2004 China-Japan Economic Senior Forum: Financial Reform and Development

Author: Shan Zhongdong
Publisher:
Publish Date: 2004-12-01
Features: The advancement of the social economy depends on the stability, development, and support of the financial industry for industry and commerce. However, in this process, various financial risks may arise. How to prevent financial risks and how to better promote economic development through the financial industry have become hot topics of discussion in recent years among governments, the financial sector, the business community, and academia in both China and Japan. With this initial motivation, representatives from industry, government, and academia in both China and Japan gathered at the Guanghua School of Management, Peking University, to exchange experiences in financial development, diagnose trends in the financial economy, and jointly commit to high-level financial cooperation, achieving significant research outcomes. Through this forum, it was recognized that: although China and Japan have significant differences in their stages of economic development and economic and financial structures, they face similar difficulties and challenges in many areas, such as the handling of non-performing loans by financial institutions, methods of financial supervision and regulation, approaches to financial risk management, and the implementation of financial reforms. This means that policymakers, scholars, and private entrepreneurs in China and Japan can, through mutual exchange, sharing of resources, and mutual learning, seek solutions to the problems they face. Moreover, neither China nor Japan has many opportunities for policymakers, scholars, and private entrepreneurs to freely exchange views on financial issues. Therefore, it can be said that this forum has provided such an opportunity.