Experts share insights at economic forum

The Southern International Forum of Finance and Economics 2024, held Dec. 11 and 12 in Guangzhou, has put topics such as the development of new productive forces and high-quality development in the spotlight.

The opening ceremony of the Southern International Forum of Finance and Economics 2024. File Photo

Prominent experts and scholars from around the world, representatives of international organizations, and leaders across various sectors gathered at the forum to engage in discussions and share their insights on related topics.

The annual event, which revolved around fostering a more open and dynamic industrial innovation ecosystem, emphasized the financial innovation models driving the real economy.

Xiao Gang, former head of the China Securities Regulatory Commission, highlighted the significant role of Fintech in enhancing new quality productive forces. He advocated for comprehensive institutional reforms within financial institutions and a shift from business development strategies to technology advancement support.

Liu Shijin, former deputy director of the Development Research Center of the State Council, observed at the forum that while the current macro economy is showing signs of recovery and improvement, it is also confronting growing challenges due to insufficient demand, particularly in consumer demand, with a spotlight on the inadequacy of service consumption.

Liu emphasized the need to prioritize the enhancement of basic public services and the consumption environment for low and middle-income groups, as well as to foster integrated urban and rural development.

Tian Xuan, director of the National Institute of Financial Research at Tsinghua University, called for the implementation of both short-term and long-term policies, and for more attention to be paid to the voices of the market and entrepreneurs.

The forum was organized by the Southern Finance Omnimedia Group.