Shanghai International Finance Center in 2021 CCTV News

2022-01-06

On December 25th, CCTV News reported that the 2021 Shanghai International Financial Center Development Forum was held in Shanghai on that day. With the theme of "Shanghai International Finance Center Construction in the New Development Pattern", the forum was of great significance to the promotion of "Post-2020 Shanghai International Finance Center Construction".

The forum was co-organized by SAIF, China Media Group Shanghai Bureau (CMG Shanghai), Shanghai Xuhui District People's Government, and the Shanghai Finance Association (SFA). Leaders from Shanghai Municipal People's Government, Xuhui District People's Government, and representatives from regulators, banks, and universities gathered to confer on the construction of Shanghai as an International Finance Center.

Xiaochuan Zhou (Vice Chairman of Boao Forum for Asia, President of China Society for Finance & Banking), Qing Wu (Executive Vice Mayor of Shanghai, Chairman of the SAIF Board), Qifan Huang (Former Mayor of Chongqing, Academic Advisor of the China Finance 40 Forum), Yanli Zhou (Member of CPPCC, Former Deputy Secretary of the CIRC Party Committee, Vice Chairman of the CIRC), Jianqing Jiang (Former President of the ICBC, President of the CEIBS Lujiazui Institute of International Finance), Juntao Wang (Secretary of the CIRC Shanghai Party Committee, Chairman of the CIRC Shanghai Office), and Dengyong Wang (Vice President of the CSRC Shanghai Office) delivered keynote speeches.

The topics of the speeches were: "Study the Promotion of International Board Construction", "Four Major Areas to be Focused", "Six Things to do Based on Carbon Peaking and Carbon Neutrality Goals", "A Path with Chinese characteristics for Building Shanghai as an International Reinsurance Center", "Establishing a Whole-market Asset Allocation System in Line with High International Standards", "Support the Construction of Shanghai as an International Finance Center with a Theoretical system with Chinese Characteristics", and "Build a High-quality International Group of Listed Companies".

Guangshao Tu (Member of CPPCC, Adjunct Professor at SJTU, Executive Director at SIAF), and Penghui Jin (Deputy Director, Deputy Secretary of the CPC PBC Shanghai Headquarter Committee, President of PBC Shanghai Branch) attended the forum and jointly released the 2021 International Finance Center Development Report.

Tu pointed out that though the assessment system for an international finance center had been studied by many institutions around the world, the Report had its own features. It was function-oriented, listed the main functions of the finance center, adopted a function matrix method that was clearer and more targeted, and its assessment tool had diversified indicators.

Tu said that, to promote the construction and development of Shanghai as an International Finance Center, the Report compared and assessed a number of international financial centers around the world, focusing especially on the functions. He pointed out that the construction was in a new stage, which could also be called "Shanghai International Finance Center Construction Version 3.0".

"The Report showed that under the guidance of the CPC, the Shanghai Finance Industry had made great progress in reforms, opening up, financial institution innovation, and in financial academic research with Chinese characteristics", Jin said. He also said that the Report might be translated into multiple languages to better transmit news of Shanghai financial industry development to the international community.