Professor SHAUN SHUXUN WANG was invited to give a keynote speech at the Pengcheng Finance Lecture Ha
Date: 2020-08-21

On the afternoon of August 14, 2020, Professor SHAUN SHUXUN WANG of our department was invited to participate in the "Pengcheng Financial Lecture Hall" event sponsored by the Shenzhen Municipal Financial Regulatory Bureau, which was jointly organized by Shenzhen Financial Stability and Development Institute and China Merchants Bank Shenzhen Branch. Professor Shaun Wang delivered a speech entitled "China's finance and industrial development in changing times: growing digital finance and risk management industry". 

Chairman of the Shenzhen Financial Stability and Development Institute,former vice president of the National Council of Social Security Fund - Mr. Zhongmin Wang gave an opening address. Chief economist of Shenzhen Haiwang Group,former vice president of Bank of China - Mr Yongli Wang delivered a keynote speech.

The guests in the conference also includes: Mr. Juzheng Lin -- the deputy inspector under the Shenzhen Municipal Financial Regulatory Bureau and the vice chairman of Shenzhen Financial Stability and Development Institute; the representatives from Greater Bay Area Office of the municipal party committee, Shenzhen Banking and Insurance Regulatory Bureau, Shenzhen Branch of China Merchants Bank, relevant financial industry associations; Mr. Qi Zhang, Hongchang Tian and Kai Li from the Shenzhen Financial Stability and Development Institute.. The conference was broadcast by Panorama, Sina Finance, and Wande, and has been viewed over 150,000 times. (http://rs.p5w.net/html/123496.shtml)

 Professor SHAUN SHUXUN WANG was invited to give a keynote speech at the Pengcheng Finance Lecture Ha

As the third guest, Professor SHAUN SHUXUN WANG delivered his keynote speech. He started with the recent release of the Fortune Global 500 list. He said that a total of 124 enterprises from the Chinese mainland and Hong Kong were on the list this year, which was the first time that China mainland surpassed the United States in history (121). This is a symbol of China's economic strength. However, under the suppression of the United States, it is doubtful will there be more and more Chinese companies can enter The Fortune Globle 500 in the next 5 to 10 years.? A critical question is: what is the Key of China's transformation from a large economy to a strong economy?

 Professor SHAUN SHUXUN WANG was invited to give a keynote speech at the Pengcheng Finance Lecture Ha

Professor WANG shared his thoughts on China's economic development, financial development, and the role of universities. From the perspective of China's economic development, he believes that international trading cycles are as important as domestic trading cycles to China's economy. Relying solely on the domestic cycle will cause problems such as uneven development. In contrast to Sino-US trade, partnership is mutually beneficial. China's foreign exchange reserves gained by trade have enhanced the domestic currency issuing capacity, while American consumers have enjoyed China's high-quality and low-cost commodities. Therefore, even under the pressure of the United States, we must adhere to the opening-up policy. And according to the trading data last several years, the focus of future opening up should be ASEAN 10 + Japan + South Korea.

From the perspective of financial development, Professor WANG believes that finance represents the ability of a country's comprehensive governance. A strong financial system needs the development of several "flows": capital, information, and talented individuals. Professor WANG takes the United States, Japan, and Europe as examples. The total market value of the real estate market and the stock market are almost the same in these countries, whereas the real estate market value in China (65 trillion dollars) is much higher than that in the stock market (6 trillion dollars). This could mean the digital assets will increase to 65 trillion dollars in the future, which will arise the industry of digital mining and digital financial services. Then there is a rigid demand to design a reasonable mechanism for the guidance of the flow of money, the smooth flow of information, and the development in the flow of talents.

 Professor SHAUN SHUXUN WANG was invited to give a keynote speech at the Pengcheng Finance Lecture Ha

From the perspective of colleges and universities, Professor WANG said that China and Shenzhen have been giving tremendous support to universities, because universities are taking to lead urban development, and college students are the valuable assets. But how do we fix the gap between university research and industry development? Maybe we can learn from Silicon Valley. The innovation and Entrepreneurship of Silicon Valley are based on the needs of the market. Investors invest to encourage schools to transform research into productivity. We can learn from their experience, integrating closely with enterprises, which guide schools to do research in those fields. What's more, it is a very practical way to establish an international advanced think tank platform by combining enterprises, universities, and the government. People with different backgrounds are essential to address these issues.

After the speech, Professor WANG also hosted over the round table dialogue of "Pengcheng lecture hall". He and Mr. Binyun Zhang, deputy director of Hospital Management Research Institute of Fudan University, Mr. Junjun Jiang, deputy general manager of Tencent CSIG Lingkun Puhui big data center, and Mr. Lingqu Yu, deputy director of Institute of Finance and modern industry, China (Shenzhen) Institute of comprehensive development, discuss the impact by the new epidemic to the world. They then discussed a series of society’s major concerns, such as big health data, financing and development of small and medium-sized enterprises, and upgrading of consumer Internet to industrial Internet. Lastly, they made suggestions on how to build Shenzhen International Financial Center. The audiences gave warm applause and positive feedbacks to this informative conference at the end.

 Professor SHAUN SHUXUN WANG was invited to give a keynote speech at the Pengcheng Finance Lecture Ha

Introduction to Pengcheng Financial lecture hall: provide support to financial talents in the financial reform and development, and accelerate the construction of a national financial innovation center and a modern, international and innovative city, the implementation measures of Shenzhen Municipality for supporting the development of financial talents (SFG [2018] No. 28) clearly proposes to open "Pengcheng financial lecture hall" to improve the overall level of financial talents in Shenzhen.

PENGCHENG FINANCIAL LECTURE HALL is hosted by the Municipal Local Financial Supervision and Administration Bureau, and mainly assisted by the SHENZHEN INSTITUTE OF FINANCIAL STABILITY AND DEVELOPMENT. The financial lecture hall invites policy makers or main leaders of government regulatory agencies, chief economists or principals of financial market institutions, chief researchers or professors and associate professors of research institutions to give keynote speeches.

Based on the "three major tasks of financial work" put forward by General Secretary Xi, the government work report of Shenzhen City in 2019 and the specific work deployed by the leaders of the Municipal Financial Bureau at the overall summary meeting, the Research Institute suggests that the "Pengcheng Financial Lecture Hall" in 2020 should include five major modules: macroeconomic and investment analysis, financial services for the real economy, financial risk prevention, financial technology and innovation, financial opening and cooperation.


By Jiawei Li