On the morning of October 18, Ministerial Forum on Financial Strategy was held successfully in SBS. He Ying, Vice-president of SBS, presides over the forum, and Shao Yu, Assistant President and Chief Economist of Orient Securities, Huang Tao, Vice President of Bank of Shanghai, Kawaluk Moses kitzger, Minister of State Affairs from Prime Minister's Office, Uganda, keynoted the forum as distinguished guests, and Qi Jieren, Member of the Party Committee and Director of China's Financial Information Center, Fu Jiandong, Associate Dean of School of Continuing Education, SBS, and all the officials of Ministerial Workshop on Financial Strategies for Developing Countries 2019 participated in the forum. Financial Network of Lujiazui made live streaming with photos and words for the entire conference in real-time.

Shao Yu delivered speech on the theme of China’s financial strategy: driving force for industrialization, urbanization and internationalization. He said that, seven major reforms, that was, reform of financial system, reform of administrative system, reform of fiscal and tax system, reform of factor price, reform of household registration system, reform of land system and reform of state-owned enterprise, respectively, were promoting the new three-in-hand of deep urbanization, consumption upgrading and RMB internationalization. He analyzed social conditions in the past 40 years, including social principal contradiction, development patterns and economic system and so on. He believed that, the industrial revolution 4.0 is developing towards intelligentization, digitization and network, and to complete transition from old driving force to new driving force, 30 years were needed if it proceeded at current speed, and at least 15 years were needed even at a greater speed.

The keynote speech of Huang Tao was financial environment and strategy of Bank of Shanghai. On the theme of China’s macro economy, general situation of Shanghai and development of Shanghai, he gave the speech. From aspects of China’s financial structure, general situation of GDP, distribution and condition of Free Trade Area of China, Core Industry, The Belt and Road Initiative and trade war between China and the US etc., he analysed the macro economy in China; from aspects of general situation of economic development, integration planning of Yangtze River Delta, construction of international finance center of Shanghai, construction of port-surrounding free trade area and center of scientific and technological innovation 2.0 etc., he introduced the situation in Shanghai; he introduced the condition and strategy of financial development of Bank of Shanghai from aspects of Bank of Shanghai, financial highlight and Special business etc.

Kawaluk Moses kitzger delivered speech on the theme of financial strategy. His speech touched upon problems such as what the financial management is; the characteristics of developing countries and their financial resources; what the financial resource was etc., and he shared his understanding with everyone. He believed that, financial strategy was a series of policies and decisions, and it was quite urgent for developing countries to formulate a sound financial strategy for the achievement of their goals, that was, a sustainable development. He called on the audience to update their concepts and consider the development of finance as an investment, instead of cost.

He Ying, vice-president, commented on the speeches of distinguished guests of the forum one by one. Then, attendees made in-depth discussion in financial strategy and so on. Finally, He Ying, vice-president, generalized the content of the forum. She pointed out that, consensus was reached in three points: The essential attributes of all strategies were quite the same, as they were results of wisdom, and they represented good ideas that could be used to solve holistic, long-term and fundamental problems. In this point, the consensus was reached. Second, the factors affecting strategies contain vision planning and external environment as well as cultural factor, and in this point, the consensus could also be reached. The consensus was also reached on the fact that the finance was the core of economy, while there was no finance if there is no well-developed economy.

Drafted by: Zhou Dejiang　

Photographed by: Qiu Zhiyuan　

Reviewed by: Chen Wei　

Edited by: Shen Weiping