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    DOCVIT News | Liu Guangchao, Director of Beijing DOCVIT Law Firm was Invited to Attend the First CF40 Jinjialing Wealth Management Forum

    Source:   Time: 2017-05-22 11:24:26  Author:

    On May 19, 2017, the first Jinjialing Wealth Management Forum hosted by CF40 was held at Qingdao and attended by nearly a hundred of authoritative persons, senior executives and academic celebrities from the People’s Bank of China, China Banking Regulatory Commission, China Securities Regulatory Commission, China Insurance Regulatory Commission, asset management institutions, financial technological companies, universities and research institutions, including Cai Esheng, former vice chairman of China Banking Regulatory Commission and President of Northern Finance Institute, Lai Xiaomin, Board Chairman of China Huarong Asset Management Co., Ltd., Huang Yiping, Associate Dean of National School of Development at Peking University, Liu Jianjun, Deputy Mayor of Qingdao Municipal Government and Wang Haiming, Secretary General of CF40. They discussed the new situation, new regulation and new trend of wealth management. Liu Guangchao, Director of Beijing DOCVIT Law Firm and Secretary General of Green Legal Global Alliance, was invited to attend the Forum and participate in discussions.

    In the Forum, Director Liu Guangchao said that, “wealth management seems to be the planning and allocation of funds and assets of individuals, families and institutions, and in essence, it is the management of wealth operation, maintenance and heritance strategy, channels, value and risks. Its emergence symbolizes the wealth accumulation to a certain extent brought by economic development as well as a new height of financial innovation centering on wealth management. Along with the continuous development of new economic situation and structure shift, wealth management experiences new changes: from the perspective of leading factors, it is shifting from regulation-led wealth management to the market-led wealth management; from the perspective of orientation, it is shifting from product-oriented wealth management to service-oriented wealth management; from the perspective of management mode, it is gradually shifting from random management to systematic management and from manual management to intelligent technology direction.”

    In terms of new regulation ideas under the new situation, Director Liu Guangchao said that, “the regulators shall first change the regulation thoughts, and shift from the rule regulation to the boundary regulation, fulfill “what cannot be done” from “how to do” and control the regulation yardstick and boundary. Second, the regulators shall shift from the behavior regulation to the information regulation, i.e. shift from “what should be done” to “who is doing and how about the result is”. Third, the regulators shall change the management subjects, and shift from segmented regulation to systematic regulation, and gradually transit from departmental management to national management. Fourth, from the perspective of management modes, the regulators shall shift from ex-post regulation to in-process and proactive regulation, i.e. shift from evaluation and handling to guidance and education. Last but not least, it shall make full use of the Internet techniques to fulfill the shift from manual regulation to technological regulation, i.e. shift from small-range local subjective regulation to big data intelligent objective comprehensive regulation.”

     

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