The “New Normal, New Technology, New Finance-Tsinghua PBCSF Global Finance Forum Hangzhou Summit” was held on April 21st, focusing on how Zhejiang Province could seize the opportunity to carry out economic restructuring in the “New Normal”, speed up industrial upgrade and transformation, and explore technology and finance integration.

School Senior Associate Dean Gu Liangfei made the opening remarks.

Under the theme of “Stable Growth Leading New Normal of Economy”, Yao Yudong, Director-General at Research Institute of Finance of the People’s Bank of China, said that domestic structural adjustments and reform of the supply front invigorate the new normal of economic growth, while the window period can’t be missed since there is still risk of economic downturn.

In the speech titled “Atypical Business Cycle”, Peng Wensheng, Global Chief Economist and Administrator of Research Department at CITIC Securities, stated that the atypical business cycle refers to the financial growth cycle driven by real estate investment and credit expansion. He also pointed out that the fundamental solution to the problems in Chinese economy is structural reform through the “pick-up” of the fertility rate, reform on the fiscal and taxation system, and government-lead investment.

Zhao Yue, Chief Economist of Chief Securities Hong Kong, shared his own understanding of “New Normal”. He believes that the “New Normal” is not new. The decrease in potential economic growth rate is a regular pattern and a normal status in economic development. The going of future economy is whether in U-shaped curve or L-shaped curve depends on whether there is a decrease in economy potential growth rate or in real economy growth rate.    

School Executive Associate Dean Liao Li delivered a speech on “Technologies Bring Changes to Health Insurance”, sharing with audience the changes internet technology brought to health insurance industry in the US and inspirations drawn for China’s internet insurance innovation and entrepreneurship.

Panel discussion on “Capital Promoting Technological Innovation” was joined by guest speakers including Wang Tao, President of Yangtze Delta Region Research Institute of Tsinghua University, Wang Shuifu, Chairman of Xizi UHC, Peng Zhenggang, President of Hundsun Technologies Inc., He Jun, CEO of Tongbanjie.com, and Luo Chuan, CEO of Daokoudai.com.

Associate Dean Zhao Cen presented at the summit as the host. The summit is hosted by Tsinghua University PBC School of Finance, co-organized by Yangtze Delta Region Research Institute of Tsinghua University, Daokoudai.com and Listed Company Association of Zhejiang, and sponsored by the People’s Government of Zhejiang Province Financial Affairs Office.