July 26, 2008. CEIBS Lujiazui International Finance Research Centre - Director General of Shanghai Municipal Government Financial Services Office, Dr. Fang Xinghai, was today named adjunct professor of CEIBS Lujiazui International Finance Research Centre (CLFC) during the Centre's 9th finance salon. Vice President and Co-Dean of CEIBS Zhang Weijiong conferred Dr. Fang with the award during a round-table discussion on "Shanghai's Path to an International Financial Centre".
Vice President and Co-Dean Zhang Weijiong presents letters of appointment to adjunct professor Fang Xinghai.
During the event, Dr. Fang first shared some personal opinions on the issue in an address that covered:
-the likelihood that East Asia will have a global financial centre
-Shanghai's opportunity to become that centre, which has been described as "One Core, Two Emphases"
-Support from central government, with specific reference to the pilot project
-Shanghai's efforts to improve the environment
-Collaboration with Hong Kong and Taiwan.
He pointed out that creating an International Financial Centre is vital in the effort to speed up the modernization of China's financial system, strengthen national power, and transform Shanghai into a true metropolis. With the world economy shifting East, Greater China (Mainland China, Taiwan, Hong Kong, Macau) is on a path to economic integration, Dr Fang said, predicting that East Asia's global financial centre will emerge from within Greater China. He added that the combination of Shanghai's location and booming economy makes it the best choice and suggested key elements the city needs to bear in mind as it moves towards becoming an international financial centre. He explained that the main idea behind "One Core, Two Emphases" is to focus on having a developed financial market while emphasising both the pilot project and improving the environment.
After the keynote speech, Dr. Fang participated in an active discussion with more than 20 top executives from overseas banks, funds, securities companies and insurance firms. The participants raised questions from industry experts' perspectives and the exchange mainly cantered around the issues of: the environment, regulation, policies, talents, and how to foster cooperation as Shanghai moves towards becoming an international financial centre.
Today's event marked the first time that the Finance Salon was conducted in English. Participants included representatives from the Shanghai bureaus of the China Banking Regulatory Commission, the China Securities Regulatory Commission, the City of London, and BBVA.
Top executives from other overseas financial institutions who also attended are:
- Branch Manager of ABN AMRO Bank (China) Co., Ltd. Shanghai Branch Chen Xiaoming,
- Deputy Chief Executive Officer of HSBC Bank (China) Company Limited Bryan Stiles,
- Manager of Deutsche Bank Shanghai Branch Julia Wu,
- CEO of HSBC Jintrust Fund Management Co., Ltd. Steve Lee,
- Managing Director of Mitsui Sumitomo Insurance (China) Company, Ltd. Wu Wenping,
- Chief Representative of Nomura Securities Co., Ltd. Shanghai Representative Office Matsuda Ryoji,
- Managing Director of The Carlyle Group Yang Xiangdong.
CEIBS Associate Professor of Finance Zhao Xinge represented the school at the event.
With the support of the Shanghai Municipal People's Government and the Pudong New Area People's Government, the CLFC was co-founded by China Europe International Business School (CEIBS) and Shanghai Lujiazui (Group) Co., Ltd. to serve as an authoritative and influential think tank for the development of Shanghai as an international financial centre. Institutional members of the Board include: Shanghai Municipal Financial Service Office, Shanghai financial regulators, Bank of Shanghai, Shanghai Pudong Development Bank, BBVA, HSBC and Mindray. The CLFC successfully co-organized the first Lujiazui Forum on May 9-10 this year. The secretariat is located in CEIBS Lujiazui International Finance Research Centre.
