With the main focus on "Financial Supply-Side Reform and Opening-Up", the 2019 Tsinghua PBCSF Global Finance Forum is committed to providing a platform for dialogue and discussion on the current situation and trends of finance.

And key speakers, including Chen Yulu, vice governor of People's Bank of China, Yan Qingmin, vice chairman of Chinese Securities Regulatory Commission, shared their insights on China's financial system. 

Chen confirmed that the financial industry in China would further open up, calling for advancing all-round financial opening-up and actively developing new opening-up measures.

"Secondly, we should transform our thinking about opening-up, to a mode of Pre-Establishment National Treatment & Negative List, in other words, realize systematic opening-up. And thirdly, optimize the business environment, increase the transparency of policies," he continued.

The vice governor said that "combing further opening-up and strengthening supervision" would help the country defuse financial risks.

Meanwhile, Yan considered the development of inclusive finance as "the most pressing issue of deepening financial reforms", highlighting the importance of "increase medium and small-sized financial institutions and services in rural areas and less urbanized region".

"Last year, there are still 500 million people living in rural areas, accounting for 40 percent of the entire population. However, the cities still took the lion's share of financial, while loans to rural areas only accounted for less than 20 percent," Yan said.

Moreover, J.P. Morgan's Chief China Economist Zhu Haibin commented that some SOEs should go bankrupt, which would "free up some of the credit quota, which can lend to the more effective industries. This is the core of supply-side reform of the financial sector".

Tsinghua PBCSF Global Finance Forum is hosted by Tsinghua University, organized by Tsinghua University PBCSF (PBC School of Finance), co-organized by NIFR (National Institute of Financial Research) and THUIFR (Institute for Fintech Research), Tsinghua University. The Forum focuses on the new thinking, new trends, new practices, and new dynamics of China's financial reforms, and seeks to address pressing issues from the perspectives of "China and the World", "Reform and Policies" and "Academics and Practices".