Theming on “finance promoting high-quality development while maintaining stability”, the 2022 Tsinghua PBCSF Global Finance Forum was held from April 15 to 17.

Founded as Graduate School of the People’s Bank of China in 1981, PBC School of Finance was incorporated into Tsinghua University in 2012. 2022 marks Tsinghua PBCSF’s 41th birthday, and 10th anniversary since its merger into Tsinghua University.

The opening ceremony was presided over by senior associate dean GU Liangfei.

WANG Xiqin, president of Tsinghua University made opening remarks. He said that the world is currently undergoing profound changes and the pandemic shocks, unprecedented in a century. China's economy is facing the triple pressure of demand contraction, supply shocks and weakening expectations. As the core competence and a pillar of the nation, finance should take the historical mission to tackle the difficulties in constructing new development patterns and promoting high-quality development. He hoped Tsinghua PBCSF to root in China's domestic culture and research and be committed in China’s reform and opening-up, as well as to contribute to building Tsinghua University a world-class educational institute.

ZHANG Xiaohui, dean of Tsinghua PBCSF made the opening remarks. She pointed out that, China's economy is showing strong resilience, with the long-term economic fundamentals remaining solid. Yet, there are still internal uncertainties that requires China's financial policy to be more accurate, stable and efficient. Looking back at the history of China's economic development, one of the most important lessons we learned, is to solve the problem in the process of development. And the development should be prioritized. Presently, the external environment is complicated and full of uncertainties. With the pressuring needs for domestic economic structure reform, there are huge space for finance to promote high- quality development.

ZHOU Xiaochuan, made his speech around six concerned issues in digital currencies: first, how to distinguish the feasibility and stability of central bank digital currency; second, how to understand the relationship between digital RMB with M0, or cash in circulation; third, whether China's central bank should speed up and issue more digital currencies; fourth, how to manage multi-plans and multi-competitions for the best option; fifth, does digital currency have to have legislation and international standards; sixth, the role of digital currency between SWIFT and CIPS.

LIAO Min, the vice minister of the Office of the Central Commission for Finance and Economy and the vice minister of the Ministry of Finance, stated that in the face of pandemic shocks, we need to take closed look at the new situation and the changes in economic development and take efforts to avoid or eliminate the policies that have an obvious contraction effect. We need to follow the economic development rules and pursue law-based government administration, incorporating management and supervision into services. More methods should be applied, such as online services, to protect the market entity and ensure employment and people's well-being.

LIU Liange, chairman of Bank of China, said that digital economy requires more accurate and efficient financial support, where we need to speedup digital transformation in finance industry and build a more secure financial system. He suggested we speed up the digital transformation to construct digital banks and open banking into the future; redefine the boundary of financial services; and prevent risks.

A new book of Tsinghua PBCSF 2012-2022 was released at the forum. The book introduces the school’s development in the past decade, along with the development of China's finance industry.

WU Xiaoling, founding dean of Tsinghua PBCSF, sent her video greetings. She said that, the research and education at the higher education institute should always adapt to the new situation and be based on the domestic economic and financial development. Finance is a service industry that provides effective service to economic activities. Finance is born of transaction demand. It is our historical mission to carry out work and research from the perspective of problem solving.

Andrew Karoyi, the Charles Field Knight Dean of the Cornell SC Johnson College of Business, and representative of Tsinghua PBCSF global partner made a video speech. Tsinghua PBCSF and Cornell SC Johnson College of Business are committed to ensuring the next generation of global leaders in finance are educated and that they think responsibly about finance for higher-quality economic development.

BAI Chong-EN, dean of Tsinghua SEM, hoped that SEM and PBCSF would hold hands and establish more cooperation to make better achievements. In the next decade, he wishes PBCSF would make further progress in advancing financial theory and innovation, financial reform and practices, cultivate more financial talents into the new era, promote the construction of finance discipline and contribute to national financial development.

LIAO Li, executive associate dean of Tsinghua PBCSF, said in his speech that, looking forward into the next decade, Tsinghua PBCSF will carry on the traditions, and integrate innovation and development. The school will take a broader global vision, higher historical view and promote the school’s development into a new stage.

Student representative ZHANG Yixuan, and alumni representatives LI Maolin and Dang Yanbao, made the followed speeches.

The 3-day event composes of 7 plenary sessions, with topics covering “2022 China Financial Policy Report”, “the Development of Green Finance under Carbon Peaking and Carbon Neutrality Goals”, “Infrastructure Construction and REITs Practices”, “Global Economic Governance, Financial Opening-up and Financial Cooperation”, “Impact of Population Aging on Economy and Finance”, “Digital Economy and Institutional Innovations”, and “Finance Promoting Technological Innovation and Technological Development”. The forum also includes 2 evening sessions - “Night of Culture Creativity Finance”, and “Brand・Driving the Future”.

The 2022 Tsinghua PBCSF Global Finance Forum is hosted by Tsinghua University, organized by Tsinghua PBCSF, Institute for National Governance and Global Governance, co-organized by Tsinghua University National Institute of Financial Research (NIFR), and Tsinghua University Institute for Fintech Research (THUIFR), and Bank of China as strategic partner.

The 2022 Tsinghua PBCSF Global Finance Forum is hosted offline, and reported and livestreamed worldwide by over 80 media including Tsinghua Financial Review, www.weiyangx.com, official media platform PBCSF Online, special media partner xinhuanet, among others. The forum also adopts VR livestreaming for the first time, to provide the audience a panoramic and three-dimensional view of this grand forum.