summary

As far as the construction of science and technology finance is concerned, Shanghai is making efforts to improve three major systems, namely, the policy support system of science and technology finance, the service system of science and technology finance, and the product innovation system of science and technology finance, and actively carry out pilot investment and loan linkage. We should attach great importance to the development of science and technology finance in Shanghai, science and technology finance may bring Shanghai a major opportunity to achieve "overtaking".

Recently, a list named "2016 University Salary Rankings" has brushed many people's circle of friends. On September 24, "2016 Small Business Finance Forum" with the theme of "Innovation and Entrepreneurship and New Financial Status", Tsinghua University was ranked first and Shanghai University of Finance and Economics was ranked second. "Held at the Shanghai University of Finance and Economics. Nearly 100 experts and scholars from the field of finance and representatives from financial management, financial practices, and small and medium-sized enterprises attended the conference, offering suggestions and countermeasures on how finance can serve science and technology and economic transformation and upgrading, and discussing hot topics in finance today, such as science and technology finance, investment and loan linkage, and P2P.

Zhou Yupeng, President of Shanghai Modern Service Industry Association, Honorary President of Shanghai Institute of International Financial Center, and former Deputy Mayor of Shanghai.He attended the meeting and delivered a speech. He said that how to control financial risks is an international problem, but if the control of financial risks is thoroughly studied, it will be of great value to economic development and will also play a positive role in solving the current financing difficulties of small and micro enterprises that we face.

In his keynote speech entitled "Four New Financial Modes in the Construction of Shanghai International Financial Center in the New Period,"Zheng Yang, Director of the Shanghai Financial Services Office, Director of the Academic Committee of Shanghai Institute of International Financial Center, Shanghai.It said that science and technology finance, inclusive finance, Internet finance and green finance are four important focus points for new financial development in Shanghai. As far as the construction of science and technology finance is concerned, efforts are being made to improve three major systems, namely, the policy support system of science and technology finance, the service system of science and technology finance, and the product innovation system of science and technology finance, and actively carry out investment and loan linkage pilot projects. He said that we should attach great importance to the development of science and technology finance in Shanghai, and science and technology finance may bring great opportunities for Shanghai to achieve "overtaking".

Fu Xinhua, Deputy Director of Shanghai Municipal Commission of Economy and Informatization and Policy Consultant, Small Business Financing Research Center, Shanghai University of Finance and Economics, Shanghai, ChinaHe delivered a keynote speech on "Financial Needs of SMEs in Shanghai in the Context of Mass Entrepreneurship and Public Innovation". He said that attention should be paid to the development of small and medium-sized enterprises (SMEs). SMEs have two important roles to play in the city's development: one is to play a significant role in solving employment, and to some extent, SMEs have become a trendsetter for employment; the other is innovation, which is also an area where the government has high expectations, while the previous output value and tax revenue are no longer the "first-line indicators" for evaluating SMEs. In his view, it was important to be vigilant against the current tendency of "drifting away from the real to the unreal" in the economy, and in that context, it would be of great significance if financial innovation could provide more solutions in support of the real economy.

Bai Chengyu, Secretary-General, China Microfinance UnionIt is proposed that China's individual online lending platforms represent the future direction of development, but now the conditions are not mature, which to some extent also caused the alienation of the P2P model. This alienation is reflected in two aspects: first, in order to increase revenue and cover costs, had to use the pool of funds credit intermediary model, through high leverage to increase profitability, from information intermediaries into bank-like credit intermediaries; second, engaged in securitization mode of bond transfers, alienated into asset trading platform. Overall, in the future, at the regulatory level, or in accordance with the logic of P2P to return to its original attributes, that is, information intermediary services rather than credit intermediary services; individual online lending platforms, it is necessary to cooperate with licensed financial institutions or obtain a financial license to accumulate high-quality customers and form a risk assessment rating system.

Prof. Xu Xiaoping, Director, Small Business Financing Research Center, Shanghai University of Finance and Economics, ChinaIt is believed that China's economic development needs new kinetic energy and new engines, and innovation is the guarantee for the emergence of new industries and new business forms. Any economic activity cannot be carried out without financial support, so how finance can support innovation and entrepreneurship is an important area in China's economic development at present. In this area, there are many issues that deserve more in-depth discussion in the future, such as the changes in the financing needs of small and medium-sized enterprises, especially innovative technology-based small and medium-sized enterprises, in the context of economic transformation and upgrading; how to complete the transformation and upgrading of the traditional business model of commercial banks; what kind of institutional environment is needed for angel investment and other venture capital institutions; and the possible large-scale entry of state-owned capital into the venture capital industry. What does the entry of the "national team" mean for the development of the venture capital industry, how to cooperate and symbiosis between governmental and commercial venture capital, etc.?

The forum was organized by the Small Business Financing Research Center of Shanghai University of Finance and Economics and co-organized by Shanghai AIICO Financial Information Service Co.

 Source: Shanghai Watch