2022 Meeting in Laoshan Mountain Finance and Rule of Law Forum was successfully held in Jinjialing Financial Hub Qingdao on July 9.

Bright Prospects for Finance and Rule of Law

Mr. Li Fei, Director of the Constitution and Law Committee of the National People's Congress, pointed out in his video speech at the opening ceremony that finance is the core of the modern economy and the blood of the real economy. A number of hard-working and promising legal experts, since the establishment of the Legal Research Center of the Bund Financial Innovation Pilot Zone in November 2013, have joined hands with financial experts and entrepreneurs to focus on the frontier topics of the financial market and development of the rule of law in order to introduce replicable practices to more small and medium-sized enterprises to promote the development of the real economy. This deserves high praise.

Mr. Wan Zhendong, Secretary of the CPC and Director of Qingdao Bureau of Justice, Mr. Liu ling, Deputy Director of Laoshan District People's Government, and Mr. Li Zhiqiang, 30th President of the Inter-Pacific Bar Association delivered speeches respectively.

Legal experts, entrepreneurs and financiers present spoke highly of the fruitful results achieved in the three years since the Meeting in Laoshan Mountain Finance and Rule of Law Forum was held. At the Forum, the launch ceremony of The Legal Research on the Bund Financial Innovation Pilot Zone (2022 edition) was held, the latest research results of implementing Xi Jinping's rule of law thought were released, and the award ceremony for the winners of the 2021 financial market classic cases was held. Twenty four cases including Shanghai Dazhong Public, at the time of thirty years, to make good use of financial tools to develop its main business, Fortune 500 company Shanghai Construction Group issues 4 billion yuan of medium-term notes, and China Mobile sets the record for the largest domestic IPO in recent years were selected as 2021 classic cases in the financial market. Five entrepreneurs, financiers and legal experts including Mr. Wang Da, Mr. Wang Chenghe were appointed as researchers at the Legal Research Center of the Bund Financial Innovation Pilot Zone.

Mrs. Zhang Ning, famous financial expert, Mr. Ge Shaozheng, General Manager of the Investment Banking Department of Orient Securities, Mrs. Ding Yan, Professor of the Law School of Qingdao University, Mr. Zhang Hongguang, Vice President of Shandong Notary Association, Mr. Sun Fanglong, Vice President of Qingdao Civil and Commercial Law Research Association, and other experts delivered speeches respectively on financial dispute resolution, key points of compliance in corporate financing and listing, legal regulation of bond default risk, non-litigation thinking in the financial rule of law, practices and development of compliance system construction in finance.

Shanghai-Qingdao Cooperation Leading to Great Achievements

Experts present pointed out that the 20th National Congress of the Communist Party of China will be held in the second half of this year. Under the leadership of the CPC Central Committee and the State Council, Shanghai has basically become an international financial center commensurate with the international status of the RMB and Chinese comprehensive economic strength, and is moving towards an upgraded version. As an opening up coastal city, Qingdao takes the initiative to benchmark the development of Shanghai as an international financial center, enhances the ever-improving business environment, and attracts a number of leading enterprises and institutions in the modern service industry to settle down to get a cluster effect. Since its establishment in Jinjialing Financial Cluster on December 19, 2020, the Qingdao Branch of the Legal Research Center of the Bund Financial Innovation Pilot Zone has been committed to researching the deep-seated problems that need to be solved in the finance and rule of law and put forward legislative suggestions. Such replicable and popularized Shanghai experience has been affirmed by the relevant state departments, and the cooperation between Shanghai and Qingdao on the rule of law in finance is full of promise.

It is reported that this Forum is supported by Qingdao Bureau of Justice, Qingdao Arbitration Commission, Laoshan District People's Government, Administration Committee of Jinjialing Financial Cluster, organized by the Bund Financial Innovation Pilot Zone Legal Research Center, Qingdao Enterprise Evaluation Association, Shanghai Equity Investment Association, Shanghai Association of International Service Trade, and co-organized by Qingdao Association of Small-Medium Enterprises and China Merchants Bank Qingdao Branch.