CCIEE Holds 59th Monthly Economic Talk

CCIEE Holds 59th Monthly Economic Talk

On May 21, 2014, CCIEE held the 59th Monthly Economic Talk at the Beijing Media Center, under the theme of Accelerating Financial Reform & Supporting the Development of Real Economy. Chen Wenling, Chief Economist of CCIEE, presided over the meeting.

Wang Guogang, President of the Institute of Finance and Banking, Chinese Academy of Social Sciences, Zong Liang, Vice President, Department of Strategic Development, Bank of China, and Zhou Xiaoming, President of Institute of Trust Research, China Renmin University, delivered speeches respectively.

Wang Guogang pointed out that three things are very important for accelerating China’s financial reforms, namely, lowering the cost of financing in real economy, giving corporations and residents more financial choices and bringing corporate bond back to direct financing. In other words, let finance serve real economy. Zong Liang stated that the bottom line of financial operations is the prevention of partial risks and systematic risks, which are usually triggered by the superposition and transmission of various risks. Zhou Xiaoming argued that China’s reforms on the trust industry during past decades have made great success. Currently, the trust business is in its best period of development and any concerns over systematic risks of the trust industry is totally unnecessary, because there are three firewalls that have been designed to prevent such risks.

At the end of the talk, experts took questions from the audience and media.

Researchers and representatives from corporate member companies of CCIEE, other research institutions and the media attended the meeting.