Voices from Lujiazui Forum

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Now let's take a brief look at some voices from the ongoing Lujiazui Forum in Shanghai.

Zhou Xiaochuan, Governor of People's Bank of China said "China's financial hubs should look at global development. Shanghai and Hong Kong should cooperate and coordinate with each other to boost overall financial development. China's voting power in the IMF should increase again in 2011. China is also expected to play an important role in making up the new rules of the game in the post-financial crisis era."

Shang Fulin, Chairman of China Securities Regulatory Commission said "China's capital market should gradually improve market mechanisms, act as an economic boost, and push ahead with structural adjustments. It should also support the development of small and medium sized firms."

Liu Mingkang, Chairman of China Banking Regulatory Commission said "Innovation is an inevitable choice for China's financial sector to combat the financial crisis. All financial institutions need to enhance innovation of risk management. Financial institutions in Shanghai should focus on optimizing products and services, increasing productivity and efficiency and reforming the salary system."

Wu Dingfu, Chairman of China Insurance Regulatory Commission said "We are aiming to make Shanghai into an innovation and R&D center for insurance products, and an insurance management and back-up service center, as well as a pilot city for insurance capital reforms."

Editor: Xiong Qu | Source: CCTV.com