At the 2023 Dripping Lake Emerging Finance Conference held on December 8, the Lingang Emerging Finance Development Report (Report) was officially released. The Report, penned by SUFE-DAFI, aims to provide strong support and guidance for the emerging financial sector, promote its more robust and innovative development, and better serve the diversified and complex economic needs.
Chen Xuanjuan, Executive Director of Dishui Lake Advanced Finance Institude, Shanghai University of Finance and Economics, said that there is no uniform definition of emerging finance in the academic world, but in practice, emerging finance is often used, and the Report elaborates on the concept of emerging finance through three keywords. The first keyword is "new", emerging finance is supported by new technology, driving the development of new industries, focusing on serving new objects and paying attention to new strategic needs; the second keyword is "useful", emerging finance, through the integration of new concepts, new technologies and new modes, attempts to The second keyword is can, through the integration of new concepts, new technologies and new models, emerging finance tries to alleviate and solve the problems existing in the traditional financial system, such as high transaction costs, insufficient financial inclusion and universality, etc.; the third keyword is "prosper", with the help of emerging finance, it can improve the efficiency of resource allocation, promote the participation of more groups in the economy, promote entrepreneurship and innovation, as well as trigger the change of the real industry chain, and thus promote the upgrading of the entire economic system. Upgrading of the economic system.
According to Chen Xuanjuan, Lingang's early and pilot implementation in the emerging financial field in recent years has provided a solid practical foundation for the Report, which also makes the Report of great practical significance.
It is understood that the Report covers five major emerging financial areas, including financial technology and digital transformation, cross-border and offshore finance, green finance and sustainable development, inclusive finance and pension finance for the new era, and puts forward a series of targeted policy recommendations and specific implementation measures.
In terms of green finance and sustainable development, Chen Xuanjuan believes that the existing problems and challenges are mainly focused on three aspects: green financial standard-setting, ESG investment and financing system, and carbon market. How to develop green finance? The Report suggests accelerating the development of green bond evaluation, ESG disclosure system, and transformation financial standards that are in line with international standards; increasing the support for financial institutions to hold traded green assets, and incentivizing core enterprises to play a leading role in the supply chain; accelerating the optimization of the carbon quota allocation scheme, attaching importance to the financial attributes of carbon trading, and promoting the development of the carbon financial market in conjunction with the carbon trading market.
In terms of pension finance, the Report suggests designing a mechanism to link the three pillars and help families build up a portfolio of pension financial assets; appropriately drawing on international experience, establishing a tax-advantaged + boost support system for corporate annuities; clarifying the development mode of personal pensions and continuously optimizing the top-level system design; innovating a mechanism for resolving conflicts of interest, and establishing a Chinese-style pension finance consulting service system; and taking important actions in pension finance to create a model zone for the coordinated development of the pension industry and the pension business. Chinese-style pension finance consulting service system; make important actions in pension finance and create a model area for the synergistic development of pension industry and pension business.
