On the afternoon of May 7th, International Seminar for Reform of International Finance System and Construction of International Finance Center, organized by SBS, was successfully held at Holiday Inn Express Putuo. The seminar was presided over by SBS Vice President He Ying, Dr. Cheng Wanpeng and Dr. Jia Dezheng, members of Shanghai Municipal People’s Government Decision Consulting Research Base He Ying Studio, Fernando Gomez, Managing Director of National Bank of Angola (BNA), Ilda Nascimento, coordinating economist of Bank of Portugal, and trainees of SBS 2017 Lusophone Finance Training Session attended the seminar.
(The seminar)
Dr. Chen Wanpeng delivered a keynote speech on the reform of international currency system and the construction of international finance center. He pointed out that the current international currency system is still incomplete, and the world economy is facing great downward pressure. He believed that China is playing an important role in the reform of international currency system, and the reform cannot succeed without the participation and support from the Lusophone countries. Dr. Jia Dezheng also made a presentation on the reform of international financial institutions and the construction of international finance center. He took the financial institution system in New York and London as example, pointed out that a complete system of financial institutions should be a pyramid structure with balanced distribution of high, middle, and low end institutions. Managing Director Fernando Gomez of BNA introduced the development history of Angolan finance industry, reviewed the process of Angolan finance industry that evolves from exclusiveness to openness, and from monopoly to competition. Bank of Portugal Economist Ilda Nascimento introduced the development of domestic financial business in Portugal, the supervision system of EU, and the development of Chinese financial institutions in Portugal.
(President He Ying answering question)
Vice President He Ying summarized and commented on the speech of four guests. She pointed out that the international financial system, with many problems, is in need of reform. Though the financial system covers a variety of issues, it can always be included in the currency system, structure system, and supervision system. The seminar focused on the discussion in the above-mentioned points. The international financial system in rapid change is influencing the construction of international finance center. She believed that every country should push forward the construction of finance centers in its own and promote the development of finance industry. As the core of economy, finance needs to be fully and well developed for the decent development of economy.
Q&A Session was arranged after the seminar, Vice President He Ying and the professionals answered the questions that concern the most the participants. In the end, Vice President He expressed her appreciation to all participants in the seminar. She believed that the seminar is a successful communication between China and Lusophone countries, and a helpful exploration for SBS to innovate its foreign-aid training model.
