On August 31st, the Office of the Financial Stability and Development Committee (FSDC) held an expert symposium on the management of financial market expectations. Yi Gang, Deputy Head of the FSDC, Governor of the People’s Bank of China (PBC) and Director of the FSDC Office, presided over the symposium. The experts studied the guiding principles adopted at FSDC meetings and the observations made by Liu He, Vice Premier and Head of the FSDC, at the FSDC special session on management of financial market expectations. Scholars and experts invited to the meeting included Zhou Xiaochuan, Vice Chairman of the Boao Forum for Asia; Zhu Min, Head of the National Institute of Financial Research at Tsinghua University; Liu Shijin, Vice Chairman of the China Development Research Foundation; Wang Yiming, Vice President of the Development Research Center of the State Council; Zhang Xiaohui, former Assistant Governor of the PBC; Yu Yongding, Member of the Chinese Academy of Social Sciences; Sheng Songcheng, Executive Vice President of the China Europe International Business School (CEIBS) Lujiazui Institute of International Finance; Guan Tao, Senior Fellow of the China Finance 40 Forum; Lian Ping, Chief Economist of Bank of Communications; Huang Yiping, Deputy Dean of the National School of Development at Peking University; and Niu Wenxin, Chief Researcher of China Economic Weekly. Financial institution representatives included Yi Huiman, Chairman of Industrial and Commercial Bank of China; Zhou Mubing, Chairman of Agricultural Bank of China;Chen Siqing, Chairman of Bank of China; Tian Guoli, Chairman of China Construction Bank; Miu Jianmin, Chairman of the People’s Insurance Company (Group) of China Limited; Huang Hongyuan, President of the Shanghai Stock Exchange; Qi Bin, Executive Vice President of China Investment Corporation; Wang Jianjun, General Manager of the Shenzhen Stock Exchange; Hong Lei, Chairman of the Asset Management Association of China; and Yang Dehong, Chairman of Guotai Jun’an Securities.
Officials including Pan Gongsheng, Deputy Governor of the PBC and Administrator of the State Administration of Foreign Exchange (SAFE), Fan Yifei and Zhu Hexin, Deputy Governors of the PBC, Wang Zhaoxing, Vice Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), and Li Chao, Vice Chairman of the China Securities Regulatory Commission (CSRC), as well as contact persons from member organizations and cooperative organizations of the FSDC, also attended the symposium.
At the symposium, experts and scholars exchanged views on the management of financial market expectations so far this year, and on how to establish an effective mechanism for the communications between the FSDC Office and the financial market, how to enable the financial regulatory authorities to listen more extensively from the financial market, how to better leverage the role of experts and scholars in financial decision making, how to stabilize market expectations better, and how to accurately forecast and analyze economic and financial situations and make right decisions.
Participants also discussed the current issues in economic and financial situation.
Mr. Yi Gang made positive responses to the suggestions proposed by experts and scholars when concluding the symposium.
