On December 27, Bank of China Institute of International Finance and the Financial News Press jointly held a conference for the "Top 10 International Financial News in 2012". Wang Yongli, Executive Vice President of Bank of China, and Wang Yang, Chairman of the Financial News Press were present and delivered speeches.
Wang Yongli said in his speech that, this annual event has been jointly organized by BOCIIF and the Financial Times Press for 16 years and it is a witness of the unusual course that China and the global economy have gone through together. The conference for this year is of great significance for further expanding the influence of this event and promoting the value of the research brand.
Wang Yang said that, over the recent years, the "Top 10 International Financial News" event has caught increasing media attention and social awareness, and become a platform for reviewing successes and failures of the global financial industry and thus for learning from past lessons and experience. He hoped the two parties to further strengthen the cooperation and continue to increase the professionalism and influence of the event.
After the discussions and voting by directors of the Institute of International Finance and well-known experts and scholars, the "Top 10 International Financial News in 2012" are: the European stability mechanism took effect and the euro-area financial "firewall" was consolidated; the U.S. fiscal cliff approaches and the global economy may be dragged down; developed economies launched quantitative easing measures one after another and the worldwide monetary-policy stimulus increased; Japan's debt hit a record high and the country's political wrangling led to a threat of financial crisis; China released the "12th Five-Year Plan" for finance and the financial market reform is speeding up; the HKMA brought intervening measures to the market for several times and financial risk caused concern; huge loss of JPMorgan Chase was revealed and led to reflections on global financial regulation; a scandal of Libor manipulation was revealed and the pricing criteria on the financial market was questioned; negotiations on the "Regional Comprehensive Economic Partnership" started and the Asian FTA cooperation accelerated; Singapore and London are vying to become the offshore financial center of the Renminbi, the internationalization of the Renminbi entered a new stage.
At the conference, the Top 10 News were reviewed by Jing Xuecheng, director of the China Harmony Strategy Research Alliance, He Liping, professor of the Beijing Normal University, Zuo Xiaolei, chief adviser to the president of China Galaxy Securities and other experts.