New finance think tank launched in Shanghai

A non-governmental think tank aimed at enhancing the financial sector’s capacity to serve the real economy was launched in Shanghai on Tuesday.

Shanghai Financial Service and Real Economy Research Institute, located in Jing’an District, was established by some of the country’s leading financial institutes, including Hony Capital, Sinopharm Capital and Bank of Communications.

Zhou Wei, head of the institute, said it will cooperate with financial supervisors, financial institutes at home and abroad, as well as companies in the real economy sector.

The institution hopes to offer financial and technological innovation services to help small and medium-sized companies grow and overcome operational challenges, Zhou said.

He added that they will provide professional suggestions to policymakers as well.

With aspirations to become a world-class platform, the institute has recruited nine foreign experts who will work with local counterparts.

Chen Yuan, head of the China Association for the Promotion of Development Finance, said finance should be closely integrated with the real economy, and financial innovation can drive the next industrial revolution.

Lu Xiaodong, Party chief of Jing’an, said finance plays a vital role in the district’s development. Jing’an is home to nearly 1,000 financial institutes including banks and securities traders.