On June 26, 2010, the “2010 Lujiazui Forum” themed “Structural adjustment and financial reform in the post-crisis era”, kicked off in Pudong Shangri-La Hotel. organized by Shanghai Municipal People’s Government, the People’s Bank of China, China Banking Regulatory Commission (CBRC), China Securities Regulatory Commission (CSRC), and China Insurance Regulatory Commission (CIRC), the Forum was attended by Yu Zhengsheng, Member of the Political Bureau of the CPC Central Committee and Secretary of Shanghai Municipal Party Committee; Chairman Liu Mingkang of CBRC; Chairman Shang Fulin of CSRC; Chairman Wu Dingfu of CIRC; Yi Gang, Vice President of the People’s Bank of China and Director-General of the State Administration of Foreign Exchange; Director-General Liu Yun’geng of the Standing Committee of Shanghai Municipal People’s Congress; Chairman Feng Guoqin of Shanghai Municipal CPPCC Committee; Wu Xiaoling, Member of the Standing Committee of the National People’s Congress and Deputy Director of the Financial and Economic Committee; Vice President Li Yang of China Academy of Social Science; and other domestic and foreign senior government officials and leaders of the global financial industry. They made lively discussions and statements on the construction of Shanghai International Shipping Center, the process of RMB internationalization, the building and innovation of financial system, and other hot issues.

At the second session

Yu Shicheng, Secretary and President of Shanghai Maritime University and Director of Shanghai International Shipping Institute (SISI), attended the second session of “Maritime Finance: Seeking Breakthrough via Innovation” on the afternoon of June 26. In his speech, President Yu pointed out that the rules of international shipping finance were derived from the Anglo-American Legal System, while the construction of two centers in Shanghai is just bottlenecked by the western rules. He held that China’s voices shall also be aired in the international shipping finance. President Yu recognized the enormous changes in China’s shipping and financial industries, and suggested Chinese factors and interests to be reflected in the formulation, modification and formation of the rules of the game.

President Yu Shicheng delivered a wonderful speech

The wonderful speech by President Yu and his interaction with the audience received good comments from more than 100 participants at the sub-forum. Some of his ideas were covered by Sina.com, Sohu.com, Eastday.com, ifeng.com and other major media.