Qian Wenhai, President of Zheshang Securities: Financial institutions should act as the "catalyst" for technological innovation.

On May 21, the 8th West Lake Conference hosted by Securities Times was held in Hangzhou. Qian Wenhai, Party Secretary and President of Zhejiang Merchants Securities, stated in his keynote speech that empowering new productive forces is not only an inevitable choice for the capital market to shift from "scale expansion" to "functional improvement," but also the responsibility of financial institutions to fulfill the mission of building a "financial powerhouse". Around the responsibility of financial institutions in building a "financial powerhouse," Qian Wenhai proposed three initiatives: first, to be the "catalyst" for technological innovation, actively establishing more long-term, specialized science and technology investment funds; second, to be the "connector" for industrial upgrading, promoting capital flow to advanced manufacturing and future industries, assisting in the transformation of traditional industries to high-end, intelligent, and green industries; third, to be the "co-builder" of the financial ecosystem, enhancing communication and collaboration with government departments, regulatory agencies, industry associations, and fostering a financial ecosystem conducive to the growth of new productive forces.