Shanghai, June 26- How can the Chinese financial industry facilitate effective reforms and opening-up to ensure future growth under the new normal? As a well-known dialogue platform of international high-level in global financial field, Lujiazui Forum 2015 is held in Pudong, Shanghai, and will continue to Saturday, June 27, with “Financial Reform and Opening-up Under the New Normal” as its theme.
The international financial markets witnessed prolonged loose monetary environment, slow recovery of the global economy and continued build-up of risks in 2014. In the year 2015, will the internationalization of RMB along with Asian Infrastructure Investment Bank, the New Development Bank and the “Belt and Road” initiative make the situation better?
Taking place at the critical juncture of transition and restructuring in the financial industry, Lujiazui Forum 2015, jointly sponsored by People’s Bank of China, CBRC (China Banking Regulatory Commission), CSRC (China Securities Regulatory Commission), CIRC (China Insurance Regulatory Commission) and the Shanghai Municipal People’s Government, is co-chaired by Xiao Gang, chairman of the CBRC, and Yang Xiong, mayor of the Shanghai city.
“More innovations are needed in the mode of financial service industry to further promote the opening-up in this field. Coordination with the construction of Science Innovation Hub is also needed at the same time,” said Yang Xiong during the welcome speech and kick off this year’s forum. He also noted that the expansion of cross border use of RMB should be expanded in order to build an international financial market.
Senior leaders of governments and regulators, global financial leaders and well-known experts and scholars come to the Forum to talk about the world's major financial issues, which help to speed up the implementation of the national strategy of building up Shanghai as an international financial center, and plays a significant role in promoting global dialogue and cooperation in the world's financial aspect.
Reporter from Eastday.com was told that “Lujiazui Forum” has been held yearly since 2008 under the background of a rapid expansion of China's financial market and China's growing influence on the world's finance and economy. It is aiming at providing head of states, financial leaders and well-known experts and scholars with a platform of international high-level, to discuss the world's major financial issues. It is to promote and intensify global dialogue and cooperation in the financial area, and speed up Shanghai as a world financial center. (Eastday/Jiang Wenran)