BUSINESS

Experts shed light on economy at Tsinghua PBCSF Global Finance Forum

2017-06-04 13:33 GMT+8 13km to Beijing
Editor Hu Shaocong

Speakers representing international regulators, industry and academia have gathered in Beijing for the Tsinghua PBCSF Global Finance Forum, a two-day event themed “economic globalization and financial stability.”

As China maintains measures preventing and controlling financial risks, here is what experts at the conference had had to say about the current state of affairs at home and internationally:

Chen Yulu /Tsinghua PBCSF Global Finance Forum Website‍

Chen Yulu: Central Bank to continue "neither loose nor tight" monetary policy

In order to ensure a "neutral and moderate" financial environment for China's ongoing supply-side reform, the People's Bank of China (PBOC) will continue to implement a "prudent and neutral" monetary policy, according to Chen Yulu, deputy governor of the central bank.

On the other hand, the PBOC wants to lead financial institutions to return to their original role of supporting the real economy and hopes enterprises will focus on their core business, reversing the tendency of "blindly" stepping into the financial sector, Chen said.

Zhu Min /Tsinghua PBCSF Global Finance Forum Website‍

Zhu Min: Bulk of world’s economic uncertainty comes from US, Trump

US President Donald Trump's economic policies add uncertainty to the global financial market, said Zhu Min, chairman of the National Institute of Finance Research and former deputy managing director of the IMF. 

Countries should draw extra attention to his policies, as political risks, interest risks and exchange rate risks have become the major dangers in global finance.

Wu Xiaoling/ Tsinghua PBCSF Global Finance Forum Website‍

Wu Xiaoling: China must pay more attention to financial security than ever before

As China's economic development continues, the financial market plays an increasingly vital role as a major driving force of the economy's going out. We have entered into an era which requires greater attention to financial security than ever before, Wu Xiaoling, former PBOC deputy governor and now dean of Tsinghua PBCSF, told the same forum.

Innovation in the financial market has led to more and more overlap between this industry and others, giving rise to a high financial risk. This means any financial insecurity and instability could result in a financial crisis and an economic recession, Wu said.

Tu Guangshao/ Tsinghua PBCSF Global Finance Forum Website‍

Tu Guangshao: China's Belt and Road Initiatives reflects needs of global economic market 

Tu Guangshao, general manager of the China Investment Corporation, noted that "the Belt and Road Initiative not only boosts demand for investment but also offers an important platform for cross-border investment."

On the other hand, China is looking to play a bigger role in increasing investment overseas as global economic development calls for more resource deployment, Tu said.

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