The symposium on market-oriented interest rates and the development of commercial banks was held at Shandong School of Development, Shandong University on June 30, 2012. Shaoan Huang, Executive vice dean of Shandong School of Development presided over the Symposium. Zhong Xu, deputy director of the People’s Bank of China and Zhaodi Wang, deputy director of Shandong bureau of China Banking Regulatory Commission attended the conference and delivered speeches. Financial News and Qilu Evening News also attended the symposium.
Executive vice dean of Shandong School of Development
Shaoan Huang firstly welcomed all to the conference and expressed the dean of Shandong School of Development, Yuqun Han’s greetings, and then he briefly introduced Shandong School of Development.
Zhong Xu, deputy director of the People’s Bank of China
Zhong Xu affirmed the tendency of market-oriented interest rates in his speeches. “China’s Twelfth Five-Year Plan specifies that the process of market-oriented interest rates need to be accelerated, and deposit rates in China have already became market-oriented interest rates in disguise,” Zhong Xu said. He talked about market-oriented interest rates’ impact on commercial banks as well, and affirmed the significance of this symposium.
Zhaodi Wang, deputy director of Shandong bureau of China Banking Regulatory Commission
Zhaodi Wang indicated that the global financial crisis is still there currently, financial regulation continues to heat up and economic situation is critical. Macro-control policy is vacillating while the banking credit takes a higher proportion. As a result, there is a strong theoretical and practical significance on the discussion of “market-oriented interest rates and the development of commercial banks”
Jian Wei, vice dean of Shandong School of Development
Jian Wei, vice dean of Shandong School of Development made a report on “international experience of market-oriented interest rates”. He demonstrated that the process of market-oriented interest rates in the U.S, the United Kingdom, Japan, Germany, South Korea and Latin American countries has a guiding meaning to China. The report also specified the supporting measures for market-oriented interest rates: deposit insurance system and mixed operation.
Xiaochun Wang, Chairman of Qilu Bank
Jingyao Chen, vice president of China Orient Asset Management Corporation
Xiaochun Wang, Chairman of Qilu Bank showed the market-oriented interest rates’ impact on small and medium size banks and reasons for these effects. Jingyao Chen, vice president of China Orient Asset Management Corporation considered that market-oriented interest rates can promote the enterprise reform and the development in banks, a gradual reform for market-oriented interest rates need to be taken in China. Representatives of other financial institutions also spoke at the symposium, they intensely discussed on the topic of “market-oriented interest rates and the development of commercial banks.”
Finally a summary was made by Shaoan Huang. He said that delegates have reached a consensus on some aspects: 1) the trend of market-oriented interest rates is certain, the direction of market-oriented interest rates is right. 2) All large, medium and small size banks should make proper adjustments under the background of the reform of market-oriented interest rates. 3) Restructure of banking industry.