Tsinghua PBCSF hosted the Nobel Dialogue on “Global Development of Emerging High-Tech Industry and China's Financial Innovation” on Dec 3rd. The event was attended by Wu Xiaoling, Chairwoman and Dean of the Tsinghua University PBC School of Finance, Michael Nobel, Chairman of the Nobel Sustainable Trust Foundation, Ji Xiaonan, Chairman of the State Owned Key Large Enterprise Supervision Commission of State Council, Xu Lin, Director General of the Department of Development Planning of the National Development and Reform Commission, Yao Yudong, Director General of the Research Institute of Finance and Banking of the People’s Bank of China, and Huang Haizhou, Managing Director of the China International Capital Corporation Limited.

Zhou Hao and Liu Xiao made opening remarks for the Dialogue. The Nobel Sustainable Trust Foundation awarding scholars on financial theories acknowledges that finance has great influence on the real economy, said Zhou. Liu sated that in the future finance would provide great support to scientific and technological innovation and vice versa.

During the round table discussion, Michael Nobel stressed the significant role that government policy plays in promoting the development of financial and technological innovation. He believes that collaboration across industry and academia could contribute to the collaboration between technology and capital.

Xu Lin introduced the current situation in China’s innovation: China’s annual budget for R&D accounts for over 2% of GDP, ranking the second in the world, after USA. He also introduced the financial policies China holds to support innovation, including tax credit policy. He is very optimistic about China becoming an innovative country in the near future.

Innovation shouldn’t be separated from finance, emphasized by Ji Xiaonan.

Yao Yudong, as a financial policy-maker, proposed measures to connect high-tech and finance from the aspects of capital market, enterprise structure and financial model. As one of the practitioners in the financial industry, Huang Haizhou believes that there should be three levels to financial innovation: financial theory, financial policy and financial practice.  

Wu Xiaoling gave introduction to the stock incentive policy in the Securities Act and elaborated on issues of inspiring scientific and technological personnel.

The Nobel Dialogue is hosted by Tsinghua PBCSF and organized jointly by Tsinghua University National Institute of Financial Research, Beijing China Cultural Exchange Association, and Xin Hua Fortune Gathering (Beijing) Investment Consultant Co., Ltd.