In 2023, affected by geopolitical conflicts, international frictions and other factors, the global economic and financial market situation will remain complex.
Looking at China, with the first financial work conference for the first time to put forward "accelerating the construction of a financial power", China's financial development ushered in a new proposition.
In this context, how to promote high-quality financial development?How can finance better serve the overall situation of economic and social development?Anchoring the new goal, what challenges and opportunities will the development of the financial industry face in the future?
December 8, 2023Southern Weekly's First New Finance ConferenceHeld in Beijing. With the theme of "New Finance, New Business Forms, and New Trends", the conference brought together representatives of financial institutions, enterprises, and academia to deeply analyze the development status of China's financial industry and look forward to the prospects of financial innovation. At the conference, the Southern Weekend New Finance Research Center officially released the "China New Finance Development Trend Report (2023)" and the "Gold Benchmark - China's New Finance Competitiveness List".
Wang Wei, Vice President and Deputy Editor-in-Chief of Southern Press Media Group, Secretary of the Party Committee and Editor-in-Chief of Southern Weekly, said in his speech at the conference that driven by the Internet and information technology revolution, the territory of traditional finance has been rapidly refreshed, and the iterative evolution of the financial market has been accelerated. Southern Weekend established the New Finance Research Center, focusing on the hotspots and innovations in banking, insurance, and other industries, and is committed to building a smart service and communication platform that links regulators, enterprises, and the public, and fulfills its functions and social responsibilities.
Heavyweight guests gave a lecture on the pulse of economic and financial trendsLooking at the world, with the rise of unilateralism, protectionism and other ideological trends, the globalization process of the past 30 years has encountered strong pressure of reversal, and China's economic and financial development is also facing a test.
How should China respond to the deepening of anti-globalization?Zhu Xian, Executive Vice President and Secretary-General of the International Finance Forum (IFF) and former Vice President and Chief Ethics Officer of the World Bank, delivered a keynote speech at this year's New Finance Conference, analyzing the process and evolution prospects of globalization, as well as the situation, position and countermeasures of different economies.
He believes that in the face of the new situation, China should especially strengthen institutional opening-up, accelerate the shift to high-quality development, overcome soft budget constraints, and accelerate factor market reform. At the same time, he emphasized that the internal integration and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Yangtze River Delta region should be strengthened, so as to promote China's economy to a new level in terms of quality and scale.
Over the past 45 years of reform and opening up, China has formed the world's largest banking market, the second largest insurance, ** and bond markets, and has developed into a veritable financial power, but there is still a long way to go before it becomes a financial power.
At the conference, Zhang Chenghui, former director of the Institute of Finance of the Development Research Center, executive director of the China Society of Modern Finance, and member of the Strategic Advisory Committee of the PBC School of Finance of Tsinghua University, delivered a keynote speech. She said that if China wants to become a financial power, it first needs financial institutions to achieve three major changes: that is, pay more attention to quality and efficiency, pay attention to the supremacy of customer interests and long-term sustainable development, and comprehensively improve the level of financial technology;At the same time, it is necessary to promote the high-quality development of the financial market, especially to give full play to the function of the capital market and better serve the real economyIn addition, it is also necessary to promote the high-level institutional opening up of China's financial market.
Wealth management is one of the core businesses of the global financial industry, and it is regarded as a blue ocean in the industry under the opportunities of new finance. From this perspective, Nie Qingping, member of the Academic Committee of the International Financial Forum and former chairman of China's leading financial company, expounded on how to standardize the development of the new financial and wealth management market.
He suggested that on the one hand, it is necessary to clarify and standardize the market positioning and product positioning of wealth management, and on the other hand, it is also necessary to determine the attributes of the best management company of the wealth management subsidiaries of commercial banks. In addition, it is also necessary to strengthen the investment management capacity building of the wealth management market, as well as wealth management investor education, and promote the development of market norms.
Looking ahead to new trends Focus on the power of change and innovationAs a professional think tank under Southern Weekly, the New Finance Research Center of Southern Weekly will conduct a number of thematic studies in 2023, surveying more than 100 institutions and more than 200 entities, and is committed to mapping the real picture of the financial sector and conducting trend research.
At the conference, Li Heming, chief researcher of the New Finance Research Center of Southern Weekly, released the "Report on the Development Trend of China's New Finance (2023)". The report reviews the effectiveness of the financial industry in stabilizing the economy and promoting growth in 2023, and summarizes the relevant practices of the financial industry in the "five major articles" of science and technology finance, green finance, inclusive finance, pension finance, and digital finance.
Focusing on the high-quality development of the financial industry in 2024, the Southern Weekly New Finance Research Center put forward six recommendations in the report, including the need to attach great importance to the investigation and early intervention of systemic risks, take multiple measures to continue to promote the financial industry to promote consumption, improve the accuracy of financial support for the real economy, close institutional loopholes to restore confidence in the capital market, encourage financial institutions to increase the application of financial technology and digital transformation, and further strengthen financial consumer protection and financial investor education.
Since 2023, the macro policy combination has been making frequent efforts. From the perspective of academia and enterprises, how do you view the development status of banking, capital market, fintech and real enterprises under the countercyclical situation?What are the factors worth paying attention to in the industry?Under the fluctuation of the economic cycle, how to find the path to the future with innovation?
Combined with the above topics, the conference invited Zhang Wei, vice president of the National Institute of Financial Research of Tsinghua University, Yin Zhongli, researcher of the Capital Market Research Office of the Institute of Finance and Economics of the Chinese Academy of Social Sciences, Guo Tianyong, professor and doctoral supervisor of Finance and Economics University, Li Feng, chief architect of Du Xiaoman, and Liu Zizhong, chairman of Beijing Minas Surgical Robot Technology, to carry out a roundtable dialogue on the spot to jointly promote the power of financial change under the countercyclical situation.
Swipe to view the content of the speakers in the roundtable session.
Set a "gold benchmark".China's New Financial Competitiveness List was releasedIn order to highlight the commonality of financial benchmarks, the Southern Weekly New Finance Research Center spent nine months carefully developing the "Gold Benchmark - China's New Financial Competitiveness List", focusing on the leading institutions in the field of commercial banks, life insurance companies, public offerings** and independent third parties**, and conducting a comprehensive evaluation of a total of 78 financial institutions. In addition to the data evaluation based on the detailed index system, combined with the first evaluation factor and the independent review of the external expert panel, the overall list and the 8 major scores were finally formed.
At the conference, Zhang Wenjing, a researcher at the New Finance Research Center of Southern Weekend, gave a detailed interpretation of the list system, and introduced the eight sub-list rankings, including wealth management list, green finance list, data security list, digital finance list, credit card quality and efficiency list, life insurance efficiency improvement list, financial compliance list and public offering ** investment education quality list.
With the determination of each sub-list, the overall list of "Gold Benchmark - China's New Financial Competitiveness List" has also been officially released. The overall list covers 20 commercial banks selected for the list of systemically important banks in China, as well as 9 life insurance companies with the highest business scale, and comprehensively evaluates the competitiveness performance of China's financial industry and strong institutions.
Swipe to see a breakdown of the overall list.
Based on the results of the list, the conference also commended the "Gold Benchmark Financial Institutions of the Year", which included the top financial institutions in the overall list and sub-lists of the "Gold Benchmark - China New Financial Competitiveness List". In addition, the "Competitive Financial Product of the Year" and the "New Financial Innovation Case of the Year" were also announced on the spot, encouraging outstanding achievements with market effectiveness and innovation effect.
The wave of financial innovation is surging. Southern Weekly will continue to be professional and rational, strive to build a constant value coordinate in the unpredictable financial market, and work with all parties to explore a new route through the economic cycle.
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