Financial Power in China Arouses Heated Discussions, Nie Qingping Probes into Thirty Years’ Grand Course of Chinese Stock Market

Release time：2020-07-07    

On July 4th, 2020, Financial Power in China, a series of high-end financial interviews program, Season 1 Episode 2 invited Nie Qingping, Secretary of the Party Committee and Board Chairman of China Securities Finance Corporation Limited, to have in-depth dialogues and overall analysis on the topic of “Walking Among Stocks” with Professor Qian Jun, Executive Dean of Fudan FISF and Executive Editor-in-chief of Fudan Financial Review.

Looking back upon the latest abnormal fluctuation of Chinese stock market (in 2015), Nie first pointed out that, risk misjudgment was caused by uncertain attributes of financial products; second, statistics and inspections needed to be enhanced for stricter supervision on macro-prudential management; and last, financial institutions needed operational boundaries to make sure they could specialize in specific fields.

So what measures should China take to deal with abnormal fluctuations and rescue the stock market? According to Nie, the key is to add fluidity to the market so as to stabilize the market and avoid systematic financial risks. In fact, for various markets, the supervision department will design various market mechanisms which should be closely connected to the environments and conditions of the markets. Chinese financial mechanisms must be designed on the basis of practical market situations.

He further analyzed that with the increasing maturity of the market, individual stock investors are growing increasingly rational and institutional investors will gradually become the market subjects. In a mature market, derivatives are a useful tool to hedge risks, but in current domestic markets they have always been regarded as a speculative instrument, exerting no reduction of risks but expanding the volatility. Thus the development of the derivatives market should depend on the spot market.

The series of high-end financial interviews program Financial Power in China is a solemn endeavor launched by Fudan Financial Review, FISF and Yicai. It aims to salute the great financial achievements in the past 70 years ever since the establishment of the PRC, to comb out the systematic structure of China’s financial industry and to identify the opportunities and challenges. As the host of the program, Professor Qian Jun, with distinguished guests, reviews the development path of China's finance through his in-depth research and insight into China's finance, grasps the pulse of China's finance, explores the power engine that pushes China's finance forward, thus interprets the essence and power of China's finance.

The program also invited Nie Qingping, Board Chairman of China Securities Finance Corporation Limited, Zhang Xuyang, Chief Business Director of China Everbright Bank, Board Chairman and Secretary of the Party Committee of Everbright Wealth Management Co., Ltd. and Former Vice President of Du Xiaoman Financial, Liu Ti, Deputy General Manager of Shanghai Stock Exchange, Jin Yu, Secretary of the Party Committee and Board Chairman of Bank of Shanghai, Professor Meng Xiaosu, Board Chairman of HuiLi Fund Management Co., Ltd. and PhD in Economics, Geng Jing, CEO of Greenland Group and Board Chairman and CEO of Greenland Financial Holdings Group, and many other leading experts in various fields of Chinese finance to have engage in deep analysis on the past, present and future of Chinese finance by exchanging views on central themes of the future position of the bond market, financial technology and the rise of China, the banking system that dominates Chinese finance, the craziness of the real estate market and real estate finance in the post-epidemic era.

The series of high-end financial interview program Financial Power in China (Season I) will be broadcast at 21:00 every Saturday on Yicai TV, major media platforms under Yicai, BesTV under SMG and IPTV, etc. In the next few days the full version of the video interview will be put on the WeChat official accounts of FISF and Fudan Financial Review.