On February 26, jointly hosted by the Financial Research Center at Counselors’ Office of the State Council (COSC) and Chongyang Institute for Financial Studies at Renmin University of China, a closed-door seminar on “Monetary Policy and Financial Stability in the Context of Economic Transformation and Risk Prevention” was held in RDCY, and it was also financial analysis meeting of the Financial Research Center of COSC in the first quarter of 2019.
The meeting was presided over by Ji Min, director of the Counselor's Office of People's Bank of China. Liu Yuanchun, vice president of Renmin University of China, and Wang Jing, deputy director of the second division of the COSC attended the meeting and delivered speeches.
At the beginning of the meeting, Wang Wen, executive dean of the RDCY, released the research report on deepening the consciousness of financial power and improving the financial services to the “Belt and Road”(B&R). Written by Wang Wen, Liu Ying, a researcher of RDCY and Ren Wei, assistant researcher of RDCY, the report analyzes the current situation of financial supply in the construction of the Belt and Road, and Put forward policy recommendations for strengthening international financial cooperation on the issues of insufficient of financial support and direct financing.
The meeting held at the time when the the 13th group study of Political Bureau of the CPC Central Committee and General Secretary Xi Jinping emphasized the deepening of the structural reform of the financial supply-side and the enhancement of the financial services to the real economy. The relationship between finance and economy has once again become a hot topic.
The research report proposes that the Belt and Road initiative has made great progress for more than five years, but due to problems such as insufficient financial supply, project construction has also been hindered and several people began to hesitate, misunderstand and even misinterpret the Belt and Road. Therefore, in the critical period of joint construction of the Belt and Road, correctly understanding the logical relationship between economy and finance can help establish a sense of financial services to the real economy, so as to give full play to the key role of financial supports in the construction the Belt and Road.
The research report is based on the five-year field study of the countries along the Belt and Road. Focusing on the scientific logic that “booming economy led to booming finance and strong economy lead to strong financial”, the report analyzes the relationship between the Belt and Road construction and the financial consciousness from a developmental and scientific perspective.
At the seminar, the participants proposed a large number of targeted and actionable policy recommendations on how to implement Xi’s instruction in the group study, how to recognize the economic and financial situation of this year, how to promote the structural reform of the financial supply side, and how to deepen the financial services to the small and private enterprises.