Angela BAI shared at the Sino-US symposium on “Building the Financial System of the 21st Century"

During October 27 to 28th, 2021, the 18th symposium on "Building the Financial System of the 21st Century", an agenda for China and the United States was successfully held. The forum was ointly sponsored by the China Development Forum and the International Financial System Center of Havard Law School. Angela BAI, the Secretary General of CASVI and the CEO of SusalWave participated in the subject sharing and the panel discussion through the online video conference.

The symposium discussed the current changes and heated topics in the Chinese and the U.S. economies and financial markets from the perspectives of ESG investment, digital currency, and technological innovation, as well as the economic relations and financial industry between China and the U.S. More than 170 experts and scholars from regulatory authorities, financial enterprises, and academic institutions of the two countries attended the symposium:

LONG Guoqiang, Vice President (Vice Minister), Development Research Center of the State Council, P.R. China, XIAO Gang, Former Chairman, China Securities Regulatory Commission (CSRC) introduced by FANG Jin, Secretary General, CDRF, and LIU Jun, President, Bank of Communications, China attended the meeting and gave speeches. LIU Fushou, Chief Risk Officer, China Banking and Insurance Regulatory   Commission (CBIRC), JIAO Jinhong, General Counsel, China Securities Regulatory Commission (CSRC), ZHOU Chengjun, Director General of the Research Institute of the People’s Bank of China (PBOC) and other leaders of financial regulatory department participated in the discussion. Larry Summers, President Emeritus, Harvard University; Former Secretary, U.S. Department of the Treasury, Debbie Toennies, Managing Director, Head of Regulatory Affairs, Corporate and Investment Bank, J.P. Morgan Chase, participated the meeting and delivered a speech.

Following experts attended the symposium:

·HUANG Zhaohui, CEO, China International Capital Corporation, Ltd.

·HUANG Yiping, Deputy Dean, National School of Development, Peking

·QIAN Jun, Professor of Finance and Executive Dean at Fanhai International School of Finance (FISF), Fudan University

·Angela BAI, Secretary General of China Alliance of Social Value Investment (CASVI)

·Heath Tarbert, Chief Legal Officer, Citadel Securities

·Ken Bentsen, President and CEO, SIFMA

·Jordan Bleicher, Senior Advisor, Office of Domestic Finance, U.S. Department of the Treasury

·Andrea Blackman, Managing Director, Global Head, Moody's ESG Solutions, Moody's Corporation

·Rick Lacaille, Global Head of ESG, State Street

·Simon Gleave, Regional Head of Financial Services, KPMG Asia Pacific

·Debbie Toennies, Managing Director, Head of Regulatory Affairs, Corporate and Investment Bank, J.P. Morgan Chase

·Nick Lardy, Senior Fellow, Peterson Institute for International Economics

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Angela BAI, delivered a case sharing on "the Significance of ESG Investment to China US Financial Markets and Addressing Climate Change". She believes that China's investment is moving forward. In order to promote the development of sustainable finance in China, CASVI and SusallWavle have been committed to providing comprehensive solutions for sustainable development value services and developing financial instruments to transfer capital from the traditional investment which only focuses on profits to ESG investment and SDGs investment. Angela BAI pointed out that five years ago, when she had a dialogue with the leaders of VC, PE, and mutual funds, she got a lot of negative feedback and misunderstandings. But it has gradually improved since most investment institution began to pay attention to sustainable investment. Whether PE or pension, they are all considering how to build ESG solutions in the financial field to achieve SDG.

In order to facilitate investors to comprehensively analyze and measure the value of SDGs and help them ensure the high-quality investment targets with sustainable development ability, CASVI has invited more than 300 experts from home and abroad, including capital markets, NGOs, universities and so on. After 18 months of in-depth research, with joint efforts, CASVI has published and released the ranking list of sustainable development values. At the top of the list are also the A-share companies with large market value and excellent performance in sustainable development.

Angela BAI said that the sustainable development value ranking list of CASVI has already been approved and appreciated by several investing institutes and fund managers nowadays. They consistently agreed that the performance of the company's stock was positively correlated with their contribution to sustainable development. Therefore, from the perspective of investors, the sustainable development value ranking list is a very good choice for reference. This means that if investors have ESG indicators, they can link these indicators with the United Nations SDGs, that is, the grand blueprint of SDG, to judge how the performance of this institution will be in the stock market.

CASVI and other policy research institutions such as Shenzhen Stock Exchange and China stock exchange, studies and develops the value evaluation model of sustainable development. Through the evaluation model, CASVI scores the sustainable value of A-share listed companies, selects 100 listed companies with high sustainable development value among the constituent stocks of CSI 300 Index, and compiles CSI sustainable development 100 index to better find the internal value law of enterprise sustainable development. Additionally, CASVI and the head fund company have been launched the first sustainable development theme ETF in China, which was listed and traded on February 20, 2020, mainly focusing on ESG and SDG objectives.

At the end of the meeting, Angela BAI also joined the panel discussion to discuss the trends and trending issues in the international financial field, such as Sino-US economic and financial circles, and offered suggestions. Tracing back, Sino-US financial seminar has been held in China and the United States for 18 times since 2004. Professionals in the financial fields of the two countries offer suggestions and recommendations through the symposium. Therefore, the symposium has become an important platform for regular direct exchanges between the financial world of China and the United States.