On the morning of yesterday (May 31), the Information Office of Shanghai Municipality held a press briefing. Ge Ping, deputy director of the Shanghai Municipal Financial Regulatory Bureau, provided an overview of the 14th Lujiazui Forum. Sun Hui, deputy director of the Shanghai headquarters of the People’s Bank of China, Zhang Zhongning, deputy director of the General Office of the National Financial Regulatory Administration, and Wang Dengyong, deputy director of the Shanghai Securities Regulatory Bureau, attended the press conference and answered questions from reporters.The 14th Lujiazui Forum will take place from June 8 to 9, 2023. Since its inception in 2008, the Lujiazui Forum has been jointly organized by the Shanghai Municipal People’s Government and the national financial regulators, successfully completing thirteen editions, attracting wide attention across society.  The forum serves as a platform to address significant domestic and international economic and financial issues, inviting key government officials, financial regulatory authorities, leaders from major global financial markets and institutions, as well as renowned experts and scholars. Through these discussions, participants aim to exchange ideas, share perspectives, and establish consensus, thereby contributing valuable insights and bolstering the development of Shanghai International Financial Center, China’s financial reform and opening-up, and global financial governance.Benefitting from unwavering support from the national financial regulators, the Lujiazui Forum has evolved into a preeminent financial gathering in China, renowned for its wide-reaching influence and as a high-end international platform for financial dialogue. Moreover, it serves as a channel through which the national financial regulators can communicate important messages and viewpoints to the international community, signifying the event’s integral role in the development trajectory of the financial center in Shanghai. 1. About the theme and topics of this forum Currently, the world is experiencing unprecedented and rapid changes unseen in a century, characterized by the ongoing advancement of new technological revolution and industrial transformation, as well as significant adjustments in the balance of international power. Simultaneously, the outlook for global economic growth is marred by uncertainties, with multiple challenges impeding economic recovery. Against this backdrop, the theme of the upcoming forum is “Global Financial Opening-up and Cooperation: New Drivers of Economic Recovery.” The primary objective is to delve into strategies for enhancing financial cooperation among nations and regions, instilling confidence in development, supporting high-quality growth in the real economy, and promoting global economic recovery and financial stability.The forum consists of seven plenary sessions and three Night Chats by Huangpu River, covering current hot issues in the economic and financial fields under 10 topics, such as Pilot Free Trade Zone Function Enhancement and High-level Financial Reform and Opening-up, Improving the Financial Service System to Bolster Sci-tech Innovation, Global Monetary Policy Adjustment and Financial Risk Mitigation, Opportunities and Responsibilities of Aging Finance, New Industry Trends of Global Asset Management, Building a Green Finance System to Support the Strategy of “Carbon Peaking and Carbon Neutrality,” Night Chat by Huangpu River I: Enforcing ESG for the Development of Transition Finance — Partner City Session: Luxembourg, Night Chat by Huangpu River II: Common Prosperity and Inclusive Financial Development and Night Chat by Huangpu River III: Financial open-up cooperation and legal guarantees. Furthermore, this year’s forum will introduce a new session called the “Science and Technology Innovation Finance Workshop,” which will concentrate on three key topics, namely “Registration System and Innovation of Direct Financing Mechanism for Science and Technology Enterprises,” “Intellectual Property Finance Unveils New Ways to Support Technology Innovation,” and “Venture Investment to Help Startups Accelerate Development.”2. About the preparations for the forumThe forum is jointly hosted by the Shanghai Municipal People's Government, the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission. The co-chairpersons of the forum are the administrator of the National Financial Regulatory Administration and the mayor of Shanghai. Shanghai, as the host city and one of the organizers, places significant emphasis on the meticulous preparation for this important event. Through collaborative endeavors from all stakeholders, the preparatory work for the forum is advancing smoothly and will proceed as planned, ensuring its successful execution. More than 70 distinguished speakers, both Chinese and foreign, have been invited to participate in the forum’s discussions. The event boasts an impressive lineup of esteemed government and regulatory authorities, including leaders from the People’s Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, the State Administration of Foreign Exchange, the National Council for Social Security Fund, and the Shanghai Municipal People’s Government. Notable figures from international counterparts such as the Luxembourg Ministry of Finance, the City of London, the Monetary Authority of Singapore, and the Treasury Bureau of Hong Kong SAR will also attend the forum and deliver speeches. The forum will also witness the presence of eminent personalities from renowned international financial organizations, including the President of the New Development Bank and representatives from other financial institutions. Furthermore, leaders from major financial markets such as the Shanghai Stock Exchange, the HKEX Group, the Singapore Exchange Group, and the Deutsche B?rse Group will participate in the event and deliver speeches. Prominent financial institutions, including CIC, China Development Bank, Export-Import Bank of China, Agricultural Development Bank of China, Agricultural Bank of China, Bank of China, China Construction Bank, Bank of Communications, PICC, China Life Insurance, and China UnionPay, will be represented by their senior executives. Local institutions from Shanghai, such as Shanghai Pudong Development Bank, Bank of Shanghai, Guotai Junan Securities, and Pacific Insurance Group, will also have their leadership present at the forum. Additionally, notable figures from international financial institutions such as JPMorgan Chase, Goldman Sachs Group, HSBC Group, Mizuho Financial Group, Fidelity International, Schroders Group, AIA Group, Crédit Agricole Bank, Bank of America Merrill Lynch Group, Neuberger Berman Group, Oaktree Capital, PayPal Group, and Moody’s will be in attendance. The heads of these institutions will actively participate in the forum and share their insights. Distinguished experts and scholars, including the Nobel laureate in economics from 2010, are among the prominent figures who will attend the event and deliver enlightening speeches.3. About the characteristics of this forum Building upon the experience gained from previous forums, this year’s event has incorporated some innovative elements. First, the timing of the forum holds great significance. The resumption of the onsite format for this forum marks a remarkable occasion, as it s with the announcement of the reform of the national financial supervision system during the National Two Sessions. It will be the first time that the top leaders of the national financial regulators will collectively address the public on the same platform. Against this backdrop, esteemed Chinese and foreign guests will once again converge by the Huangpu River, poised to deliver captivating speeches, engage in discussions on global financial development, and share their invaluable insights and wisdom with the forum attendees. Second, the forum’s agenda has been thoughtfully designed to ensure a focused and meaningful discussion. It primarily comprises plenary sessions, night chats by Huangpu River, and the science and technology finance workshop, which will facilitate in-depth discussions on the aforementioned topics. To broaden the scope and depth of the forum, a special session dedicated to partner cities has been organized, with Luxembourg serving as a partner city. This session aims to delve into the experiences and practices of both China and Europe in promoting ESG development within the financial sector. Additionally, the forum will host a series of signing ceremonies and unveil new organizations.Third, the forum will benefit from a diverse range of communication channels to ensure extensive coverage and engagement. Mainstream media outlets, both domestic and international, as well as new media platforms, will play a crucial role in publicizing and reporting on the forum. These channels include television, internet, newspapers, magazines, and various other mediums. To provide real-time access and engagement for a wider audience, the forum will be livestreamed online. The opening ceremony and plenary sessions will be broadcasted live by Shanghai Fabu, allowing viewers to follow along virtually. Prominent new media platforms such as Xinhua Finance, Knews, Yicai, Eastday.com, The Paper, Jiemian/CLS.cn will conduct live online video broadcasts on their respective platforms. Furthermore, platforms like Sina Finance, Tencent News, Toutiao, and others will also stream the forum’s proceedings on their client applications. Eastday.com will provide a full graphic live broadcast, ensuring comprehensive coverage of the event. The construction of the Shanghai International Financial Center is a significant national strategy put forward by the CPC Central Committee and the State Council, with a comprehensive perspective on China’s reform, opening up, and modernization. Over the years, with the guidance of relevant state departments and the support of various sectors in society, the progress in building the Shanghai International Financial Center has been remarkable. Shanghai aims to establish an international financial center that is commensurate with China’s economic strength and the international status of the RMB, considering it as a new starting point. The city will consistently adhere to the principles of marketization, internationalization, and the rule of law, while striving to create an “upgraded version” of the international financial center. In doing so, it aims to fully leverage the role of the Lujiazui Forum as a leading platform for China’s financial reform and development. Moreover, Shanghai intends to demonstrate its commitment and measures to deepen high-level financial opening both domestically and internationally.