w88 casino News Network (Contributed by China Institute of Finance)On April 27, 2024, the "Financial Power" theme dialogue and the Joint Meeting of Deans of Finance Schools co-sponsored by "Financial Supervision Research", Renmin University of China, and w88 casino were held in Beijing. More than a hundred experts and scholars from regulatory, academic circles, and financial institution research departments gathered together to gather wisdom for running financial academic journals and provide suggestions and suggestions for achieving the goal of building a financial power.

At the meeting, the China w88 casino of Finance at the w88 casino released the "China Financial High-Quality Development Index" (hereinafter referred to as the "Report"). The "Report" was jointly completed by Associate Professor Shi Yining, Professor Wang Tianyi, student Tao Fenglin and China Banking and Insurance Media Expert Dr. Zhu Taihui from the China w88 casino of Finance at the w88 casino. The index is based on accelerating the development of high-quality finance and building a modern financial system with Chinese characteristics. It is based on the development laws of my country's financial market and the characteristics of institutional openness, combined with the theory of high-quality financial development, and relies on advanced machine learning technology to comprehensively and systematically capture the current status and historical development trends of high-quality development of my country's financial market.

The China Financial High-Quality Development Index is based on the "six major systems" proposed by General Secretary Xi to build a financial power, integrates opening up, and builds a "6+1" seven-dimensional indicator system, which specifically covers financial regulation, financial markets, financial institutions, financial supervision, financial products and services, financial infrastructure, and the international financial system. At the same time, combined with the characteristics of the Chinese market and based on China's national conditions, a large amount of micro data was collected and split into 27 secondary dimensional indicators and 220 underlying indicators, striving to comprehensively depict the high-quality development characteristics of China's finance; innovative methods were introduced to introduce machine learning, such as sparse principal component analysis, manifold learning algorithms ISOmap, LLE, etc., to capture the nonlinear dynamic changes of underlying indicators.

The index in the "Report" shows that my country's high-quality financial development has increased steadily from 2010 to 2022, and it can well capture the response of the entire financial system to major risk events and some extreme events. Regarding the unusually large fluctuations in the stock market in 2015, the Sino-US w88 friction in 2018, and the epidemic period in 2020, the overall index growth rate has slowed down. At the same time, the index also demonstrates the strong ability of my country's financial system to resist risks. For example, during the Sino-US w88 friction in 2018, the financial system responded quickly and related indexes rebounded quickly.

The "Report" also explored the dynamic changes of seven sub-dimensional indicators and found that financial regulation and control was the strongest sector. Financial supervision developed rapidly after the unusually large fluctuations in the stock market in 2015, and now shows a better financial situation. Secondly, financial products began to accelerate development around 2017 and became the strongest among the seven sectors in 2018. In short, the development trends of the seven-dimensional sub-indexes can effectively demonstrate the overall policy agenda and the high-quality development of the financial market under policy support.

Regarding the dynamic changes of the index, conference speaker Shi Yining, associate professor at China University of Finance and Economics, analyzed that the core of high-quality financial development is to integrate high quality with the modern system with Chinese characteristics, carry out in-depth theoretical innovation, and thus find new development points. Specifically, financial services to the real economy are not just a question of total volume, but should be about optimizing the structure and supplementing shortcomings, so that financial resources can support the development of small, medium and micro enterprises, science and technology, green energy, etc.; financial institutions must have a clear positioning, while making large financial institutions bigger and better, and deepening and finer small financial institutions, while complying with market-oriented reforms and the transformation of the digital economy.

At the level of financial management, considering the current low overall demand, Shi Yining believes that fiscal policy and monetary policy should be developed in a coordinated manner to further stimulate economic development; financial supervision must also transform from the function of supervision to the effectiveness of supervision, striving to maximize the benefits of financial supervision.

In terms of opening up to the outside world, Shi Yining said that it is necessary to gradually deepen institutional reform and opening up, and at the same time, correspondingly improve the security and risk resistance of the entire financial system, improve the coordination ability of transnational resources, and explore new transnational cooperation and development models. Finally, the development of the entire financial system must also serve the real economy and focus on improving service efficiency, thereby ensuring the high-quality development of the entire society.