of the Fanhai International w88 casino of Finance at Fudan University, delivered a keynote speech on "China's Financial (Two-Way) Opening at the Crossroads of Globalization"; Mr. Zhang Yuyan, member of the Chinese Academy of Social Sciences, Director of the Institute of World Economics and Politics, and Chairman of the National Global Strategy Think Tank, expressed his views on related issues. Ms. Gao Haihong, director of the International Finance Research Center of the Institute of World Economics and Politics, Chinese Academy of Social Sciences, and Mr. Wang Maobin, deputy dean of the w88 casino of Finance at the w88 casino, made comments.
[Special Topic Three Forum Guest Speeches]
In this China International Finance 30-person Forum (Second) seminar, every guest present gave an in-depth explanation of their thoughts on the future financial development of China and the world. We believe that the exchange of ideas and collision of opinions among the guests will help China participate in the construction of global governance order and solve global financial problems, and will help China's financial industry achieve more brilliant development.
