On July 17, the ZUFE 7th Forum for Young and Middle-Aged Finance Scholars, with the theme of "Common Prosperity and Governance in Finance and Taxation," was held at the Xiasha Campus of ZUFE. Principal Xiaomin Zhong participated in the opening ceremony and delivered a speech. Vice President Yongyou Li presided over the keynote speech ceremony. More than 60 experts and scholars, from government departments and universities, attended the forum.
Zhong pointed out in his speech that common prosperity was the unswerving original aspiration of the Communist Party of China (CPC). Achieving common prosperity was not only an economic issue but also a major political one, which was related to the foundation of the CPC's governance. He elaborated on what the essence of common prosperity was, why Zhejiang was chosen as a demonstration zone for the idea of common prosperity, how local governments promoted the course of common prosperity, and how local governments’ experience in achieving common prosperity could be learned and spread nationwide.
Experts here included Qiao Wang, former secretary of the Party Committee of Jiangxi University of Finance and Economics (JUFE) and chief expert of JUFE's Research Center of Finance and Taxation, Jianhua Zhang, dean of the School of Economics of Huazhong University of Science and Technology (HUST) and Zhang Peigang Development Research Institute, distinguished professor Guanghua Wan, dean of the Institute of World Economy of Fudan University (IWEFU), Ximing Yue, professor of Renmin University of China and also a Yangtze River scholar conferred by the Ministry of Education of China, and Wenlin Fu, chair professor of Shanghai University of Finance and Economics (SUFE). They also made keynote speeches respectively entitled "Promoting Common Prosperity Should Highlight the Citizenization of Agricultural Transfer Population--Based on the Financial Perspective of Supporting Zhejiang Common Prosperity Demonstration Zone," "From Being Moderately Well-off in an All-round Way to Pursuing Common Prosperity: A New Mission of Economics Research on China's Development," "Some Thoughts on Common Prosperity," "Income Redistribution Effect and Comparison of Two Income Redistribution Policy Tools," and "Promoting Common Prosperity and Reform on Fiscal Distribution System: A Couple of Suggestions."
Experts and scholars at this conference conducted lively discussions and exchanges on topics such as "Financial System Designed to Promote Common Prosperity," "Financial System Design and Allocation of Production Factors," "Modern Financial Systems and China's Governance System," and "Tax Reform and Corporate Behavior".
Six excellent papers were evaluated and ranked during the forum. Of them, the article “China Retirement System Design: Thoughts Based on Redistribution Effect,” co-authored by Yi Zhang of SUFE and others, won the first prize. The second prize went to “Pareto Efficient Central Redistribution with Decentralized Redistribution” by Wenjian Li of Zhongnan University of Economics and Law and other co-authors, and “The Characteristics of Micro-Enterprises’ Investment Behavior and Macroeconomic Effects of Tax Cuts: A General Dynamic Equilibrium Analysis” by Lei Tian of ZUFE. Additionally the third prize was conferred to “Tax Sharing System, Regional Competition and Debt Expansion in Local Governments” by Wenfu Wang of Southwestern University of Finance and Economics and other scholars, “The Tax Gain of Reforming State-owned Enterprises” by Yongzheng Liu of Renmin University of China and other co-authors, along with “Research on the Neighborhood Effect of Income” co-authored by E Xie of Shandong University and others.
First sponsored by ZUFE in 2015, this forum aims to provide an advanced, in-depth, and interdisciplinary academic exchange platform for young and middle-aged finance scholars both at home and abroad to broaden their academic horizons and inspire their academic thinking. Based on Chinese experiences, it always upholds the principle of advancing exchanges among scholars and pursuing an academic spirit of freedom and openness, rigor and truth-seeking, and cooperation and sharing, by encouraging young and middle-aged scholars to explore the modernization path of China's financial system.