China’s Innovative Approach to Its Financial Industry Development Shared in New Video Series

SHANGHAI--(BUSINESS WIRE)--Over the past 40 years, China pursued all avenues in the roll-out of its financial reform and steered its financial system toward an open, inclusive and forward-thinking model. Now available on YouTube, the series The Story of New Finance in China recounts this period of development and shares China’s valuable experience and lessons with other economies.

China’s successful reinvention of its financial system began with the shareholding reform of its four major state-owned commercial banks, which transformed the country’s wholly state-owned banking sector into a truly diversified market. Today, those four banks have already successfully ventured into the domestic and international capital markets. ICBC and CCB have also expanded their commercial operations into the overseas markets.

The financial sector of a country serves as a driver behind its economic and societal development. This video series depicts how China planned and implemented initiatives that propelled its own growth while benefiting other economies. It also gives the general public and leaders of governments, businesses and organizations a peek into China’s financial sector.

Each video features a financial expert with unique insights on one of the following topics:

• Reform and Development of China’s Financial Industry

YANG Zaiping, Deputy Secretary-General of China Society for Finance and Banking, presents the evolution of China’s financial industry and the way forward.

• Shareholding Reform of State-Owned Commercial Banks

WU Weijun, Senior Banking Audit Partner, Deloitte, discusses the significance of the shareholding reform of the four major state-owned commercial banks.

• Opening-Up of China’s Financial Market

Mark WANG, Deputy Chairman, President & CEO (Designate) of HSBC Bank (China) Company Limited, discusses the financial industry’s opening-up policies, the development of foreign banks in China and the positive role they have played.

• Green Finance

MA Jun, Director of the Centre for Finance and Development, Tsinghua National Institute of Financial Research, explains the importance of green finance to the quality of life in China.

• Fintech and Financial Innovation

ZHAO Weixing, former President and CEO of XWBank, presents China's fintech innovations, along with related tech developments and applications, and future plans.

• Inclusive Finance in China

ZHAO Xijun, Professor at the School of Finance, Renmin University illustrates the growth of inclusive finance in China.

To watch The Story of New Finance in China, please click on this YouTube link.