Recently, Global Financial Governance Forum for Training Class of Currency and Banking Management in Latin America and Caribbean States of 2019, which was organized by our school, was held successfully. Vice-president He Ying presided over the forum, and Liu Gongrun, expert from Financial Research Institute of Lujiazui, Xiao Benhua, expert from Decision-making Consultation Research Base of Shanghai Municipal Peoples Government, and Liliana Rosa Casafranca Díaz, Director of Bureau of Financial Market, Ministry of Economy and Finance of Peru, keynoted the convention as distinguished guests of forum. All the trainees of Global Financial Governance Forum for Training Class of Currency and Banking Management in Latin America and Caribbean States of 2019 participated in the forum.

Professor Xiao Benhua delivered speech under the theme of Selection of Global Financial Governance Paths. He proposed that, two core goals of global financial governance were development and stability. On the one hand, it was necessary to create a favorable environment for the global development and served the economic integration and investment integration; on the other hand, we should construct a stable financial system so as to realize steady development of global economy. He pointed out that, besides staying true to the mission, we needed to realize that there were two major challenges for us in the domain of global financial governance: reverse globalization and development of digital currency. Therefore, to solve the problems such as exchange rate and cross-border capital flows etc., it was urgent to perfect G20 mechanism and strength the cooperation of developing countries in the international financial governance system. 

The picture shows the scene of forum

Mr. Liu Gongrun emphatically introduced the dilemma of global financial governance and way-out. He believed that, in recent years, a lot of low income countries encountered financial distress, which indicated that there were defects in the international financial governance, such as low efficiency of resource allocation, negative spillover effect of monetary policy of developed countries and imperfect mechanism of financial risk prevention and so on. He said that, during the slack period of global economy, financial governance had become a subject to which all the economic entities should make concerted efforts to respond. Meanwhile, the new concept of global governance put forward by China has positive referential significance for the perfection of global financial governance and promotion of healthy development of global economy.

Mrs. Liliana Rosa Casafranca Díaz delivered keynote speech on the financial governance under the background of digital transformation and financial confluence. She emphasized necessity of building inclusive financial system under such background, and principal factors which hampers its development in the world, especially, in Latin America and Caribbean States. She stressed that, the governments of different countries should deepen cooperation, and actively regulate and strictly control risk by legislative means to play a more important role in the domain of global financial governance.

Later, the attendees had in-depth discussions on subjects such as Chinese finance and ratio of internal debt etc. He Ying, vice-president, commented on the speeches of distinguished guests of the forum one by one. She pointed out that, there were a series of problems and challenges in the domain of global financial governance. Through the forum, the attendees actively exchanged ideas and learnt from each other, and they put forward their own ideas and views on possible solutions. She believed that, the trend of globalization is unstoppable, and all the developing countries can start with inclusive financial strategy and build digital transformation to actively participate in the global financial governance.

Drafted by: Guan Rui

Photographed by: Yang Qiong

Reviewed by: Chen Wei

Edited by: Wu Guojun