On December 25, the 2021 Shanghai International Financial Center Development Forum was held at the Shanghai West Bund International Convention Center.President of China Finance Association, Chinese PeopleBankFormer President Zhou Xiaochuan participated in the forum via video. Zhou Xiaochuan said that the construction of Shanghai as an international financial center has been fruitful along the way; looking forward to the future, the prospects are promising. He suggested that from the current domestic and international environment, it is necessary to study and promote the construction of an international board in the construction of Shanghai’s international financial center.
He believes that although the current international environment is facing many challenges, it can also be seen that in the process of promoting the “Belt and Road” initiative, many companies in many countries and regions along the route have difficulty financing through equity and debt. “We should consider starting from this aspect and allowing better companies from countries and regions along the’Belt and Road’ to raise funds in the Chinese market.”
He said that from the perspective of equity and bond markets, the construction of Shanghai International Financial Center mainly focuses on two aspects.On the one hand, it’s funding, and it’s necessary to guide domestic funding and internationalCash flowInflow and outflow; on the other hand, it is the main body of fundraising. The construction of an international financial center requires deep participation of domestic and international institutions in the Chinese market.
Building Shanghai as an international financial center, advancing the level of opening to the outside world, and accelerating internationalization, it also involvescurrencyIssues such as exchange, accounting standards, language, and regulatory standards. Zhou Xiaochuan believes that it is necessary to protect Chinese investors’ foreign investment as well as international investors’ investment in China. Therefore, improving the transparency of relevant standards, improving the level and capacity of supervision, and increasing investor protection are important elements of the construction of the international board.
(Article source: ShanghaiSecuritiesNewspaper)
Article source: Shanghai Securities News
Editor in charge: 33
Original title: Zhou Xiaochuan, President of the China Institute of Finance and Former Governor of the People’s Bank of China: It is necessary to study and promote the construction of an international board in the construction of Shanghai International Financial Center
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