Promoting high-quality development of finance

Experts and scholars discussed the high-quality development of finance at a seminar on economic and financial studies held at the Jiangsu Institute of Financial Research on April 3. Participants agreed that high-quality finance should be secure, stable and efficient, serving the real economy. To push forward the high-quality development of finance, reform should be conducted from aspects of quality, efficiency and impetus. It is vital to establish high-quality systems of scientific and technological innovation, talent construction and corporate culture that are closely related to financial development.

Wu Xianman, director of the Jiangsu Institute of Financial Research, said that new approaches to the high-quality development of finance are needed. Standards of financial support to the real economy should be adjusted with time. Small and medium-sized enterprises currently struggle to find financing. More support from private finance is needed for the development of the private economy.

Jiang Zhaoyi, an associate research fellow from the the Institute of World Economy at the Jiangsu Provincial Academy of Social Sciences, said that driven by self-interest, banks are unwilling to provide petty loans for small and medium-sized enterprises, so it is necessary for small loan companies to supplement traditional financial institutions.

(edited by SHAO YIJIA)