[Explanation] The impact of the new crown epidemic, coupled with the unilateralism and protectionism adopted by major economies...In recent years, the development of globalization is experiencing a countercurrent.

On October 15th, in the round table dialogue session of the first New Finance Youth Forum, experts said when looking forward to the future financial development trend that the general trend of globalization is unstoppable.

  [Concurrent] Tu Guangshao, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of the Shanghai New Finance Research Institute

  On the one hand, although globalization has encountered a counter-current, China's opening to the outside world is accelerating.

In particular, financial liberalization has been very vigorous in the past two years.

  [Explanation] Tu Guangshao, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of the Shanghai New Finance Research Institute, said in the dialogue that the construction of Shanghai's international financial center is an important part in the process of China's expansion of financial opening.

In his view, the next step for the construction of Shanghai as an international financial center is to make up for shortcomings and increase advantages.

  [Concurrent] Tu Guangshao, member of the National Committee of the Chinese People's Political Consultative Conference and chairman of the Shanghai New Finance Research Institute

  The next step in the construction of Shanghai International Financial Center has two main lines, the first to make up for shortcomings, and the second to strive for innovative advantages.

Our marketization process, the process of rule of law, the process of internationalization, especially the shortcomings, need to be further accelerated.

  [Explanation] Liu Jun, President of the Bank of Communications, said that even though de-globalization has seriously affected the efficiency of the supply chain, the role and efficiency of the global supply chain still play an irreplaceable role in the development of the world economy.

  [Concurrent] Liu Jun, President of Bank of Communications

  The indisputable fact is that globalization has brought well-being and improvement to everyone, but in the first half of globalization, wealth creation is its theme, while in the second half of globalization is wealth creation and fairer distribution. The two themes go hand in hand. .

  [Explanation] What is the opportunity?

Both Tu Guangshao and Liu Jun said that green finance and digital finance are new tracks.

  Liu Jun said that in order to achieve green finance, we must first support the green economy.

At the same time, the financial industry should also undergo digital transformation to make a qualitative change in the overall operating model.

Such development can truly realize the transformation of green finance.

  [Concurrent] Liu Jun, President of Bank of Communications

  First of all, you must make it clear that the direction you serve the real economy must be green, and your background color should be green.

Second, you are also green.

How do you achieve green yourself?

It is to make a qualitative change in your overall operating mode through digital transformation.

This change must be low-emissions, this change must be based on numbers, and this change must be based on the future, a better life for the people.

  [Explanation] Based on the new development pattern, doing a good job in the "dual cycle" is another major direction for Shanghai to build an international financial center.

In Liu Jun’s view, “Shanghai is the best place to do this kind of experiment and this kind of innovation.” Shanghai, which is rich in economy and financial resources, rich in human resources, and an open financial environment, is most likely to represent China in international finance. Occupy a place in the central pattern.

  [Concurrent] Liu Jun, President of Bank of Communications

  The construction of Shanghai International Financial Center is indispensable for the trading center and pricing center of RMB assets, as well as the further promotion of higher-quality RMB financial asset trading and the global center for risk allocation of RMB assets.

Only by accomplishing these points can the opening of Shanghai International Financial Center be truly open and high-quality open.

  Xu Mingrui, Shan Lu, Kang Yuzhan reports from Shanghai

Editor in charge: [Li Ji]

Keywords: shanghai, liu jun, tu guangshao dialogue, center, economies, crown epidemic, impact, construction, development, strength, member, step, globalization, explanation, finance