The Shanghai Advanced Institute of Finance marked its 10th anniversary with an economic forum in Beijing that attracted a host of financial experts. The institute's master of finance program ranked No.1 in Asia and climbed into the global Top 10 last year as appraised by The Financial Times.

Nobel Laureates, policymakers and professors all gathered at the forum to discuss the future development of China's finance sector as China and U.S. trade tensions remain among the hottest issues in the economic world.

American economist Paul Romer, who won the 2018 Nobel Prize for integrating technological innovations into macroeconomic analysis, said the trade tensions will have a limited impact on both countries since trade plays a less important role nowadays in economic growth.

"I think trade is not going to provide the same amount of stimulus to growth in coming years as it provided in the past." He stressed that each country should seek new growth points. 

In terms of difficulty in resolving those issues, Romer said each country should have its own plan to keep growth adding that the U.S. should be realistic about the differences of the role of government in economic development.

Meanwhile, financial sector's some big names gave speeches at the forum touching on financial support for small and medium-sized companies in the digital era, the opening of China's financial system and the global supply chain. 

Wang Jiang, a Mizuho Financial Group professor at MIT Sloan, pointed out the risks of new technology and innovation board, adding that the prices reflect the market prospects. The forum ended up with panels that discussed the prospects of technologies such as big data and artificial intelligence in the finance sector.