(Yicai Global) Nov. 22 -- The exchange rate of Chinese yuan has been a hot topic among others at Shanghai's Global Financial Risk Management Conference.

China must keep a stable yuan exchange rate and prudently advance the opening-up of capital markets, Lian Ping, chief economist from Bank of Communications, said during his speech at the gathering held in Lujiazui yesterday.

Conference participants unveiled the Lujiazui Finance and Risk Management Industry-University-Research Cooperation and International Exchange Initiative at the event that was co-organized by the financial district and China Pacific Insurance Group.

China must maintain stable economic growth and change pessimistic market expectations, Lian said, adding that fiscal and monetary policies must play a more positive role in counter-cyclical adjustments.

Only effective risk control can facilitate financial opening-up and innovation, as well as provide sustained prosperity for Lujiazui, said Zhang Yuxiang, director of a development bureau linked to the financial district's free trade zone.

Editor: Emmi Laine