REGIONAL> Development
Financial street forum coming to Chengdu
By Zhang Ao (Chinadaily.com.cn)
Updated: 2009-07-17 17:34

CHENGDU: The 2nd Chengdu Financial Street Development Forum and West China New Capital Summit will be held in the capital of Sichuan Province on July 23.

Sponsored by the Chengdu municipal government, both the forum and summit are supported by the National Development and Reform Committee, EU-China International Lujiazui Financial Academy and Dow Jones Group.

Five hundred delegates from financial organizations at home and abroad will be present including Long Yongtu, Secretary-General of the Bo’ao Forum for Asia (BFA), and representatives from JP Morgan.

The summit, which has “Communication, Cooperation and Win-Win Solutions” as its theme, is aimed at developing new ways of establishing a capital market in regional development, enterprises’ demand and market management.

It will focus on presenting Chengdu’s several advantages and unswerving determination to become the financial center of Western China, according to the forum’s organizer.

The second largest city in West China, Chengdu is an important traffic, political, economic and cultural hub. In 1993, Chengdu was designated as Southwest China’s financial center by the State Council.

With the industrial transfer from the east and preferential policies of post-quake reconstruction, Chengdu embodies the necessary conditions to establish a western financial center and become globalized.

Dongda Street in Chengdu, where the planned financial center will be located, is the birthplace of jiaozi, the world’s earliest paper currency. It has been a bustling commercial street since ancient times, housing more than 70 percent of the city's foreign-funded banks and insurance companies.

China Daily Sichuan Bureau