On June 16, 2022, the Macro-Finance Salon (No. 187), co-hosted by the International Monetary Institute (IMI), Renmin University of China, Zhejiang University International Business School (ZIBS) and Beijing Frontier Institute of Regulation and Supervision Technology (FIRST), was held online. The theme of this salon was “The Boundary of Big Data Usage: Analysis on Financial Market and Real Economy”. Qiu Zhigang, Senior Research Fellow of IMI and Associate Professor at School of Finance, RUC, delivered a keynote speech. This salon was chaired by Li Yuanqi, Assistant Professor at ZIBS and Assistant Dean of FIRST.

Assistant Professor Li Yuanqi pointed out that the 14th Five-Year Plan period is a crucial period for China to transform from industrial economy to digital economy, which puts forward new requirements for the development of big data industry. The industry will enter a new stage of integrated innovation, rapid development, deep application and structural optimization. Therefore, it is worth going into depth about how the big data industry can boost the rapid development of the real economy.

The starting point of Professor Qiu Zhigang’s research is that the boundary of big data usage determines data accuracy. He used a four-period model to connect the interactions between social planners, capital market, providers of capital and real economy, which demonstrated clearly the main conclusion: traditional information disclosure impacts the accuracy of big data and thus affects the efficiency of financial investment in the real economy. At the same time, Professor Qiu also discussed other relevant topics such as data trading, noise, data right confirmation, NFT, and digital financial inclusion, getting students to think further about the research and application of big data.

In his lecture, Professor Qiu systematically introduced the development of big data, summarized the research directions of existing literature, and shared and explained in detail his latest research results, which had both academic and practical significance. Through this lecture, the audience could not only meet excellent academics and learn about frontier research results; but also deepen their understanding and knowledge of big data and fintech, and enhance their academic literacy and professional competence.