On the afternoon of October 28th, 2024, a lecture titled "New Economic Pattern and Financial Transformation: Enlightenment from the System Design and Practical Experience of Japanese Trust Banks" was successfully held at Shanghai Jiao Tong University, hosted by Center for Japanese Studies, Shanghai Jiao Tong University (“the Center”) and the Shanghai Advanced Institute of Finance (“SAIF”) , Shanghai Jiao Tong University .
The lecture, themed "New Economic Pattern and Financial Transformation: Enlightenment from the System Design and Practical Experience of Japanese Trust Banks", attracted nearly 100 senior scholars and practical experts from related fields such as Shanghai Jiao Tong University (SJTU), Sumitomo Trust & Banking Co., Ltd, and other well-known financial institutions to gather and conduct in-depth discussions on the cutting-edge issues of the new economic pattern and financial transformation. Ji Weidong, University Professor of Humanity and Social Sciences and Director of the Center, and Zhang Yong, Associate Dean of SAIF, attended the forum and delivered speeches. Yoshida Yasuhiro, Director of Trust Development Department of Sumitomo Trust & Banking, and Zhang Chun, Professor of Finance in SAIF and Chair Professor of Huifu (ChinaPnR), delivered keynote speeches. Zhang Yaqiu, partner of Shanshan Venture Capital Co., Ltd., and Hu Jie, professor of practice at SAIF, Shanghai Jiao Tong University, director of the Fintech Innovation Base (Nanjing), and executive director of the Southeast Asia Center, co-chaired the forum. Akutagawa Yoshihisa, Special Director of Sumitomo Mitsui Trust Bank, and Tanigawa Hiroki, President of Sumitomo Mitsui Trust Bank Shanghai Branch, attended the lecture.
Ji Weidong first delivered a welcome speech. He said, "Absorbing trust business is an important feature of Japanese banks. Trust banks not only played a protective role during periods of rapid economic growth, but also played an important role in dealing with economic problems. The experience and lessons learnt from Japan’s dealing with economic downturns were of great significance to China."
Zhang Yong stated in his speech that in the process of China's economic transformation, the trust industry was gradually playing a significant role. However, the transformation road of China's trust industry was still long. How to play a greater role in the aging process for all types of people and how to promote the interactive development of the banking industry and economic entities were all issues worth exploring. "Japan's transformation experience accumulated in the economic and financial fields over the past 30 years will bring many useful references and inspirations to China's trust industry." He said that the theme of this Zhixiang Conference was "New Economic Pattern and Financial Transformation - Enlightenment from the System Design and Practical Experience of Japanese Trust Banks" was of great significance, and he hoped that SAIF could have more interaction with the Center in the future.
Yoshida Yasuhiro delivered a keynote speech on the theme of "Century History of Sumitomo Mitsui Trust Bank". He thoroughly reviewed the century-old development history of Japan's trust industry, and focused on analyzing how Japan's trust banks played a role in the economic development process during Japan's post-war period of rapid economic growth and bubble economy and ,how Japanese trust banks found new business in adversity after the collapse of the bubble economy. He expressed his hope to "use the power of trust to contribute to solving social and economic problems and contribute to creating a prosperous future for both China and Japan."
Zhang Chun delivered a keynote speech titled "The Logic of Innovation in China's Data Factor System", which focused on analyzing how artificial intelligence technology, data, and capital could be dynamically integrated with each other, and how data could be capitalized (included in the table). He also elaborated on how China should innovate in the data factor system and market system. He said, "The new combination model of capital and new factors is a historic opportunity for the world and its enterprises. In recent years, China has carried out a series of innovations in the data factor system and market by relying on the "quasi-public nature" and "multiple property rights" characteristics of data assets, as well as the "relative advantages" of history and culture. The Chinese model deserves in-depth study."
The roundtable discussion was hosted by Hu Jie. He and Yoshida Yasuhiro, Shen Wei Professor of KoGuan School of Law, Shanghai Jiao Tong University, Chen Xiaojiang, Vice President of Bank of Nanjing and a SAIF EMBA alumni, Shu Guang, President of Yunnan International Trust and a SAIF EMBA alumni, Qiu Yunping, International financial experts and former CEO of Deutsche Bank China, and Hu Zhe, partner of King & Wood Mallesons, held a lively discussion, sharing new concepts and perspectives on the design and implementation of the trust banking system, and exploring the strategic trends for the future development of China's banking industry.
Before the lecture began, Ji Weidong, University Professor of Humanity and Social Sciences of Shanghai Jiao Tong University and Director of the Center, Zhang Yong, Associate Dean of SAIF, Shanghai Jiao Tong University, and a delegation led by Akutagawa Yoshihisa, Special Director of Sumitomo Mitsui Trust Bank had a meeting and discussion. Both parties introduced their respective situations and expressed their expectations for further building communication and cooperation platforms to promote in-depth exchanges in the future. The speakers of this lecture attended the meeting and discussion together.
