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2023 World Wenzhou People’s Congress was grandly held on October 14th, gathering together nearly a thousand Wenzhou natives from various fields and backgrounds to reconnect with their hometowns and collaborate on development. WZBC played a significant role in organizing two sub-sessions during the congress, focusing on “Empowering Wenzhou’s High-Quality Development through Social Sciences” and “Overseas Chinese Entrepreneurs and Wenzhou’s Financial Development”.

The first sub-session, “Empowering Wenzhou’s High-Quality Development through Social Sciences”, also marked the inaugural meeting of Social Sciences Branch of World Wenzhou People’s Friendship Association. Professor Xie Jian, Director of Academic Committee of WZBC, hosted the session.

During this session, experts from WZBC, including Vice Dean Zheng Chengsi from School of Finance and Trade, shared insights on how to effectively empower Wenzhou’s development. Zheng Chengsi, emphasizing the role of financial innovation in shaping a new era for Wenzhou’s millennia-old commercial port, was appointed Deputy Secretary-General of Social Sciences Branch of World Wenzhou People’s Friendship Association.

The event was attended by prominent figures, including Wang Jiaohu, Deputy Director of the Municipal People’s Congress Standing Committee, Hu Jian, Member of Zhejiang Provincial Government’s Advisory Committee, Mei Yang, Deputy Minister of the Municipal Party Committee’s Propaganda Department, and Pan Xiaoyong, Secretary of the Party Committee of the Municipal Association for Social Sciences. Additionally, academic experts such as Professor Wang Sunyu from Tsinghua University, Associate Director Wang Chunguang from the Chinese Academy of Social Sciences’ Institute of Sociology, Professor Wu Songdi from Institute of Chinese Historical Geography of Fudan University, Zhang Kan, Dean of College of History and Cultural Heritage of Xiamen University, and Professor Ye Tuo from School of Public Administration of South China University of Technology, also addressed the gathering.

The second sub-session, “Overseas Chinese Entrepreneurs and Wenzhou’s Financial Development”, invited Zhang Xiaohong, President of China’s Listed Companies Forum, WZBC’s Vice President, along with Professor Yang Fuming from the School of Finance and Trade. The session was chaired by Professor Wang Zhanao, Dean of School of Finance and Trade, and focused on discussions about “Leveraging Overseas Chinese for Financial Support of Sweet Potato Economy” and “Transformation and Upgrading: Financial Assistance for Private Economic Development”.

During the event, Zhang Xiaohong proposed suggestions on how financial instruments can support Wenzhou’s real economy in overtaking competitors on the curve. He stressed that listed companies play a vital role in driving economic development and encouraged entrepreneurs to consider going public actively. Additionally, he highlighted the importance of harnessing the potential of overseas Chinese entrepreneurs to boost Wenzhou’s economic growth. Wenzhou Business College, known for its distinctive focus on business education, expressed its commitment to fully cooperating with Wenzhou government at all levels to carry out cadre training activities and help Wenzhou’s financial development.

Notable attendees included Chen Kuan, Deputy Mayor of Wenzhou; Lin Jianhai, former Secretary-General of the International Monetary Fund and current Executive Vice Chairman of the International Financial Forum; Huang Ruiyong, Director of the Entrepreneurial Spirit Research and Development Center at the Talent Exchange Center of the Ministry of Industry and Information Technology; Xu Jia, Professor and Director of the Department of Finance at the International School of Finance and Trade at Shanghai International Studies University; Ke Rongzhu, Distinguished Professor and Ph.D. Supervisor at Zhejiang University’s “Leading Talents in the Humanities” program; Pan Yixin, former Deputy Director of the Municipal Party Committee’s United Front Work Department; Chen Yunshan, President of Xingye Futures Co., Ltd., and other financial experts and scholars with ties to Wenzhou at home and abroad.

It’s worth noting that in 2021, Wenzhou was approved as a Pioneer Zone for Comprehensive Development of Overseas Chinese Entrepreneurs in China. The aim of this seminar is to leverage the platform of the World Wenzhou People’s Congress to strengthen connections among experts and scholars in the financial field at home and broad, to combine academic theories with practical aspects of Wenzhou’s economic development. The discussion delves into current challenges, future prospects, and potential policy recommendations that can contribute to Wenzhou’s financial reform and the advancement of its “Sweet Potato Economy”.

Since 2003, the World Wenzhou People’s Congress has been successfully held five sessions, uniting over 1,300 individuals with Wenzhou or Zhejiang origins around the world, signing agreements for 230 Wenzhou business projects, with a total investment of approximately 330 billion yuan. It has become a significant platform for connecting and collaborating with Wenzhou natives worldwide, contributing to the region’s development.

(Translator: Peng Shuni)