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Dishui Lake Emerging Finance Conference to open in December

en.lingang.gov.cn| Updated: Nov 28, 2022 L M S

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An artist's rendering of the planned Dishui Lake Financial Bay. [Photo/chinanews.com.cn]

The 2022 Dishui Lake Emerging Finance Conference will be held next month in the Lin-gang Special Area – located in the city of Shanghai in East China – with the goal of helping to opening up China's financial sector and promote the metropolis as an international financial center.

The theme of the conference is the "New Journey of Chinese Path to Modernization·Financial Innovation and Financial Opening-up," according to a news conference held on Nov 23.

The event will shine a light on the competitive advantages of the Lin-gang Special Area in terms of its cutting-edge science and technology industries like artificial intelligence, integrated circuits, intelligent new-energy vehicles and high-end equipment manufacturing. The event will focus on "finance, technology and openness" and will involve the participation of officials from the municipal government and financial regulatory authorities, leading experts and academics and industry leaders.

Sun Xiaohe, vice director of the finance and trade development department of the Lin-gang Special Area Administration, told at the news conference that the area was a "test ground" for China to promote high-level reforms and opening up.

Sun added that with Dishui Lake Financial Bay set to become the third pole of Shanghai's financial service industry, the Lin-gang Special Area was constantly improving its capacity to innovate in finance and serve the real economy.

It was also accelerating its construction as a "special economic functional area" with more international market influence in the path of turning Shanghai into an international financial center with significant global influence. The new area was also striving to become an important growth center for Shanghai's economic development, Sun added.

The Dishui Lake conference will include an opening ceremony and three symposiums. At the opening ceremony keynote speeches will be delivered on the theme of the construction of the Shanghai international financial center and the financial opening up and innovative development of Lin-gang.

Dishui Lake Financial Bay will be launched at the same time, together with the announcement number of emerging financial achievements and the signing of major projects.

Qian Jun, executive dean of the Fanhai International School of Finance at Fudan University – located in Shanghai – said that by developing industry in an innovative way, Lin-gang was expected to connect onshore and offshore finances and use the advantage of emerging financial sectors to become a bridge between the domestic market and the rest of the world. These sectors included fintech and technological finance and innovative financial forms, such as block chain, the offshore renminbi and the cross-border capital pool.

On the occasion of the third anniversary of the establishment of the special area, an action plan for accelerating the development of emerging financial industries in Lin-gang was released.

It proposed building Dishui Lake Financial Bay by 2025 as a new high ground for emerging financial clusters, a demonstration site for financial technology development, a pilot for matching with international rules and a preferred place for financial talent from all over the world.

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