(Yicai Global) Dec. 14 -- Experts discussed The Balance Between Economic Development and Financial Stability at the Lujiazui Financial Risk Management Forum 2017 in Shanghai today.
"The scale of social financing and money supply are two sides of the same coin," said Sheng Songcheng, People's Bank of China adviser, executive vice president of China Europe International Business School's Lujiazui International Finance Research Institute and former director-general of statistics and research at the central bank.
On the macroscopic level, he talked about the US tax cut plan and trends in interest and exchange rates in China after Lujiazui Financial City Human Resources Management Federation Deputy Secretary-General Zhu Liping and a representative from the Shanghai Lujiazui Financial City Development Bureau gave opening statements.
China's efforts on financial deleveraging have achieved preliminary success, Sheng said.
Blockchain has potential as an innovation, but the digital economy has still brought new risks to the world, said Wang Shuxun, director of Nanyang Technological University's Insurance Risk and Finance Research Center in Singapore. He also hashed out ideas on fintech and information safety.
Representatives from the Bank of Communications Co. [SHA:601328], Citibank, Surexing Tech, Shanghai University of Finance and Economics, Fudan University, China Financial Risk 50 Forum and Ernst & Young LLP took part in two roundtable discussions on expectations for financial risk management in Asia and financial risk research and education.
The Lujiazui Financial City is the only state-level finance and trade development zone in China. The annual Lujiazui Financial Risk Management Forum aims to promote the idea that "risk management not only protects value, but also creates it."
"Investors are welcome in Lujiazui," the representative from Shanghai Lujiazui Financial City Development Bureau said. Lujiazui Financial City focuses on economic issues and holds international activities to act as an interactive platform for sharing ideas and reaching consensuses, helping deepen China's economic and financial reforms.