Conference highlights emerging financial center

Dishui Lake Financial Bay is accelerating the construction of an emerging financial ecosystem and building a new communication platform for the high-level opening of China's financial system.

The Dishui Lake Emerging Finance Conference is being held in the Lingang New Area this weekend.

The conference, with the theme of "Further Deepening Comprehensive Reform and Building a High level Emerging Financial Center," once again attracts the attention and wisdom of the financial industry, continuing to write a brilliant chapter in the field of emerging finance.

In a keynote speech at the opening of the conference, Chen Jinshan, Party secretary of Lingang, noted that the new area will adhere to the coordinated development of industry and finance, and create an emerging financial center that is more closely related to industrial entities.

"We will focus more on leading industries such as integrated circuits, aerospace, high-end equipment, intelligent new energy vehicles, and digital economy," Chen said. "We will make greater efforts to develop emerging financial formats such as science and technology innovation finance, financial technology, shipping finance, and green finance, truly achieving 'strong industries and prosperous finance'."

To build an international equity ecosystem, the Overseas Institution Alliance of the Lingang New Area Equity Investment Agglomeration Zone was officially launched at the conference.

This move marks a solid step forward for the Lingang New Area in promoting international financial cooperation and deepening the opening up of the capital market to the outside world.

In the next stage, the Lingang New Area will rely on the agglomeration zone to continuously optimize the development environment of the entire process of "fundraising, investment, management, and withdrawal," attracting a group of high-quality domestic and foreign equity investment resource elements.

The "Practice and Guidelines for the Application of Shanghai Global Asset Management Center of Building Asset Management Large Models" was officially released at the conference. It provides authoritative theoretical guidance and practical examples for the digital transformation and innovation practices of the global asset management industry. This will help financial institutions to accurately grasp opportunities in complex and changing market environments, and enhance asset management efficiency and risk resistance capabilities.

"From a global perspective, fintech is a very important trend, and Shanghai's introduction of relevant policies at this time is a very good guide for our industry," said Chung Ruyu, chief affairs officer for International Cooperation in Lingang New Area.

"With these policies and measures, financial institutions can develop and create more suitable applications. We all know that the financial industry is a highly-regulated industry, so after the release of some guidelines, I believe that financial institutions will have a relatively clear idea to carry out their future business.

"In the future, the application of artificial intelligence or large models will also become an important means for the financial industry to reduce costs and increase efficiency. The policy has significant indicative significance for the development of new finance in the port area."

At present, Dishui Lake Financial Bay has more than 1,400 enterprises, and has attracted more than 140 subsidiaries of the Fortune Global 500 companies and more than 170 subsidiaries of China's Fortune Global 500 businesses.

It has attracted registered capital of more than US$2 billion, and the emerging financial center of the future has begun to take shape.

As an important part of the conference, the "Typical Cases of Shanghai Financial Court (in Chinese and English)" was released on Thursday.

Xu Xiaoxiao, deputy chief judge of the Appeal Review and Trial Supervision Division of Shanghai Financial Court, told Shanghai Daily: "We hope to leverage the positive role of typical cases in clarifying market rules, stabilizing judicial expectations, conveying value orientation, and regulating industry behavior through this case release.

"Through the certainty and authority of judicial judgments, we aim to enhance the standardization, transparency, and stability of financial markets, and create a market-oriented, rule of law, and international business environment."

Dishui Lake Financial Bay is the third pole of Shanghai's financial service industry as the functional carrier, the China (Shanghai) Pilot Free Trade Zone Lingang New Area.