QINGDAO, China, July 26, 2021 /PRNewswire/ -- A news report by Qingdao Daily on 2021 China Wealth Forum:

This year's China Wealth Forum themed "New Era, New Wealth, New Management" was held on July 24- 25 in Qingdao, East China's Shandong Province.

The forum brought together scholars and experts on China's financial industry from home and abroad to discuss issues such as economic recovery and risks in the post-pandemic era, financial opening-up and cross-border cooperation, as well as future derivatives and shipping trade innovation.

Attendees included leaders from the People's Bank of China, China Securities Regulatory Commission, China Banking and Insurance Regulatory Commission, senior executives from renowned financial institutions and corporate groups, and over 70 guests from famous universities and think tanks. The 2001 Nobel Prize Winner in Economics, A. Michael Spence, participated in this conference through video link.

Xiao Yuanqi, vice chairman of the China Banking and Insurance Regulatory Commission, stressed that China has been fostering a new development paradigm. The economy would transition toward high-quality development. Therefore, China's future growth momentum mainly lies in technology, green industry, advanced manufacturing, and infrastructure construction.

The deputy governor of the People's Bank of China, Chen Yulu, pointed out that China's asset management market has gradually moved from rapid growth to standardized development and is expected to serve the healthy development of the real economy. During this process, the Qingdao's Comprehensive Financial Reform Pilot Zone for Wealth Management has played an essential role in financial innovation and standardization.

Fang Xinghai, vice chairman of the China Securities Regulatory Commission, also praised Qingdao's leading role in financial reform and innovation. "In recent years, Qingdao distinguished itself in exerting industrial agglomeration, promoting coordinated development, and boosting the real economy, which sets a prominent example to the nation."

During the forum, Shandong Gainsense Futures Co. Ltd. jointly formed by Qingdao Port (Group) Co. Ltd., Qingdao Conson Financial Holdings Co. Ltd. and Qingdao SCODA Development Group Co. Ltd. officially announced its opening. It is the first approved national futures company since China restarted the approval of futures companies for over 20 years and is the first legal person futures company in Qingdao.

The 2021 China Wealth Forum is a flagship event of Qingdao's Comprehensive Financial Reform Pilot Zone for Wealth Management, as well as a resourceful platform for the entire financial industry.