Deputy Cheng Hehong: Make good use of the new trump card of the leading district to build a new financial highland in Shanghai

The Sixth Session of the 15th Municipal People's Congress opened today. In the afternoon, the Pudong New Area delegation held a joint group meeting to continue deliberating on the government work report. Deputy Cheng Hehong suggested that it is necessary to make good use of the new trump card of leading the district and build a new financial highland in Shanghai.

First of all, build a new highland for science and technology finance. It is necessary to closely integrate the construction of Shanghai's financial center with the construction of science and technology innovation centers to serve Shanghai's high-quality development.

Second, build a new highland for green finance. It is hoped that we can make full use of the relevant policies of green finance, pay close attention to the study and formulation of green finance regulations in Pudong, Shanghai, guide financial institutions to actively carry out green financial product development, help enterprises transform and upgrade, and support more green and low-carbon enterprises to achieve development. Shanghai's green financial products are still relatively large, including insurance, bond funds, etc., and Shanghai's securities companies underwrite green bonds accounting for 35% of the country.

Third, build a new highland for open finance. Strengthen the opening up of the city and provide financial service guarantees for Shanghai to better participate in international economic competition and cooperation. At present, there are more than 1600 licensed financial institutions in Shanghai, of which 1/3 are foreign-funded institutions. The next step is to accelerate the construction of the Shanghai international financial asset trading platform and grasp the top-level design of the system and mechanism.

Fourth, build a new highland for innovative finance. Efforts should be made to promote the development space of asset management products, especially to actively promote the pilot project of foreign exchange futures through financial futures trading and delivery places.

Finally, build a new highland of rule of law finance. Make good use of Pudong's legislative authorization, improve the mechanism for regional service centralized reform, opening up, and innovative development, coordinate the joint efforts of financial legislation, judiciary and regulatory law enforcement, and enhance the development strength of Shanghai's financial market.

Author: Gu Yiqiong

Photography: Yuan Jing

Editor: Liu Liyuan