On October 30, 2017, Huaxia Finance and Shanghai Academy signed a framework agreement on strategic cooperation, kicking off a new model and a new journey for the cooperation between enterprises and universities in the new era. Both sides reached a high level of consensus on the cooperation on theoretical research, institutional research, and research on financial support for the real economy, as both enterprises and universities work to serve the economic and social transformation in Shanghai and strive for the great success of socialism with Chinese characteristics for a new era.

Li Bin, Board Chairman and President of Huaxia Finance, and Wen Xueguo, Executive Vice President of Shanghai Academy, attended the signing ceremony and exchanged ideas. Also present were Li Yangbo, Vice President of Huaxia Finance and CEO of its risk control subsidiary, Li Bin, Vice President of Huaxia Finance and CEO of its asset subsidiary, Yang Huijun, Director of the Secretariat of Shanghai Academy, and Zhu Cheng, Director of the Cooperation Division of Shanghai Academy.

At the signing ceremony, Li Bin, Board Chairman and President of Huaxia Finance, aired views about the importance of academic and practical cooperation. He said, given China’s particular situations, China cannot copy the experience or model of any other country but must follow the Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, to achieve development. As inclusive finance is an outcome of financial innovation, China needs to take more time to explore the theories and models for its development in the new era. In the report given at the 19th CPC National Congress, State leaders proposed to fortify our confidence in the path, theory, system, and culture of socialism with Chinese characteristics. In concrete financial practice, Huaxia Finance needs to promote the confidence in theories across the industry, and thus expects collabration with Shanghai Academy on advancing the theoretical progress and business innovation in China’s inclusive finance sector.

Wen Xueguo agreed with him, and noted that China needs to improve the financial system, increase financial efficiency, and develop inclusive finance to revitalize the real economy. Inclusive finance can play a big role in making funds more accessible to SMEs. Shanghai Academy is an outcome of the new era and aims to be a high-end think tank, a high-end talent training base, a high-end platform for international exchanges and cooperation, and a high-end national situation investigation base. So, it needs to open itself to the outside world, integrate theories with practice, and provide intellectual support for socialist construction with Chinese characteristics in the new era. He hopes through the cooperation, that both sides will give play to respective advantages, truly combine academic results and practice, share each’s strategic achievements, and create highlights in industrial practice, academic exploration, talent training and international exchanges for the new era.

(Article by Xiang Jinmei, photos by Xie Nini)