On December 19, 2020, the IIDPF Summit on New Technology, Big Data and Public Finance and Taxation, jointly organized by the School of Public Finance and Taxation of ZUEL and the Innovation Base for Income Distribution and Public Finance was successfully held near the beautiful Xiaonan Lake. This summit was broadcast live. The summit brought together experts and scholars from politics, business and academia, where in-depth exchanges and discussions on how new technologies and big data can serve the development and innovation of the fiscal and financial system were presented. The event was a wonderful academic feast for the guests and the online audience.
Leaders and guests attending the summit includes: Wu Tao, Vice Director, Information Network Centre, Ministry of Finance of the People’s Republic of China; Li Zhijun, President of Management World Magazine; Zhang Bohui, President's Chair Professor, School of Management and Economics, The Chinese University of Hong Kong (Shenzhen); Professor Guo Feng, School of Public Economics and Administration, Shanghai University of Finance and Economics; Xu Wei, General Manager of Hubei Branch, Beijing DASY Tech; Professor Yang Canming, President of ZUEL; Professor Gong Qiang, Dean of Wenlan School of Business, ZUEL; along with leaders of relevant functional departments, faculty deans and lecturers. Delegates attending via video conference were: Prof. Zheng Zhiming, academician of the Chinese Academy of Sciences & blockchain expert; Mr. Che Pinjue, Partner of Sequoia Capital China Fund.
In his speech, Professor Yang firstly extended a warm welcome to all the leaders and guests and expressed his heartfelt gratitude to all of them for their long-standing support. He pointed out that the Fifth Plenum of the 19th CPC Central Committee had innovatively proposed to "establish a public fiscal and financial system". The transformation of new technologies is driving the transformation and upgrading of human production and lifestyles and national governance. With the development of modern technology and the use of big data, we need to fully explore the new technologies and the public financial and taxation system, the modern economic system, the national governance system and the modernisation of governance capacity.
The morning keynote session was chaired by Professor Zhang Kezhong, Vice Director of the Innovation Base for Income Distribution and Public Finance. By sharing the views on the strategic significance of blockchain and the key technologies of the underlying architecture, Academician Zheng gave a detailed explanation of each of the four aspects: strategic significance, core dilemma, technical path and policy recommendations. He believes that the development of blockchain has great strategic significance as an "economic development accelerator" and "accelerator of the modernisation of national governance capacity". Vice Director Wu Tao shared the exploration of financial big data technologies and applications from the perspective of the political community. The data middle platform module, the selection of a platform for financial big data and application scenarios were described in detail respectively. He proposed to accelerate the application of big data in macroeconomic forecasting, financial income and expenditure analysis, financial tax management, debt risk prevention and treasury management. Professor Zhang Bohui's presentation was entitled "Does Express Delivery Run ahead of Stock Price?". Professor Zhang pointed out that as the veracity of many listed companies' disclosures is in doubt, there is a real need to develop alternative data and to understand the true financial position of companies ahead. Based on this, Professor Zhang creatively proposed five major approaches to using big data for a multi-dimensional and multi-oriented understanding of listed companies' information.
The roundtable session was chaired by Yang Guochao, Yang Guochao, Director of the Big Data Research Centre of the Innovative Base of Income Distribution and Public Finance. The roundtable guests made successive presentations, including Wu Tao, Vice Director, Information Network Centre, Ministry of Finance of the People’s Republic of China; Professor Gong Qiang, Dean of Wenlan School of Business, ZUEL; Zhang Bohui, President's Chair Professor, School of Management and Economics, The Chinese University of Hong Kong (Shenzhen); Professor Guo Feng, School of Public Economics and Administration, Shanghai University of Finance and Economics; Xu Wei, General Manager of Hubei Branch, Beijing DASY Tech; Professor Zhang Kezhong, Dean of the School of Public Finance and Taxation, ZUEL; Professor Wu Lei, School of Public Finance and Taxation, ZUEL. There were active exchanges and interactions between the speakers and the audience on the topics of "Application of Blockchain and Big Data", "Role and Impact of New Technologies on Public Finance and Taxation", "Data Sharing and Ethical Margins", "New Technology Changes and Income Distribution" and "Technology on the Ground". The insights of the distinguished guests brought innovative thinking and perspectives on the organic integration of big data, finance and income distribution.
The afternoon keynote session was chaired by Professor Sun Qunli, Vice Director of Innovation Base for Income Distribution and Public Finance. Mr. Che Pinjue, Partner of Sequoia Capital China Fund; Professor Gong Qiang, Dean of Wenlan School of Business, ZUEL; Professor Guo Feng, School of Public Economics and Administration, Shanghai University of Finance and Economics; Xu Wei, General Manager of Hubei Branch, Beijing DASY Tech; Professor Wu Lei, School of Public Finance and Taxation, ZUEL have given speeches on the topics "Digital Transformation of Enterprises", "Digital Supply Chain Finance Mechanisms", "Social Media Channels for Share Price Spillover Effects", "Exploring Application Scenarios of Fiscal Big Data - Debt Risk Management" and "Artificial Intelligence and Income Distribution".
Zhongnan University of Economics and Law is the leading university in China in the field of finance and taxation. Innovation Base for Income Distribution and Public Finance is the national key research platform in this field. We focus on social hotspots and respond to social concerns. We earnestly fulfil the mission entrusted to us by the state, respond to the major strategic needs of the country and actively build a high-end platform for the exchange of academic information. In this summit, we earnestly adopt the views of experts and scholars, hoping to gather the power of talents, contribute new knowledge of finance and taxation, and use our profession to help the high-quality development of society and serve the people.