On October 29, 2020 Pujiang Innovation Forum - Technology and Finance Forum was held in Shanghai, hosted by CBN. With the theme of "Technology, Finance and Sustainable Development", the forum focused on the impact of financial technology development on infrastructure construction, sustainable development and other areas. In addition, the Annual Observation of China's Technology and Finance Ecology 2020 was also released at the forum.
Zhang Jun, deputy mayor of Jing'an District, Shanghai, said in his speech that financial technology has been playing an increasingly prominent role in promoting the development of the financial industry, and that in recent years Jing'an District has always insisted on high-end leadership, thickly planted industrial ecology, focusing on the goal of "gathering Jing'an, in Shanghai, for the world", actively promoting the global service provider program, accelerating the promotion of big data, blockchain and the development of the financial industry. The deep application and cross-border integration of artificial intelligence and other technologies in the financial field. In the future, Jing'an will continue to change and innovate, and jointly open a new chapter in the high-quality development of technology and finance.
Mr. Chen Sijie, General Manager of CBN, mentioned in his welcome speech that the development of science and technology has improved the efficiency of traditional finance, solved some pain points that existed in the industry before, and laid the foundation for the sustainable development of society, economy and environment. As a professional financial media established 17 years ago, CBN has been keenly aware of the changes brought by financial technology, and has been observing and thinking from the perspective of the media for a long time to bring more professional analysis and reports to users.
Zhang Mingxi, Director of the Institute of Science and Technology Investment, China Academy of Science and Technology Development Strategy, interpreted the Annual Observation 2020 on China's Science and Technology Financial Ecology. He introduced the developments and changes in venture capital, banking and credit, science and technology insurance, capital market, tax policy, digital currency and other fields in this annual report compared with the previous year. He believes that the capital market will lead a new round of technological revolution and industrial transformation in the process of forming new economic momentum.
Xiao Feng, Vice Chairman of China Wanxiang Holdings Limited, gave a speech on the topic of "Financial Service Sinking and Infrastructure Iteration". He believed that financial service scenario is a major trend in the future, and as technology sinks, many of today's financial services will evolve into infrastructure. This is due to the integration of digital technology innovation, which has brought about a dramatic change in the cost structure of transactions, through cloud computing, artificial intelligence, big data to produce accurate images, helping to reduce the cost of matching in the transaction significantly.
Lien Ping, Chief Economist and President of the Institute of Plant Credit Investments and Chairman of the China Chief Economist Forum, spoke on the topic of "Financial Technology for High Quality Development of Wealth Management Industry". Wealth management is now undergoing digital transformation in many aspects such as customers, services and marketing, and the market size is increasing day by day. In Lian Ping's view, solving problems such as the research of financial technology in the field of basic technology, the training of talents in related fields, and the sound system of safety and security will play a positive role in promoting this industry upgrade.
Wang Sunan, Party Secretary and President of Pudong Development Bank Shanghai Branch, shared in his keynote report, "Finance Helps Construction of Science and Technology and Promotes High-Quality Economic Development," how a number of high-quality credit products previously launched by Pudong Development Bank can serve science and technology enterprises and create a technology ecosystem. In addition, he also raised several issues and thoughts that cannot be bypassed in developing technology finance today, including: the priority of capital and technology development, the importance of time and technology, and whether technology finance belongs to financial inclusion.
The roundtable forum was chaired by Lin Chunjie, Vice President of the First Institute of Finance and Economics, with the theme of how financial technology can promote the achievement of sustainable development goals. Liu Bin, Director of China (Shanghai) Free Trade Zone Institute, Pudong Institute of Reform and Development, and Finance Research Office; Xu Qing, Head of Sustainable Development Finance, United Nations Development Programme, China; and Lu Yong, General Manager of Shanghai Data Exchange Center and Director of Shanghai Big Data Application Innovation Center.
During the discussion, Lin Chunjie expressed his view that sustainability consists of two aspects, from a horizontal perspective, he hopes that the resources and achievements created by the whole society can be shared by more people. From a vertical perspective, it is hoped that today's development will not harm the potential for future development. When discussing the relationship between financial technology and sustainable development goals, Liu Bin believes that financial technology and sustainable development are complementary, and a large part of the reason for the rapid development of financial technology is that it serves groups that are not served by the traditional financial system. Xu Qing also expressed her own views, she believes that both investors and business operators, in the development of investment and business planning, it is necessary to multi-dimensional consideration of the entire investment activities will have what impact on sustainable development. According to Lu Yong, there is still a lot of room for growth in technology and finance, and if financial companies embrace fintech more openly, the development of fintech will be faster.