On December 3, the Macro-Finance Salon (No. 219), co-organized by the School of Finance and Economics and the National Finance Academy of Renmin University of China (RUC), and hosted by IMI, was successfully held, with the theme being 'Prevention and Resolution of Financial Risks and High-Quality Financial Development - Interpretation of the Spirit of the Central Financial Work Conference'. Gao Xingwei with the Party School of the Central Committee of CPC (National Academy of Governance) shared his opinions on the theme. Lin Nan, deputy director of the Research Group of International Finance and International Economy of the Institute of Finance of the Chinese Academy of Social Sciences (CASS) and associate research fellow; Lu Dong, associate professor of the School of Finance of RUC; and Wang Jian, chief analyst of the financial industry of Guoxin Securities, participated in the discussion. The seminar was presided over by Guo Biao, Assistant Dean of the National Finance Academy and professor at the School of Finance of RUC.

Prof. Gao Xingwei gave his keynote speech. Based on the core concept of building a strong financial country, he gave an in-depth explanation of the key points of the spirit of the financial conference held by the central government, focusing on three key areas: the basic connotation of a strong financial country, the prevention of financial risks, and the promotion of high-quality financial development through financial supply-side structural reform.

First, Prof. Gao reflected on the basic connotation of a strong financial country. He reviewed General Secretary Xi Jinping's important discussions on China's financial development over the past decade, and systematically sorted out the three-dimensional positioning and three core tasks of finance in the economy. Then, he summarized the basic connotation of a strong financial country in terms of two groups of keywords, i.e., people, inclusiveness and security, marketization, internationalization and technology-orientation.

In addition, Prof. Gao emphasized that financial risk prevention is the eternal theme of finance. He summarized nine important financial risks, such as the risk of the impact of the new asymmetric power of the US and the US dollar on China, the financial risk caused by real estate, the financial risk caused by local government debt, etc., and profoundly pointed out that the prevention of financial risk is an indispensable task of financial work.

Finally, Prof. Gao put forward the strategic idea of promoting high-quality development of finance through financial supply-side structural reform. He emphasized that the essence of this reform is to realize the integration of financial goals, motivation and bottom line, and put forward specific measures to promote the 'five-dimension reform', including promoting the strategy of RMB internationalization, strengthening the reform of capital market, building a modern central bank system, adopting an inclusive financial strategy, and strengthening financial supervision.

Translated by Zheng Xiaosu