On May 26, the fourth High-level Forum on Financial Technology and Digital Economy Development hosted by BNUBS was successfully held in Yingdong Building Academic Hall.The theme of the forum is "Building a Strong Financial Country and Accelerating the Development of New Quality Productivity".Zhang Ying, Deputy Director of the Office of Financial Commission of the CPC Beijing Municipal Committee, Yin Zhichao, Vice President of Capital University of Economics and Business, Zhou Yonghong, Deputy General Manager of ICBC Technology Co., LTD., Xu Weijie, Vice President of Beijing Branch of Postal Savings Bank, Wang Yanbo, Deputy General Manager of Information Technology Department of Huaxia Bank, Duan Lihatan, Director of Innovation Product Department of Beijing National Fintech Certification Center, and Finance Institute of Tsinghua University Zhou Daoxu, director of the Security Research Center, and Zou Chuanwei, chief economist of Wanxiang Blockchain, attended the forum.Nearly 200 social and business representatives, teachers and students from schools participated in the offline forum. Jiang Jie, Associate Dean of BNUBS, presided over the opening ceremony.

Zhang Ying, Deputy Director of the Office of the Financial Commission of the CPC Beijing Municipal Committee, delivered a speech

In herspeech, Zhang Ying first introduced Beijing's achievements in digital economy and financial technology. In 2023, the added value of Beijing's digital economy reached 1,876.67 billion yuan, accounting for 42.9% of the regional GDP, and continued to show a healthy growth trend. The digital economy has become an important engine for Beijing's "steady growth and transformation", and its supporting role in the construction of Beijing's modern economic system has also become increasingly prominent. In the outlook for the future work, it is emphasized to strengthen policy support, adhere to the right innovation, encourage collaborative research, promote the application of scenarios, and train professional talents. Regarding talent training, we will increase support for the training of financial and computer integration professionals in Beijing Normal University and more universities, encourage enterprises and university scientific research institutions to jointly cultivate composite talents, increase the supply of high-level talents, and create a high ground for digital financial talent training.

Sun Zhijun, Secretary of the Party Committee of BNUBS, delivered a speech

In his speech, Sun Zhijun first reviewed the history of the past several forums and thanked the school leaders and the industry for their extensive support. Since the new quality productivity was first proposed, it has become the consensus of the whole society to promote industrial innovation through scientific and technological innovation, especially to generate new industries, new models and new momentum with disruptive and cutting

historical point of view, technological change and industrial revolution can not be separated from the corresponding financial system support, we must strengthen the construction of financial power, and promote the high-quality development of China's financial. Among them, the construction of financial power needs to have a strong talent team. BNUBS actively responded to the call of the state, accelerated the layout of disciplines and specialties in the fields of digital economy and financial technology, and improved the quality of personnel training through the cooperation mode of government, industry, university and research.

Hu Haifeng, Director of the Finance Department of BNUBS, presided over the keynote speech of the first half.

Zhou Yonghong, deputy general manager of ICBC Technology Co., LTD., spoke on the topic of AI big model, a new engine of financial new quality productivity. The rapid development of large AI models such as ChatGPT shows the strong potential and wide application prospects of generative artificial intelligence. The presentation introduces the concept, characteristics, applications and changes of AI grand models in a general way, while exploring the ethical and security challenges of grand models. Cost issues, technology integration, model bias and fairness issues, data privacy protection are all issues that need to be paid attention to and solved. Despite many challenges, the application of AI large models in the financial industry is still promising. From improving customer service levels to optimizing internal operational processes, from intelligent risk control to intelligent investment research, AI grand models are gradually penetrating into all aspects of the financial industry. In the future, with the continuous progress of technology and the continuous expansion of application scenarios, AI large models will play an increasingly important role in the financial field.

Xu Weijie, Vice president of the Beijing Branch of the Postal Savings Bank, made a speech about exerting financial power to help develop new quality productivity. With the characteristics of specialization, refinement, peculiarity and novelty, specialized and special new enterprises have become the key force to develop new quality productivity. The financial needs of specialized and special new enterprises show three-dimensional characteristics, including the coexistence of direct financing and indirect financing, financing needs and risk avoidance and wealth preservation and appreciation needs, financial needs and non-financial needs parallel. At present, the financial sector faces some challenges in serving specialized new enterprises, such as a lack of understanding of the organizational model of the enterprise, unclear understanding of the growth law of the emerging track, difficult valuation of patented technology, and inaccurate grasp of the quality of entrepreneurs and scientists. In order to solve these problems, financial institutions need to strengthen communication with specialized new enterprises, deeply understand their special needs and development laws, cultivate professional ability to see the future, increase the reform of the financial supply side, and actively explore new service models and products to meet the diversified needs of enterprises.

Wang Yanbo, AssociateGeneral Manager of the Information Technology Department of Huaxia Bank, introduced the new quality of financial productivity enabled by quantum financial technology in the era of digital economy. The speech emphasized the importance of digital economy, financial technology and quantum financial technology in the current era, and elaborated the practice and exploration of Huaxia Bank in related fields. With the development of digital economy, digital finance has gradually focused on the formation of inclusive digital finance, industrial digital finance and other major formats. In the field of industrial digital finance, problems such as small sample size and imbalance of positive and negative data samples are often faced when training intelligent risk control models. Using quantum neural network, quantum support vector machine, quantum synthesis minority oversampling technology and other technologies, we can realize efficient intelligent risk control model construction under the condition of very small training sample. As a typical representative of new quality productivity, quantum financial technology is expected to innovate and deepen the research and application of big data, artificial intelligence and other technologies, thus bringing new breakthroughs to the development of the financial industry.

Duan Lihatan, head of the Innovation Product Department of Beijing National Fintech Certification Center, gave a speech on the topic of thinking and practice to help do a good job in digital finance. The development of digital finance is the concrete embodiment of new quality productivity in the financial field. Workers are no longer limited to traditional financial practitioners, but include interdisciplinary talents who master financial technology skills; Labor materials have also expanded from traditional financial tools to advanced technological means such as big data, cloud computing, and artificial intelligence. The object of labor is more pointing to digital and informationized financial assets and financial services. At the same time, the development of digital finance is also inseparable from the support of new quality productivity, and only continuous innovation and optimization of workers, labor materials and labor objects can promote the sustainable development of digital finance. Beijing National Fintech Certification Center combined with the development needs of the financial industry, the construction of financial digital talent certification system, through the "theory + practical training", "certification + continuing education" to strengthen the financial digital talent application ability and professional quality, to help the industry talent echelon of high-quality construction.

The second half keynote speech was presided over by Hu Conghui, AssociateDean of BNUBS

Yin Zhichao, Vice President of Capital University of Economics and Business, shared with you the issues related to the digital economy and family risks in China. In the context of the rapid development of the digital economy, the government has launched a series of policies to promote the development of e-commerce in rural areas, among which the "e-commerce to the countryside" policy is quite representative, and the research focuses on how this policy affects the financial vulnerability of rural households. The results of the differential empirical study show that the rural e-commerce policy significantly reduces the financial vulnerability of rural households. Specifically, after the implementation of the "e-commerce to the countryside" policy, the family's financial security has been improved. Further analysis shows that rural households can reduce financial vulnerability by expanding sales channels and increasing income sources through e-commerce platforms. Therefore, in the future policy formulation and implementation, we should continue to pay attention to and use the potential of the digital economy to better improve the economic conditions of rural households.

The speech of Zhou Daoxu, director of the Financial Security Research Center of the Financial Technology Research Institute of Tsinghua University, focused on doing a good job in financial technology security and ensuring the development of new quality productivity. The development of fintech has given us unprecedented insight, powerful computing power, and unlimited possibilities for innovation. With the autonomous control of financial infrastructure and the overall acceleration of independent innovation in financial technology, security issues are becoming more and more important. We should not only pay attention to the security of core business systems, but also pay attention to the protection of data. At present, the state has issued a series of laws and regulations, while the financial regulatory authorities have also formulated a number of regulatory standards, and achieved remarkable results in improving the data management system. However, with the wide application of artificial intelligence in the financial field, the problems of artificial intelligence and human-computer interaction are becoming increasingly prominent, and model bias, the uninterpretability of data results, and privacy protection and ethical issues are gradually emerging. Fintech needs a safe anchor to move quickly through the storm.

Zou Chuanwei, chief economist of Wanxiang Blockchain, gave a speech on the structure of the personal data element market. Personal data has become an important resource and its potential value is self-evident. However, how to effectively circulate and use this data while protecting the privacy of individuals is a major challenge. In order to solve these problems, it is necessary to build a reasonable market structure of personal data elements. This architecture should take into account the common characteristics of the data as well as the characteristics of the individual data. To be specific, we can start from the following aspects: First, clarify the rights and interests of personal data; Second, strengthen personal data rights; Third, build the infrastructure to improve the transparency and efficiency of the data notification mechanism; Fourth, give play to the role of professional institutions and encourage professional institutions such as data trusts, data banks, and data brokers to participate in the market.

The speech by Jiang Jie, Associate Dean of BNUBS, focused on the overall price discovery ability of the carbon emission rights derivatives market. Based on the trading data of multiple carbon futures and carbon options simultaneously traded in the EU carbon market, which is the most developed carbon market in the world, she uses the common factor model and the information share model to conduct a quantitative analysis of the overall price discovery ability of the carbon emission rights derivatives market, and demonstrates the possible deviation between the local comparison and the overall comparison through numerical simulation. This study clarifies many common misunderstandings in the field of price discovery in the derivatives market, including failure to identify the spot price implied in the derivatives price, failure to analyze the derivatives market from the perspective of the futures and options market as a whole, and multiple contracts with different maturities. In order to better play the price discovery function of the derivatives market, China needs to consider including enough types and varieties of derivatives when launching carbon emission rights derivatives in the future.

Finally, Hu Conghui summarized the speeches of the forum guests. The first half shared practical experience and insights from industry guests, who used real cases to reveal the great potential and challenges of financial technology in practical applications. The second half shared the academic exploration of guests from universities and scientific research institutions, who drew the future blueprint of the fintech field through solid research and forward-looking thinking. This integration of academics and practice is the original intention of the forum - hoping to stimulate new thinking and promote innovation and development in the field of financial technology through cross-border exchanges.

A group photo

Contributed byLi Yaru

Edited by Jiang Jie

Reviewed by Sun Zhijun