Experts discuss financial innovation for 'high-quality development'

Leading experts and industry representatives gathered in Beijing this week to discuss enhancing financial support for private enterprises, improving services to market players, and promoting closer interaction between finance and the real economy.

During a roundtable discussion themed on "financial innovation empowering high-quality development of the private sector," which was part of the 2025 Financial Street Forum, representatives from government, enterprise and research institutes explored pathways for "patient capital," saying that the government should foster a rule-of-law environment, the market should leverage its professional expertise, and enterprises should strengthen their technological foundations. 

Their collaborative approach aims to build a technology, finance and industry cycle to boost high-quality development for private enterprises, the participants said.

Gene Ma, chief APAC representative and head of China Research at Institute of International Finance (IIF), suggested that expanding institutional openness and international exchange could attract patient capital from sovereign wealth funds and pension funds, while helping Chinese capital go abroad steadily and avoid geopolitical risks.

Ma also noted the role of technology in industrial upgrading. "Technology is reflected in all aspects, not only in emerging fields," he told CGTN. "For example, China's textile industry has introduced automation and other advanced technologies, lowering costs and improving quality. Labor-intensive textile industries elsewhere cannot compete with China's capital- and technology-intensive model."

He added that China's economy is undergoing a profound transformation, shifting from growth driven by real estate and factor accumulation to an innovation-driven model. 

"Innovation-driven growth can improve productivity, making economic growth more sustainable," he said.