On April 26, 2024, the 5th Tsinghua PBC Alumni Development Forum was held in Beijing. With the theme of "Resilience and Recovery: Building a Financial Power for High-quality Economic Development", this year's forum invited alumni, teachers, students and representatives of financial institutions to gather together to conduct in-depth discussions on topics such as building a financial power, making five major articles on the financial system, and promoting high-quality economic development.
In the afternoon of the same day, the fourth parallel forum had an in-depth discussion on the theme of "Building a Warm Inclusive and Ageing Financial System". This parallel forum was hosted by the Tsinghua PBC Alumni Association, with academic support from the Tsinghua PBC Alumni Development Research Center, organized by the Tsinghua PBC Alumni Office and the Editorial Department of Tsinghua Financial Review, and Tsinghua Financial Review as the official media.
Meeting site
Jiao Jie, Dean of PBC School of Finance, Tsinghua University, delivered an important speech on behalf of the School. He mentioned that the party and government leaders of Tsinghua University attach great importance to the cultivation of talents and the high-quality development of finance. He said that the school will anchor the goal of building a financial power, adhere to the original intention and mission of cultivating high-quality top financial talents and carrying out high-level financial policy research, and provide suggestions for the construction of a financial power. In view of how to build a pension financial system full of humanistic care, he believes that the key is that the pension financial institutions should create pension financial products that the public needs, provide pension services suitable for customers, and at the same time, financial regulators should effectively supervise the pension financial activities.
Jiao Jie made an important speech
Zhang Wei, a 1999 master's degree alumnus, a 2002 doctoral alumnus, a member of the Party Committee, assistant to the dean, director of the alumni office of Tsinghua PBC School of Finance, and secretary general of Tsinghua PBC Alumni Association, delivered a welcome speech. On behalf of the college and the alumni association, he extended a warm welcome and heartfelt thanks to the speakers, alumni, teachers and students and special guests attending the forum! He pointed out that after the "five major articles" put forward by the CPC Central Committee and the construction of a financial power, the college has actively responded to the call of the CPC Central Committee and is further exploring and establishing a top financial talent training system and a financial policy research think tank platform that meets the needs of the construction of a financial power in accordance with the spirit of the Central Committee and the deployment of the school. He hoped that the alumni would continue to participate in the construction of talent training and scientific research of the college, and work together with the teachers and students of the college to contribute to the construction of a financial power.
Zhang Wei delivered a welcome speech
Wei Yingning, a 1982 master's alumnus and former vice chairman of the China Insurance Regulatory Commission, and Dong Keyong, secretary general of the 50-person forum on pension finance and former dean of the School of Public Administration of Chinese University, delivered keynote speeches.
Wei Yingning made a keynote speech on the topic of "Opportunities and Challenges of Pension Finance under the Silver Economy". Wei Yingning said that there are three pillars of pension insurance in the mainland: one is basic pension insurance, the other is enterprise annuity, occupational annuity, and the third is personal pension finance, including personal pension. Regarding personal pensions, he pointed out that there are hundreds of personal pension products on the market, but the differentiation is limited, and the key to the development of personal pensions is to enrich product types, provide reasonable returns, and ensure the safety of funds. At the same time, the personal pension has a trillion market size, and another key to the development of personal pension is how to effectively expand publicity, improve people's awareness of it, expand the insured population, increase the amount of contributions, and enrich product types.
Wei Yingning made a keynote speech
Ke Dong made a keynote speech on the topic of "Striving to Do a Good Job in Pension Finance". Keyong Dong discussed the related issues of pension finance from four aspects: the concept and composition of pension finance, the background of population aging in pension finance, the characteristics of population aging in mainland China, and the dialectical view of population aging. He pointed out that in the face of the irreversible trend of aging, to actively respond to the challenge of population aging, pension finance includes pension finance, pension service finance, pension industry finance to support each other, complement each other, and work together to do a good job in pension finance.
Ke Dong used it as the keynote address
At the first theme forum, Guo Tianyong, a 1996 doctoral alumnus, professor of the Central University of Finance and Economics and director of the China Banking Research Center, E Zhihuan, a 1997 doctoral alumnus and vice president of the Bank of China Research Institute, Tan Haiming, a 2005 master's alumnus and deputy general manager of the asset and liability management department of China Merchants Bank, Shao Liping, a 2015 financial EMBA alumnus and chairman of Langfang Bank, and Li Jian, a 2016 financial MBA alumnus and director of the Research Department of the China Banking Association, focused on "how to do a good job in banking institutions" Inclusive Finance's Big Article".
Guo Tianyong made a keynote speech on the topic of "The Development of Inclusive Finance in the Future". Guo Tianyong said that inclusive finance needs to be intensively cultivated, including the following four aspects: First, emphasize specialization and characteristic services. Each bank operates in a different environment and has different operating characteristics, so it is necessary to find a suitable entry point. The second is to emphasize the combination of online and offline business. The combination of online and offline can obtain the real information of the enterprise from multiple angles, and at the same time, reduce the operating cost through the online, and can carry out batch operations. The third is to emphasize the combination of a variety of financial services. Not only banks issue loans, but also in the future, they can be combined with various financial services such as investment funds, insurance, and leasing. Fourth, do a good job in risk prevention and control. Inclusive finance has a wide range of points and scattered customers, and "online, professional, and integrated" should be in place as much as possible, but risk control cannot be relaxed, and external supervision and internal control of financial institutions need to be combined.
Guo Tianyong made a keynote speech
E Zhihuan delivered a keynote speech on the topic of "Challenges and Related Suggestions for Financial Inclusion and Sustainable Development". E Zhihuan pointed out that the mainland's inclusive finance has entered a period of rapid development and has achieved remarkable results, which has become an important foundation for the five major financial articles. At present, inclusive sustainable development is facing four new challenges: first, structural and local challenges, second, challenges in policy choices, third, sustainability challenges, and fourth, challenges in digital financial transformation. E Zhihuan said that commercial banks should do a good job in inclusive finance in four points: first, support the normalization, sustainability and dynamic construction of the policy system; second, various types of commercial banks should implement policies according to their operating conditions; third, support the removal of constraints on the digital transformation of inclusive finance; and fourth, strengthen the construction of the credit system and reduce risk costs.
E Zhihuan made a keynote speech
Tan Haiming delivered a keynote speech on the topic of "From What I Want to Do to I Do: How Commercial Banks Can Achieve Inclusive + Sustainable Inclusive Finance". Tan Haiming pointed out that the essence of inclusive finance is inclusiveness and sustainability. In the early stage of the development of inclusive finance, it was dominated by policy promotion. With the improvement of the inclusive financial system, commercial banks have found a sustainable direction for commercial inclusion, changing from "I want to do it" to "I want to do it". In the next step, commercial banks need to further promote "inclusive + sustainable" inclusive finance in an open platform and system, especially through multi-party cooperation, innovate the credit enhancement mechanism, and make up for the missing link in "customer-product-risk-credit enhancement".
Tan Haiming made a keynote speech
Shao Liping gave a keynote speech on the topic of "Breakthrough Practice of Digital Inclusive Finance for Small and Medium-sized Banks". Shao Liping said that the biggest advantage of small and medium-sized banks lies in geographical location, and they need to give full play to the location advantage, in this case, supply chain finance is the core, and the digital core of supply chain finance lies in risk control capabilities. She pointed out that the ability of small and medium-sized banks to do a good job in digital supply chain finance is reflected in two aspects: first, the ability of the bank's senior management to grasp the general trend, among which digitalization, serving the real economy, and asset management through data are all major trends;
Li Jian made a keynote speech on the topic of "Doing a Good Job in Inclusive Finance and Serving the Chinese-style Modernization". Li Jian said that the development of inclusive finance in mainland China has achieved remarkable results in the past ten years, showing a favorable situation of increment, expansion, price reduction and quality improvement, and the coverage, availability and satisfaction of inclusive financial services in the banking industry have been significantly improved. In the future, inclusive finance can continue to make efforts to better meet the diversified financial needs of the people and the real economy, first, inclusive finance should adhere to the correct concept of justice and benefit, handle the relationship between financial function and profitability, and profit should be subordinated to function; second, promote the integrated development of inclusive finance and technology, green, pension and digital finance; third, create a good environment for inclusive financial services, and strive to improve service quality and efficiency. Finally, in order to do a good job in inclusive finance and serve the Chinese-style modernization and high-quality economic development, banking institutions must strengthen their political responsibility, actively adapt to changes in the market situation and the demand for inclusive finance, and continuously improve the information ability and professional ethics of employees.
Li Jian made a keynote speech
At the second theme forum, Meng Xingguo, a 1982 master's alumnus and former insurance equity director of Central Huijin, Wei Chenyang, vice president of the Institute of Financial Technology of Tsinghua University, secretary-general of Tsinghua PBC Global Real Estate Finance Forum, and director of China Insurance and Pension Research Center, Qiu Wenguang, a 1998 master's alumnus, assistant to the general manager of CITIC Prudential Life Insurance and director of CITIC Prudential Asset Management Company, Qiu Jianwei, a 1999 master's alumnus, a member of the management committee of Taikang Insurance Group and CEO of Taikang Home, and a 2014 gold media alumnus, Ling Yunfeng, General Manager of the Brand Management Department of Guohua Life Insurance, and Jiang Chenxu, 2016 MBA alumnus and Senior Vice President of Changchun Guoxin Investment Group, discussed the "New Opportunities and Challenges of Pension Finance under the 'Silver Economy'".
Thematic Forum II
Meng Xingguo said that insurance products are an indispensable tool to solve risk management. In the past 20 years, the insurance industry in mainland China has developed rapidly, and the life insurance industry has developed particularly rapidly, but there is still great potential in solving life risks and pension problems for the people in the long run. Looking to the future, life insurance can play an important role in the life insurance industry in solving structural problems in the process of intergenerational wealth inheritance and pension payment. Therefore, at the legislative and regulatory level, it is necessary to redefine life insurance products, especially life insurance products, and let the insurance industry play a greater role in dealing with various life and pension risks in the long term and sustainably through regulation and legislation.
Meng Xingguo delivered a speech
Wei Chenyang said that the aging process of mainland families is fast, longevity is superimposed on the low birthrate, and the people have a strong demand for old-age security, and they are very concerned about the planning of old-age care, which provides a huge amount of space for insurance. He pointed out that from the perspective of insurance business, pension finance can be divided into: pension finance, pension service finance and pension industry finance, of which the pension service industry is crucial, insurance can play a huge space, can feed back in the field of pension business collaboration, and support the innovation of related pension technology.
Wei Chenyang delivered a speech
Qiu Wenguang said that residents will weigh the tax incentives and investment income of personal pensions against long-term lock-in liquidity to decide whether they will complete the "trilogy" of personal pension account opening, payment and investment. He pointed out that in order to solve the practical problems of "insufficient economies of scale" and "large number of accounts opened and limited payment" of a single personal pension transaction, it is necessary to innovate the marketing and payment model, and explore the change of residents' individual independent transfer to the monthly payment mode by the enterprise after authorization, and handle the retail business in a wholesale manner. He believes that in terms of asset allocation, the long-term debt duration and low risk tolerance characteristics of personal pensions objectively require a large number of long-term, high-security fixed-income financing tools and a stable and sustained growth of the equity capital market, which further depends on the existence of many high-quality enterprises that are willing to borrow for a long time and continue to pay dividends and share growth with investors.
Qiu Wenguang delivered a speech
Qiu Jianwei discussed the new opportunities and challenges of pension finance under the "silver economy". Qiu Jianwei said that longevity is the goal pursued by human beings. But the advent of the era of longevity will profoundly change all aspects of society and will reshape social relations. There are two main challenges. First, the problem of the source of funds, the mainland is a typical country that grows old before getting rich, and the total amount of pension financing is low; second, the problem of service resources, high-quality medical and pension service resources are very scarce. Seeing the changes in social and market demand, Taikang opened the exploration of a new business model of "insurance payment + innovative services" earlier, which is called the Taikang program in the era of longevity, and links the physical medical care services through the insurance product of "Happiness Appointment": one is to focus on return on investment, the other is to highlight the service of the elderly, and the third is to combine medical care and elderly care, which not only meets the needs of the elderly, but also helps alleviate the problems of the medical system.
Qiu Jianwei delivered a speech
Ling Yunfeng said that in view of the aging of the population, although the mainland has introduced a clear policy system and proposed the supply-side reform of the pension system, the development of the mainland's pension finance is facing many problems and challenges. Data show that the population born during the baby boom from the early 60s to the mid-70s of the twentieth century has reached retirement age, and from 2023, the annual retirement population in the mainland has reached more than 20 million, and this trend will continue for more than ten years, bringing challenges to the development of pension finance in the mainland. He believes that the core problem to be solved by pension finance is to improve the ability of the elderly to pay, and the options that can be provided are: through innovative products for the elderly assets to achieve value preservation and appreciation, enhance the purchasing power of the elderly, and so on.
Ling Yunfeng delivered a speech
Jiang Chenxu discussed the new opportunities and challenges of pension finance under the "silver economy". She said that there are two problems in the pension industry. First, the span is large, and the needs, concepts and payers are different, and second, the mental health problems of the elderly need urgent attention. She hopes that elderly care products can bloom to meet the actual needs of the elderly in all dimensions. She believes that through high-quality inclusive pension, the pension industry can be transformed from an emotional industry into a business model that can create huge social value. It is necessary to do the basic things well, do them right, and do them well. Finally, she called for in-depth cooperation between the pension industry and the insurance industry and the financial industry. It is hoped that China's private enterprises will gain more trust and more opportunities.
Jiang Chenxu delivered a speech
In the Q&A and free discussion session, the guests and alumni present had a warm exchange on the content of this high-end dialogue session.
Q&A session
At the forum, Xu Lanying, deputy general manager of the editorial department of Tsinghua Financial Review of PBC School of Finance, Tsinghua University, released the service plan of Tsinghua Financial Review. She first introduced the development process of Tsinghua Financial Review. She mentioned that Tsinghua Financial Review relies on the strong academic background of Tsinghua University and PBC to connect various resources of financial regulation and the industry, and has gradually developed into a think-tank-type all-media platform focusing on economic and financial policy interpretation and advice. 2024 is the first year of the second decade of Tsinghua Financial Review, and she hopes that with the guidance and support of alumni and experts, Tsinghua Financial Review will continue to give full play to its functions as a platform for communication, research and learning, so as to better serve its readers.
Xu Lanying released the service plan of Tsinghua Financial Review
This parallel forum was hosted by Zhang Wei, a 2021 alumnus of Golden Media and host of Beijing TV.
Moderator: Zhang Wei
During the forum, Zhang Wei, assistant dean of the college, presented letters of thanks to the speakers of parallel forum 4 on behalf of the college.
Letters of appreciation are awarded
Editor丨Liang Jing
Editor丨Bai Xue, Lan Yinfan
Preliminary trial丨Xu Lanying
Final Review丨Zhang Wei