Zhao Xijun: The Construction of Multi-Level Capital Market

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Zhao Xijun: The Construction of Multi-Level Capital Market

2019-10-15

On September 27th, the second lecture of "The 70th Anniversary of the Founding of The PRC" series which hosted by Chongyang Institute for Financial Studies of Renmin University of China (RDCY) and Huanqiu Web, was held at RDCY.


Zhao Xijun, the deputy dean of the School of Finance of Renmin University of China, delivered a keynote speech on "The construction of multi-level capital market ". The lecture was hosted by Liu Ying, the research fellow of RDCY. Yang Qingqing, Assistant to the dean of RDCY, gave an opening speech. More than 200 guests attended the lecture.



Zhao Xijun pointed out that various indexes such as the size of China's capital market, products, and the number of listed companies all have developed well. The ranks of indicators are the best among global capital market. With the joint efforts of all parties, China has spent less than 30 years and achieved such remarkable achievements.


Zhao believes that in the past 30 years China's capital market has made significant contributions to the construction of the entire market economy: first, the establishment and development of the capital market have promoted the formation and improvement of the socialist market economic system; second, it promoted economic growth and made an indelible contribution to the real economy; third, the development of the capital market has made tremendous contributions to the development of the financial industry.


Zhao Xijun mentioned that the development of the capital market also faces problems and challenges. The external problem is that the financial structure, capital supply and demand may not be able to adapt to macroscopic changes. The internal is mainly the concept, structure, management of capital market development and internal problems of listed companies. There are also two major challenges in the capital market: first, the development of science and technology. The second is the opening of the capital market.


Zhao said that as to financial service industry, after the economic development and social development entered a new stage, the key point was that the changes of people's ideas and requirements have been the key point for us, instead of the growth speed of GDP. How to move towards high quality development?


From the perspective of the overall market development, we must improve the service efficiency, risk management capabilities, and improve the inclusiveness of financial services.