On January 8, the 26th(2022) China Capital Market Forum was held. This forum is co-sponsored by the China Capital Market Research Institute (CCMRI) of Renmin University of China and Guorong Securities Co., Ltd., with special support from the School of Finance of Renmin University of China(SFRUC), Chongyang Institute for Financial Studies, and the editorial department ofThe Applied Economics Review. The theme of the forum is “China’s Capital Market: New Concept, New Ecology, New Pattern”. Heads of central government bodies, universities, research institutions and other relevant units, experts and scholars, as well as industry guests and media reporters attended the meeting.

During the opening ceremony, Prof. LIU Wei, President of Renmin University of China, delivered an opening speech, HOU Shoufa, chairman of Guorong Securities Co., Ltd., delivered a welcome speech, and Prof. WU Xiaoqiu, Director of the CCMRI delivered a keynote speech. ZHUANG Yumin, dean of SFRUC presided over the opening ceremony and keynote speech.

LIU Wei said that the China Capital Market Forum is one of the important academic brands of Renmin University of China. For 26 years, it has insisted on combining its academic advantages with the needs of national economic and social development, combining academic strength with social strength, and is committed to promoting innovation of finance and capital market theory research to serve the formulation of financial supervision policies and the development of China’s capital market. At the historical intersection of the “two centenary” goals, this forum focuses on “new concepts, new ecology, and new patterns”, starting from the essence of financial services for the real economy, facing the new dual-cycle development strategy, and developing in line with the new concept, new ecology and new pattern of the capital market. LIU Wei expressed the hope that school’s theoretical research on the capital market will become an important reference for financial regulators, financial research institutions, and financial industrial institutions to carry out related work, and make new contributions to the development of the country’s capital market.

After the opening speech, WU Xiaoqiu released the keynote report “China’s Capital Market: From History to the Future – An Analysis on the “Third Model”. He explained the report from three aspects: “Historical Exploration of China’s Capital Market”, “Theoretical Knowledge of China’s Capital Market” and “New Exploration of China’s Capital Market: The Third Model”. Focusing on the third model of new exploration in China’s capital market, WU Xiaoqiu put forward three views: First, China’s financial system must be adjusted, comply with objective laws, attach importance to top-level design, serve real enterprises and technological innovation, and the future will be the financial system dually dominated by both market and banks. The second is to promote the integration of the civil law system and the Anglo-American legal system, and fully consider local factors to reduce the contradiction and exclusion between the two legal systems; the third is to promote the construction of the rule of law with transparency as the core, to achieve “system establishment, non-intervention, zero tolerance”, and carry out construction from the market, supervision, investor protection and other aspects.