14th Lujiazui Forum focuses on Financial Supervision and Green Finance

Financial supervision and green finance are the main topics at the 14th Lujiazui Forum.

This year’s Lujiazui Forum officially opened in Shanghai on Thursday, with the theme “Global Financial Opening-up and Cooperation: New Impetus for Economic Recovery.” China’s financial regulator and government officials shared their thoughts on financial supervision at a time of global economic uncertainty.

Li Yunze, director of the State Financial Services Agency, told the forum that while the recent risks in the international banking sector have little direct impact on China’s banking system, they are a stark warning. Efforts will be made to counter the risks at an early stage.

He welcomes the entry of stable and well-qualified foreign institutions into the Chinese market in fields such as wealth management, green finance, elderly care and wealth management, Li said.

Another important topic at the two-day forum is green finance. Yi Gang, director of the People’s Bank of China, said China’s thriving multi-tiered green financial market system, including loans and bonds for environmental protection projects, supports China’s goal of peaking in carbon emissions by 2030 and achieving carbon neutrality by 2060.

By the end of the first quarter of 2023, the stock of environmental protection project loans in China surpassed 25 trillion yuan and the stock of environmental protection project loans surpassed 1.5 trillion yuan they were among the highest in the world.

2023-06-09 01:19:48
#Financial #Supervision #Green #Finance #Main #Topic #Lujiazui #Forum

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