In the afternoon of 13rd June, doctor BA Shusong, the chief economist of China Banking Association gives a lecture on China Financial Reform and Economic Restructuring Under the new normal. Before the lecture, the appointment ceremony is host by professor SONG Qinghua, the dean of School of Finance of ZUEL, YAO Li, vice president of ZUEL gives the appointment certificate to Doctor BA, more than 500 students and faculty attend the lecture.

    Doctor BA starts with the re-structure of the national balance sheet. He points out that with the influence of globalization, the global financial structure is re-shaped, thus the global financial market is unstable. Then he gives his analysis from four aspects, including international trade and international investment. He thought that the Chinese international influence in global economic and financial market has leveled, which guarantee the re-shape of global financial market.   

    BA refers that China possess enormous overseas net capital, however the foreign exchanges are the main source of our foreign capital reserve, the rate of return on investment is low. At the meantime, the number of those rich Chinese people with total capital of more than 1 million RMB has ranked the second the place in the world, the total fortune of those people have reached 4400 billion RMB, with only 5% of overseas investment. The future global pattern for China is focusing on three aspects: the globalization of Chinese citizen’s capital allocation; the re-structure of global value chain for the enterprises in China, and the international development for Chinese financial institutes.

    He thinks, under the new normal, Chinese enterprises should search for international investment opportunities. Nowadays, the internationalization of RENMINBI offers great opportunities to them. The IMF is evaluating add SDR to RENMINBI, which means a lot in Chinese internationalization process. He points out that the financial market is the key to re-shape the national balance sheet.

    In the Q&A part, the students and faculty raise their questions on the development directions of the commercial banks, the trends of bank cross-boarder cooperation and so on. Doctor BA answers the questions one by one with patience. In the end, professor SONG gives his conclusion on BA’s speech. He thinks that Doc. BA’s speech is based on the China’s real situation, also with global vision. He is impressed by BA’s funny and comprehensive content.

chief economics of HONG KONG EXCHANGES AND CLEARING Ltd,

chief economics of China Banking Association

was vice president of China Bank (HANGZHOU)

post-doctoral study at Peking University

Senior visiting scholars in Columbia University