Editor's Note: On January 11, the 24th China Capital Market Forum 2020(CCMF) was held at Renmin University of China(RUC), Beijing. The forum was co-hosted by China Capital Market Research Institute(CCMRI),Guorong Securities and Chongyang Institute for Financial Studies, Renmin University of China(RDCY), under the guidance from Social and Science Department from Ministry of Education and support from the School of Finance of RUC, Business School, Renmin University of China(RMBS) and Xinyuan China. Over 500 guests from central government departments, colleges and universities, research institutions, security companies and fund companies participated the forum and have a discussion on “China’s financial opening-up and capital market development ”.

The forum begins with the unveiling ceremony of China Capital Market Research Institute of Renmin University of China (CCMRI), Liu Yuanchun, vice president of RUC, announces that Finance and Securities Institute of Renmin University of China(FSI) is renamed CCMRI. Jin Nuo, the chairwoman of the University Council, RUC, Ning Jizhe, the deputy head of the National Development and Reform Commission and head of the National Bureau of Statistics (NBS), Liu Wei, the president of RUC, Yan Qingmin, the vice-chairman of China Securities Regulatory Commission, Wu Xiaoqiu, the vice-president of RUC and dean of CCMRI and Liu Yuanchun, the vice-president of RUC, attend the unveiling ceremony.

Zhuang Yumin, the dean and professor of the School of Finance at RUC, persides the opening ceremony.

Liu Yuanchun, vice president of RUC addresses the opening ceremony

Liu Yuanchun, the vice president of RUC addresses the opening ceremony. He points out that China’s macro economy faces great challenges and the economic potential should be unleashed and applied through economic structural adjustment. To deal with uncertainties in the external environment and to promote the supply-side reform, it requires China’s financial opining up and the support from modern financial system and the capital market.

Hou Shoufa, chairman of Guorong Securities gives a speech on behalf the sponsors.

Hou Shoufa, the chairman of Guorong Securities gives a speech on behalf the sponsors. He says that China opens up finance, bringing opportunities and challenges to China and world. China should introduce high-level foreign institutions, talents and management experiences to promote high-quality financial development.

The opening addresses are followed by keynote speech session, which is presided by Wan Wen, professor and executive dean of RDCY.

Wang Wen, the executive dean of RDCY, presides the keynote speech

Ning Jizhe, deputy head of the National Development and Reform Commission and head of the National Bureau of Statistics (NBS), says that according to the statistics from January to October and some numbers in December in 2019, China’s economy is stable overall and makes progress. And Major new progress was made in completing the building of a moderately prosperous society in all respects

Yan Qingmin,vice-chairman of China Securities Regulatory Commission, gives a keynote speech. According to him, comprehensively deepening reform in the capital market makes a good start and the two-way opening up in the capital market achieves new development.

According to Song Zhiping,chairman od China Association for Public Companies (CAPCO), listed companies cooperated well in the capital market in 2019. He says that listed companies should fulfill the duty to improve the management and achievement, and take responsibilities for the society and investors.

Gao Yongpei, vice-president of Chinese Academy of Social Science, refers that the goal of proactive fiscal policy in 2020 is to pursue both quantity and quality development to fit the new development conception. Innovations, new contributions, new theories and ideas should be used in practice.

Wu Xiaoqiu, Vice president of RUC gives a keynote speech of “The opening up of China’s finance: an evaluation of the pattern, basic conditions and market effects”. In his report, China’s economy is undergoing fundamental changes in its scale, structure, foreign exchanges and international influence. In response, China should build a much more open and international modern financial system to reallize yuan liberalization and internationalization, and to build a new global finance center.

The forum includes three panel discussions with many experts and scholars attending them.

Panel Discussion One: “China’s economy: the stabilization mechanism and the engine for development ”

Panel Discussion Two: “China’s finance: the path for opening up and the choice of goals”

Panel Discussion Three: “China’s capital market: the focus and direction of reform

In the end, Zhao Xijun, co-dean of CCRMI of RUC delivers a peroration. He says that many leading prefessionals give speech on macro economic situation, the reform and opening up of the capital market, economic and financial policies for tax and fees reduction as well as building a high-quality capital market. And new experts expresses their brilliant views on the growing pattern, driving force, grow rate and internal and external conditions of China’s economic development. The forum will make a diference on China’s economic development in the future.