China News Online, October 15th (Gao Zhimiao) By 2025, the energy level of Shanghai International Financial Center will be significantly improved, the role of serving the high-quality development of the national economy will be further highlighted, the position of RMB financial asset allocation and risk management center will be further consolidated, and the global resources The configuration function is significantly enhanced...
The "Fourteenth Five-Year Plan for the Construction of Shanghai International Financial Center" was recently released. In a new historical development stage, "New Finance" has become an important force in assisting the construction of Shanghai's international financial center. It has also become the first New Finance Youth Forum held in Shanghai on the 15th. Hot topic.
What are the characteristics of the "new finance"?
Cui Bingwen, vice president of Shanghai Pudong Development Bank, said that the new economy, new structure, and new finance have given Shanghai many new characteristics. Quality development.
In terms of new markets, Cui Bingwen believes that in the future, new trading element markets such as carbon emissions will gradually "bloom and bear fruit" in Shanghai.
"The development of these factor markets has not only brought a large amount of capital to Shanghai, but also a large amount of transaction demand, which has brought new opportunities to banks."
Fu Fan, President of China Pacific Insurance (Group), also stated that the "14th Five-Year Plan for the Construction of Shanghai International Financial Center" embodies the five development directions of internationalization, marketization, greening, rule of law and digitalization, and the development of "five modernizations" Guiding deconstructs the new finance well.
Foreign financial institutions are an important part of Shanghai's construction of an international financial center.
In the view of Wang Yunfeng, Vice Chairman, President and Chief Executive Officer of HSBC Bank (China) Co., Ltd., more and more foreign investors are opening new institutions in Shanghai. This is a long-term confidence in China’s economic development, and an opportunity to do business in Shanghai. The environment casts a vote of confidence, and more foreign-funded financial institutions settle in Shanghai, which will inevitably bring more advancement to the development of Shanghai's international financial center.
Wang Yunfeng believes that Shanghai should once again promote the issuance of the international board, actively promote it to become a global education center and pricing city for RMB, and give full play to the role of the Shanghai Free Trade Zone to turn Shanghai into an onshore and offshore market trading center for RMB; Set up China's first custodian bank, even a joint venture, in Shanghai to serve domestic funds going out and overseas funds entering the country.
Cui Bingwen pointed out that building an international financial center requires not only good hardware, but also a software environment.
He suggested that the construction of Shanghai's international financial center should do a good job in three aspects in terms of the rule of law.
Specifically, one is to make breakthroughs in the existing provisions restricting the functioning of financial centers; the other is that the construction of financial centers should be advocated by law without prohibition, and principled supervision should be advocated.
The third is to build a more complete service organization system in Shanghai, such as richer arbitration and law firms, and more diversified and multi-level service market players, so that Shanghai has a better soft environment and attract more foreign capital to enter Shanghai.
The key to the construction of Shanghai's international financial center lies in talents. Fu Fan emphasized: "I hope that Shanghai will be more effective in terms of talent management, talent service, talent development, and talent honor system construction, and will give more support to Shanghai International Finance. Center construction." (End)