"China's High-Level AI School Explores Path to Financial Powerhouse with Renmin University Expert"
The High-Level Artificial Intelligence (AI) Research Institute's Communist Party Committee held a special party class on "Building a Financial Powerhouse: China's Path" on the afternoon of April 16. The session was led by Wu Xiaoyou, former vice president of Renmin University of China, current director of the National Financial Research Institute, and director of the China Capital Market Research Institute. Professor Wu, who is also a first-class professor, addressed the institute's entire party member faculty and students, as well as the first cohort of aspiring party members. The event was hosted by Li Yanli, the Party Secretary of the High-Level AI Research Institute. Wu Xiaoyou began by emphasizing the strategic importance of finance, describing it as the lifeblood of the national economy and a critical component of the country’s core competitiveness. He stressed that finance must serve the broader goal of China’s modernization and noted the profound changes in the international landscape. To advance as a financial powerhouse, China must focus on addressing specific issues and strengthen its strategic thinking. This involves building a financial system that is efficient, secure, open, and well-coordinated. Achieving such status is not only essential for high-quality economic development but also pivotal for enhancing the nation's overall competitive edge. Wu highlighted recent successes in financial market reforms, the internationalization of the renminbi, and the integration of technology into finance, all of which have laid a solid foundation for this goal. Wu delved into the pathways to becoming a financial powerhouse, emphasizing that marketization, legal systematization, and internationalization are the three key pillars. He argued that the capital market should be the central hub for resource allocation and that balancing financial openness with security is crucial to prevent systemic risks. By comparing the financial development journeys of the UK and the US, Wu underscored that a true financial powerhouse requires both a robust real economy and strong technological innovation, as well as transparent, fair, and trustworthy institutional frameworks. In his concluding remarks, Wu encouraged students to align their personal aspirations with national strategic needs. He urged them to leverage their specialized studies and embrace a broader perspective, aiming to become innovative talents with a global vision and a strong sense of national responsibility. Wu hoped that students would take on significant roles in serving the nation's technological self-reliance and contribute to the new journey of building a modern, strong country with their youthful intellect and dedication. Following the lecture, Wen Jirong, the executive dean of the High-Level AI Research Institute, shared his reflections with the students. He noted that both technological and financial prowess are essential for driving development and must be pursued in tandem. Wen emphasized that the construction of a technological powerhouse should not be confined to theoretical research and academic publications but should also focus on meeting major national demands and promoting substantial innovation and practical application. He advised students to capitalize on the multidisciplinary strengths of Renmin University, actively learning about finance, law, and other fields, and cultivating comprehensive capabilities through practical experiences.
