Researchers to play a critical role

By Zhuan Ti | China Daily | Updated: 2016-06-29 08:40

The Qingdao government hosted a seminar on financial innovation and risk management on June 19.

Bai Guangzhao, Qingdao Financial Affairs Office director, Xia Zhengqi, vice director of Jinjialing Financial Zone's Management Committee, and Zhang Yongbing, vice president of Shandong University joined more than 100 delegates from institutes, banks, consultation companies and other financial agencies from home and abroad at the seminar.

During the event, the government also announced the establishment of several financial research institutes: China Financial Risk Quantitative Research Collaborative Innovative Center, Qingdao Collaborative Innovative Financial Institute, and the Financial and Wealth Management Institute of Shandong University.

All three institutes are supported by a research team led by Peng Shige, an academician of the Chinese Academy of Sciences from Shandong University. Bai believes these new institutes will inject vitality into the wealth management and financial reform zone in Qingdao, and will be important in promoting the concentration of quality financial resources in the city.

China Financial Risk Quantitative Research Collaborative Innovative Center is led by two CSA Academicians, Peng Shige and Yan Ji'an, and consists of eight partners, including Peking University. The Qingdao government thinks the center can play important roles in helping local financial enterprises to strengthen their technological power, international influence and expand their future development.

Qingdao Collaborative Innovative Financial Institute will take advantage of the aforementioned center's resources to train higher-end professional financial talents for the development of the Qingdao wealth management and financial reform zone, and effectively raise the city's status and influence in China's financial sector.

The Wealth Management Institute of Shandong University shows the university's support of Qingdao's development. The institute is expected to become a training base for financial talents.