2021 FISF Glorious Opening Ceremony is Held
Release time：2021-09-14
Glorious spring flowers bear rich fruit not wasting any good time. Recently, the 2021 FISF Opening
Ceremony was held. Darrel Duffie, Members of FISF International Advisory
Council, Distinguished Chair Professor of Finance at Graduate School of
Business, Stanford University and Former President of American Finance
Association, Dr. Ti Liu, Vice General Manager of Shanghai Stock Exchange,
Shang-Jin Wei, Academic Visiting Professor at FISF and Professor of Finance and
Economics at Columbia University., Yuejiang Li, Secretary of General Party
Branch of the CPC FISF Committee, Professor Jun Qian, Executive Dean of FISF,
Professor Charles Zhang, Deputy Dean of Academics, Professor Huasheng Gao, Deputy
Dean of Faculty and Research at FISF, gathered with many other academic leaders
and industrial gurus and presented a fabulous ideological event for students.
In the meantime, representatives of the new students also gave passionate
speeches to share their beliefs with their fellow students.
In consideration of the health and
security of all the teachers and students during the epidemic period, the
opening ceremony was held both online and offline. Yuejiang Li, Secretary of General Party Branch of the CPC FISF Committee, and Shang-Jin
Wei, Academic Visiting Professor at FISF and Professor of Finance and Economics
at Columbia University, delivered the opening speech, and Professor Jun Qian,
Executive Dean of FISF, delivered the convocation speech, welcoming students from
EMF, FMBA and FEMBA to join the big family of FISF, and putting forward their
ardent expectations of the students’ learning life of “mastering financial
theories and practices, setting foot In Chinaand looking forward to the global
stage”. Darrell Duffie, Member of FISF International Advisory Council, Distinguished Chair
Professor of Finance at Graduate School of Business, Stanford University and
Former President of American Finance Association, and Dr. Ti Liu, Vice General
Manager of Shanghai Stock Exchange, gave keynote speeches and brought wonderful
knowledge sharing to students. The ceremony was hosted by Professor Charles
Zhang, Deputy Dean of Academics. Altogether, all the 327 2021 FISF new students
listened attentively to the teachers’ and seniors’ exhorting and blessing words
online and offline.
Yuejiang Li
Students’ future growth and development is the most
significant brand of the school
With the
national anthem of China, the opening ceremony of Fanhai International School
of Finance, Fudan University officially started. Yuejiang Li, Secretary of
General Party Branch of the CPC FISF Committee, first gave a speech. He expressed
his welcome and wishes to 2021 FISF new students as well as anticipation and
hope on the school. He pointed that cultivating good students is the key task
of FISF, and that students’ future growth and development is the most
significant brand of the school. Young as the school is, ever since its
establishment it has borne great expectations from the university to bring
forward first-rate academic research, first-rate talent cultivation and
first-rate thinktank achievements, to contribute to Fudan’s construction of
world-leading financial discipline, and to manifest Fudan’s responsibility for
the construction of Shanghai International Financial Center and Global
Scientific Innovation Center. He hoped that all the students can be fully
devoted to the challenging learning life in the next two years, actively
participate in many colorful teaching activities, cherish their friendship with
teachers and fellow students, remain true to their original aspirations and
make progress in bigger stages in the future.
Shang-Jin Wei
Aim high and go firmly, undertaking the prosperity of an
industry and responsible for the flourishing of a country
Due to the
epidemic, Shang-Jin Wei, Academic Visiting Professor at FISF and Professor of
Finance and Economics at Columbia University delivered online a wonderful
opening speech from the USA. He first used the four idioms, “amazing the world with a single
brilliant feat”, “making the best of both worlds”, “spring coming in full form”
and “boosting worldwide peace” to conclude the growth process and honorable
achievements of the school over the four years since establishment.
Subsequently, he shared the unforgettable stories of the two athletes
performing in this year’s Tokyo Olympic Games. One is Hongchan Quan, a
14-year-old Chinese diving champion whose small figure brought out the most
difficult technical actions and whose plain wish to earn money to treat her
mother’s illness displayed her strong sense of responsibility; and the other is
Anna Kiesenhofer, an Austrian road race cycling champion who won the
championship with absolute predominance by adopting mathematical thinking,
studying field strategies and weighing her own strengths and weaknesses,
sticking to independent research and innovative thinking. Professor Wei
stressed in his summary that from the two top-leading athletes, we can see
“excellence, responsibility and innovation” are the major ideological characters
of outstanding talents in the modern society today. They are also the school
motto of FISF, and the principle that all the teachers and students have always
practiced in the four years. At last, Wei expressed his ardent expectation on
the students, wishing them to master financial theories and practices, to set
foot in Chinaand look forward to the global stage, and to give full play to
each day with plentiful energy and high spirits. By holding high aspirations
and stepping forward steadily, they will grow into extraordinary elites with
great capabilities and responsibilities, shouldering the glorious mission of achieving
the prosperity of the industry and also the whole nation.
Global influence of China’s Central Bank Digital Currency
In the keynote
speech stage of the opening ceremony, Darrell Duffie, Member of FISF
International Advisory Council, Distinguished Chair Professor of Finance at
Graduate School of Business, Stanford University and Former President of
American Finance Association, made a keynote speech entitled Global Influence of China’s Central Bank Digital Currency, deeply exploring the functions and significance of the digital currency
issued by People’s Bank of China. Professor Darrell Duffie took the example of
a daily transaction payment of Customer Alice buying bread from Baker Bob to
vividly introduce the hot forefront financial topic of E-CNY. He held that the
main economic motives for China to use E-CNY lie in nine aspects including to
replace unpopular crypto-currencies issued by private institutions such as Diem
and Bitcoin; to reduce the dependence on large fintech companies dominant in
Chinese market; to increase the efficiency of the payment system through a
currency that is faster, more interoperable, more competitive and programmable;
to improve inclusive finance; to support the conduction of monetary policies by
the central bank; to offer sovereign alternatives for the dwindling paper
currencies; to offer a more efficient mechanism to pay the public a large scale
of government allowances; to maintain the risk control of the capital account;
and to assist in the internationalization process of CNY. He emphasized that as
the first country to issue central bank digital currency, China’s E-CNY can be
applied in cross-border payment efficiently. Compared to other countries, China
has first-mover advantages. China has become the standard setter of
cross-border transactions in central bank digital currencies, which will
further push forward the internationalization of CNY.
As the host of the stage, Professor Shang-Jin Wei had brilliant
dialogues with Darrel Duffie in the internationalization of E-CNY, the effect
of E-CNY on financial institutions in Western countries and data privacy, etc.
He proposed that with wider application, the digital currency can not only
compete with the current payment system, but raise the credit rating of small-
and micro-sized enterprises regulated by the central bank. If the central bank
can share such credit rating with commercial banks, the structure of the
trading market may possibly be rebalanced.
Ti Liu
A review of the two years since the establishment of the STAR
Market in Shanghai Stock Exchange
Subsequently, Dr. Ti Liu, Vice General
Manager of Shanghai Stock Exchange, gave a keynote speech entitled A review of the
two years since the establishment of the STAR Market in Shanghai Stock Exchange, talking about the reform breakthroughs and remarkable achievements of the
STAR Market, the “experimental field” of the reform of China’s capital market.
Dr. Liu first introduced the current development status of the STAR Market. For
over two years, it has grown rapidly on the whole. By August 27th 2021, a total of 330 technological companies had been listed with the market
value reaching 5.3 trillion yuan and the financing amount exceeding 400 billion
yuan. In the past two years, the proportion of IPO companies on the STAR Market
has surpassed 60%, the number of the entire A-share market and the proportion
of their financing amount has surpassed 50%, the number of the entire A-share
market. The market size of the STAR Market at its second anniversary is far bigger
than other emerging plates, its IPO financing amount in 2020 even ranking the
third globally. Liu indicated that the rapid development of the STAR Market
shall principally give credit to five major reform breakthroughs, i.e.
diversified listing conditions, transparent issuance examination, marketized
issue pricing, differentiated trading mechanism and precise ongoing
supervision. At the second anniversary of the launch of the STAR market, it has
given full play to three reform achievements: the first one is to support
scientific and technological innovation, for which it has become a gathering
place for hi-tech and strategic emerging enterprises to list; the second one is
to optimize the ecological environment of the capital market, forming a good
industrial chain and industrial layout for the primary market and the secondary
market; the third one is to make use of the experimental field, such as the
registration system first implemented in the STAR Market, which has already
been popularized to the second-board market.
From topics of the attribute determination of
the STAR Market, the popularization of the registration system and the return
of red chip enterprises listed abroad, Professor Jun Qian and Dr. Ti Liu
conducted in-depth exchange. Professor Qian presented that the
constantly increasing restrictions and risks for enterprises to list in the US
and the continuing implementation of innovation and reform of the STAR Market
will bring a number of brand-new opportunities to China’s red chip enterprises
that listed abroad in the past. Not only will the STAR Market attract more
domestic technological enterprises to list in China, it will also welcome the
return of more red chip enterprises listed abroad.
Huan Yang
Experience is the fruit of the past and also the nurturer of the future
In the stage of
new student presentation, Huang Yang as the new student representative of 2021
EMF shared her feelings on entering the school in her speech. She talked of her
undergraduate learning in the School of Economics at Fudan University, life as
an exchange in Paris and abundant experience of internship in the UN. She
believed that experience is the fruit of the past and also the nurturer of the
future self. It was because of the school’s teaching faculty, rich career
guidance and deep concern to humanity that she chose FISF. Looking forward to
the future, she had firm faith in the school’s ability to lead students to grow
to be financial leaders with responsibility, creativity and ambition.
Chaoyue Fan
Working together to
undertake the responsibility of young talents in finance
Chaoyue Fan, New Student Representative
of 2021 Full-time FMBA, majored in software engineering at Fudan University for his bachelor’s degree. He shared his psychological journey of
transforming from the gaming industry to the financial industry. He firmly
believes that he is doing what he likes and is good at. He knew it well that
this is just the key moment for him to learn and grow, and that FISF is the
best soil to breed him and a great platform to guide him in exploring the
global financial world. He wished to work together with other excellent fellow
students around and undertake the responsibility of young talents in finance to
make the world a better place.
Lisha Xue
Achieving self-reborn and another
growth
Lisha Xu, New Student Representative of
2021 FMBA PT+, gave a speech. Working in Tahota (Shanghai) Law Firm, she shared
her personal growth, profound reflection on self-reborn and original aspiration
when choosing FISF. She expected to achieve self-reborn and another growth
through the two years’ learning. She also appealed students to keep improving
their outstanding professionalism and career performance in order to satisfy
the financial needs of the society and serve the financial strategies of the
nation, endeavoring to leave to the world an impression of “China upholding the
global finance, Shanghai upholding Chinese finance and Fudan upholding Shanghai
finance”.
Liang Cheng
Returning to the campus and setting sail with responsibility
and anticipation
“The top leading teaching faculty at
FISF will construct the most cutting-edge financial system, perfect our
financial knowledge map, expand our international financial vision, and help us
calmly deal with the changes and challenges of new finance in the new era.”
Liang Cheng, New Student
Representative of 2021 FEMBA, came from Sealand Securities and is now taking
the position of General Manager of Equity Investment Department. He said that
Fudan has been his initial desire and dream ever since childhood.
Now after nearly 20 years of working, he decided to return to the campus and be
a member of Fudan University, aiming to set sail on a new journey with
responsibility and anticipation. Faced with the complex situations at home
abroad, he deeply felt that aspiring young people in this era who are
shouldering heavy duties shall always absorb the most forefront and
international financial knowledge and apply it to working practices,
contributing their efforts to China’s economic construction and national
rejuvenation in the struggling tide of the time.
Jun Qian
Fulfill today and embrace tomorrow with diligence and sweat,
with wisdom and enthusiasm
In the concluding speech of the opening
ceremony, Professor Jun Qian, Executive Dean of FISF, first introduced the
members and features of the students in the four-degree programs of FISF in
2021. As the first session of class for full-time students taught in full
English, 2021 Full-time FMBA represents further and deeper internationalization
of the school; and the other three programs of EMF, FMBA PT+ and FEMBA have
also made multiple upgrades in aspects like curriculum design, enterprise
channel development and etc, attracting a much larger number of applicants compared
to the previous year. The joining of the students manifests the excellence of
the school, and more importantly, gives the school a sense of responsibility
for education and cultivation. At present, in an era and world with turbulent
changes, financial learning is well timed. Qian made an in-depth analysis on
the three major issues confronting both the global and Chinese economy and finance
right now: firstly the common challenges for all mankind, referring to the
joint efforts in protecting the earth home as well as the resulting
opportunities in traditional industries like green finance and double goals of
carbon peaking and carbon neutrality and emerging industries; secondly, the
issue of China’s population structure aging rapidly revealed by the seventh
population census, and the demand of the society with
such a population structure for corresponding financial services and innovative products at present and in the future; thirdly, the innovation and
supervision in an era of digital economy and monetary finance, and the balance
between the encouragement and protection of innovation and the anti-trust regulation
that must be implemented in the acquisition and application of platform economy
and data as well as large technological companies engaged in financial core
business. He expressed his wish that students can seize the opportunities of
the era, grow with a broad vision, a liberal mind and a great ambition, race
against time and fulfill today and embrace tomorrow with diligence and sweat,
with wisdom and enthusiasm.
With the melodious Fudan school song, the opening ceremony was concluded
successfully, meaning the official start of the learning life of 2021 new
students. Living up
to youth and carrying their dreams, all the teachers and students will step
forward hand in hand, composing a brilliant chapter of the new era together!
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