SBS Holding the “Forum on Financial Development in Changing Situations”

       On September 6, the “Forum on Financial Development in Changing Situations” was successfully held by SBS in both online and offline forms. The forum was directed by Vice President He Ying. Distinguished guests at the event included Professor Wu Wenfeng, Deputy Dean of the Antai College of Economics & Management, Shanghai Jiaotong University; Professor Ruan Qingsong, Deputy Dean of the School of Economics & Management，Tongji University; Xia Huasheng, President Assistant of the Brazil Branch of the Bank of China and Guest Professor of Finance at Saint Paul College of Industry and Commerce; and Jose Teixeira, Vice Chairman of the Labor Union of Financial Institutions and analyst of economic and banking credit risks of Cape Verde. Also present at the forum were Professor Wu Jun at SBS; Chen Wei, Deputy Dean of the Faculty of International Education; and all the trainees of the Workshop on Currency and Banking Management for Portuguese Language Countries.

       The speech given by professor Ruan Qingsong focused on the financial risks in the post-pandemic era and the measures of preventing such risks. He introduced the background of international trade and investment under the influence of the pandemic from the perspective of supply chain, talked about the financial risks faced by emerging market economics and developed countries, and concluded that, compared to emerging market economics, developed countries were exposed to far lower financial risks. In the end, he also proposed some preventive measures and solutions.

       The theme of the speech delivered by professor Wu Wenfeng was China’s financial development in the new development pattern. Starting with the development of China’s banking industry, stock market, bond market, securities market, and insurance market, he introduced the status of financial development and the main characteristics of finance serving the real economy, and analyzed how finance can support the new development pattern.

       The theme of the speech presented by professor Xia Huasheng was exchange rate system and price benefits: empirical test of the influence of financial crises. He elaborated on the impact of the 2008-2009 financial crisis on currency price efficiency, suggesting that, compared to currencies under the managed floating exchange rate system, currencies under the free floating exchange rate system obviously aggravated failed to restore its efficiency ten years after the crisis.

       Jose Teix eira, Vice Chairman of the Labor Union of Financial Institutions, took the example of Cape Verde banks investing in national bonds for a case study, and introduced local financing structure, commercial banks, government bonds, and the liquidity risks and profitability of bank assets. He concluded that the banking industry plays a vital role in public fiscal financing, and that the holding of public debt securities by banks is a feasible low-risk internal investment strategy replacing liquidity surplus, and an option for obtaining long-term profitability.

      Vice President He Ying gave a concluding remark of the forum, saying that the speeches delivered by the four experts from microscopic and macroscopic perspectives at the online forum based on their solid theoretical foundation and rich practical experience not only clarified the post-pandemic dynamic trend of the world economy, but also offered new angles and inspirations about how to boost development with finance. The theme speeches included both international comparisons and country-based research, as well as historical analysis and practical studies, and presented the blueprints of future economic and financial development to the guests at the forum. She expressed her wish that the online and offline participants could seek new opportunities and new development in changing situations, and that the officials of the Portuguese Language Countries present at the forum would make new contributions to the further development of their homeland.

Contributor: Zhang Wen       

Photographer: Hong Xingzhi  

Reviewer: Chen Wei            

Editor in charge: Tang Xinhui