Insights

After three days of intensive discussions and fruitful in-depth exchanges, the 10th China International Finance 30 Forum & Financial Cooperation and Innovation Forum successfully concluded. During the meeting, experts and scholars from all walks of life discussed the theme of “financial cooperation and innovation in the complex international landscapes of the new era”, and actively offered their suggestions on how to deal with the challenges and ride the tide amidst the current international landscapes, which will undoubtedly help advance the implementation of new vision of development, build a new development pattern, and promote high-quality development.

Problems are the slogan of the times and also the voice of the times. It is a fundamental task for the theoretical research to hear the voices of the times clearly amidst the clamor of the crowd and to solve the problems proposed by the times. This forum, held on the occasion of the successful conclusion of the 20th National Congress of the Communist Party of China, highlights the great significance of combining theory with practice in the era more than ever. The forum not only focuses on major issues and tricky parts in the economic and financial fields, but also attaches equivalent importance to foresights, producing valuable research results on topics such as macroeconomics, international monetary system, capital market, financial cooperation, and national security, among others. Policy recommendations will be further formed based on certain contents as a result of people’s joint efforts, marking a fulfillment to the original intention of holding this forum.

Over the past 40 years, despite remarkable achievements in its economic growth, China faces pretty arduous tasks and challenges in improving the ecological environment and social welfare and narrowing the income distribution gap. Meanwhile, the major developed economies rapidly tighten their loose monetary policies; the COVID-19 pandemic deals a blow on the world economy; and geopolitical conflicts causes industrial and supply chain ruptures and energy and food crises. These intertwined influences have gradually weakened the world’s economic growth and put some regions and countries at risks of recession, which has become a historic challenge affecting the development of the global economy.

At this critical point of global development, especially in our strategic response to the “dual circulation development pattern that takes domestic development as the mainstay, with domestic and international development reinforcing each other”, we urgently need to actively participate in and grasp the essence of the new order and pattern of the international financial system through all-round, multi-field and deep-level financial cooperation with an open and innovative mind. The China International Finance 30 Forum undoubtedly plays a unique and forward-looking role in this regard for it has actively organized 10 seminars with a focus on generating wisdom in the collision of viewpoints and proposing new solutions in constructive discussions.