SUSTech establishes first Institute of Enterprise and Financial Risk in Shenzhen
Adrian Cremin | 04/23/2023

The Industrial Finance and Risk Management Seminar and the unveiling ceremony of the Institute of Enterprise and Financial Risk were recently held in the College of Business at the Southern University of Science and Technology (SUSTech).

Jie HE, Director of Shenzhen Local Financial Supervision Bureau, Zhiyi HE, Chief Expert of the Institute of Global Industry of Tsinghua University and Adjunct Professor at SUSTech, Li JIN, Vice President and Acting Dean of the College of Business at SUSTech, Shuxun WANG, Head of the Department of Finance at SUSTech and Director of the Institute of Enterprise and Financial Risk, as well as many national-level think tanks, experts, and scholars from scientific research institutions and industry representatives attended the event.

Vice President Li JIN said that accelerating the implementation of the innovation-driven development strategy and promoting the deep integration of the innovation, industrial, capital, and talent chains are laid out in the report of the 20th National Congress of the Communist Party of China (CPC) for high-quality economic development. For the local financial environment, Shenzhen’s 14th Five-Year Plan for Science and Technology Innovation also proposes to build a “20+8” industrial cluster.

In such a complex economic environment, risk management is to systematically monitor and evaluate risks through the establishment of a scientific management mechanism, so as to ensure the healthy development of enterprises.

SUSTech has bought together a large number of experts and scholars in the fields of science and technology, finance, and risk management. The research on industrial finance and risk management has also attracted much attention, and it is hoped that the establishment of the Institute of Enterprise and Financial Risk can promote the innovation and development of China’s financial industry and lead reform in the field of finance.

Jie HE said that Shenzhen has become a benchmark city of “technology + capital drive” in terms of financial practices and is also responding to the country’s “Belt and Road” efforts to provide a comprehensive policy and development opportunities for enterprises to go global.

The government will also cooperate closely with universities in the field of financial research to jointly promote the high-quality economic development of Shenzhen.

Zhiyi HE analyzed the macro scale of industrial development from a global perspective, and put forward recommendations on how to build and grow Chinese enterprises into world-class organizations. He noted that they should improve their quality of development, enhance innovation leadership, and international competitiveness.

Didier Sornette, Chair Professor at SUSTech and member of the Academia Europaea, congratulated the University on the establishment of the Institute of Enterprise and Financial Risk through a video link.

He said that finance should not be limited to components such as stocks and investment, but should become the key to industrial development. Therefore, it is necessary to design new tools through financial innovation to avoid risks and encourage capital to take risks and participate in innovation.

Director Shuxun WANG said that risk management had become the “lifeline” of enterprises. In today’s increasingly fierce market competition, risk management has become an important task for enterprises, and how to effectively carry out risk management has become an important issue. Therefore, it has become necessary to predict, prevent, and respond to various possible risks through risk management strategies to ensure the healthy development of enterprises.

The establishment of the Institute of Enterprise and Financial Risk is an important sign that SUSTech’s interdisciplinary teams in business and finance have entered a new stage of development. The institute will provide enterprises with first-class industrial finance and risk management research support, and help enterprises formulate scientific and risk management strategies.

Director WANG also emphasized that the institute would bring together many international high-level talents, and through the efficient combination of government, industry, academia, and research, it would help small and large enterprises to move towards internationalization and integrate into the global industrial chain, in regions such as Southeast Asia, Europe, etc.

Vice President Li JIN believes that the research team from the College of Business at SUSTech has professional knowledge and practical experience, which can provide enterprises with first-class industrial finance and risk management research support, and help them to formulate scientific and risk management strategies.

At the same time, Vice President JIN said that the institute would explore new financial models and products, promote the innovation and development of the country’s financial industry, and lead the reform of the financial sector.

2023, 04-23
By Adrian Cremin

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