Forum Held on “Construction of Rule of Law in Cross-Border Asset Management Ecosystem”

2022-07-04

On May 31, 2022, a forum on "The Construction of Rule of Law in Cross-border Asset Management Ecosystem" was held. The forum was co-organized by SAIF, China (Shanghai) Pilot Free Trade Zone Arbitration Institute, Lingang Special Area Innovation and Financial Service Center, Lingang Special Area Legal Service Center, and the SAIF-HIWAYS Financial Law Practice Seminar Organizing Committee.

Under the implementation of the new regulation on asset management, the forum focused on the key points of the construction of a cross-border asset management demonstration zone. It sorted out and analyzed the path of legal construction, discussed the market opportunities and challenges, provided innovative ideas to enhance global resource allocation capability and financial openness for the Lingang Special Area, and promoted a new round of reform and opening up of China's financial industry.

Wei Liu (Vice President of Shanghai Lingang Economic Development [Group] Co.), Yi Ma (Vice Chairman of the Shanghai Council for the Promotion of International Trade, Deputy Director of the Shanghai International Economic and Trade Arbitration Commission), and Qigui Zhu (Special-Term Professor at SJTU, Secretary of the CPC SAIF Committee) delivered welcome speeches, respectively.

In the keynote session, Professor Chun Chang (Professor of Finance, Huifu Chair Professor at SAIF) focused on the need to proactively build an offshore RMB financial system and the importance of building an offshore RMB system in Pudong. Professor Ligang Ji (Professor of Law, Executive Director, Chinese Institute for Rule of Law in Finance at Fudan University) analyzed the functional positioning and development direction of the Lingang Special Area and proposed to build a "Financial Law Pilot Zone". Weijun Wang (Secretary General of the Shanghai International Economic and Trade Arbitration Commission [SHIAC]) mentioned that asset management business has become an important aspect of Shanghai's development as an international financial center. Jie Chen (General Manager of the International Business Department of China Construction Bank [CCB Shanghai]) shared the practical exploration of cross-border asset management of CCB Shanghai in the Lingang New Area.

During the discussion session, experts and scholars exchanged their opinions on the topics of "The Law Construction of Cross-border Asset Management Demonstration Zone Under the New Regulation on Asset Management" and "Opportunities and Challenges of the Construction of Cross-border Asset Management Demonstration Zone in Lingang Special Area". Presiding over the discussions were Suosheng Xu (Deputy Director of the Business Development Department of the Shanghai International Economic and Trade Arbitration Commission [SHIAC]) and Xin Yang (Deputy Director of Financial Service Center of the Shanghai Lingang Special Area Economic Development Co. Ltd.), respectively.