The special forum concerning the topic of "Guangdong's Financial Reform Innovation Amid International Financial Crisis" is held this morning, attracting 100 representatives from local finance affairs offices, central financial regulators stationed in Guangdong, and local financial enterprises.

Under the theme of "Guangdong's Financial Reform Innovation Amid International Financial Crisis" , The Governor's Advisors put forward some of suggestions on resolving financing difficulties of SMEs, developing multi-level capital market, using modern insurance mechanism to promote economic and social development, and deepening financial cooperation among Guangdong, Hong Kong and Macao.

Suggestions

CEO of Assicurazioni Generali and Generali Group proposed to innovate the financial services for SMEs and households, deepen financial cooperation between Guangdong and Hong Kong, and receive financial background service transfer from Hong Kong.

Chairman of Nomura Securities Nobuyuki Koga suggested to diversify the use of capitals through Employee Stock Ownership Plan, and to integrate the operation of labor and capital.

Senior Executive Officer of Mitsui Sumitomo Insurance Ichiro Iijima proposed to value and improve risk management and daily supervision of insurance companies.

Research Head of Standard Chartered Bank Wang Zhihao advised Guangdong to pioneer in implementing transaction of RMB foreign exchange derivatives.

President of PICC Group Wu Yan proposed to make full use of the role of insurance mechanism in social security, fund-raising, public service optimization, and the development of agriculture, the countryside, and the farmers.

President of China Merchants Bank Ma Weihua put forward systematic suggestions on four aspects including expanding financing channels of SMEs, strengthening financial support for industrial upgrading and independent innovation, and deepening financial cooperation between Guangdong and Hong Kong.

Chairman of Guangfa Securities Wang Zhiwei also made suggestions on how to use the capital market.

Head of the Finance Affairs Office of People's Government of Guangdong Province Zhou Gaoxiong introduced at the Forum Guangdong's fight against the financial crisis and its financial reform and innovation. He pointed out that the financial industry has not only played a supportive role in tackling global financial crisis, but also in realizing its healthy and rapid development.