On November 13, China Merchants Securities (CMS) held the 2012 CMS Forum themed "Seeking Enlightenment: China's Economy" in Guangzhou Four Seasons Hotel.

The elites in the political, commercial and academic circle were invited to the forum. They were Chen Yunxian, vice-governor of Guangdong Province; Qin Xiao, chairman of Boyuan Foundation and former Chairman of the board of China Merchants Group; Cao Yuanzheng, chief economist and vice-president of Bank of China; Ding Anhua, vice-president and chief economist of CMS; Liu Jipeng, director of the Capital Research Center of China University of Political Science and Law (CUPSL); Lu Jun, vice-president of the Lingnan College of Sun Yat-Sen University; Qu Hongbin, managing director of HSBC Asia Pacific and chief economist of HSBC Greater China; Chen Ping, deputy director of the Finance Office of Guangzhou; Yan Yan, chief partner of SAIF Fund; Li Su, chairman of Hejun Vanguard Group; Li Zhengxi, chairman of Guangzhou Enterprises Mergers and Acquisitions Services; Ye Junying, chairman of E Fund Management Co., Ltd.; Xiang Anda, chairman of the financial service industry in Greater China and global partner of Bain Capital. In addition, the senior management of CMS such as chairman Gong Shaolin, president and CEO Wang Yan, chairman of the Board of Supervisors Jiang Luming, vice-president Sun Yizheng and Guo Jian, and president assistant Kong Dewei, as well as more than four hundred high net worth individuals (HNWIs) of CMS attended the forum. The vice-governor Chen Yunxian, based on domestic and international situations, pointed out in his speech that the financial reform and innovation in Pearl River Delta would come to a "great time" next year and the financial industry would be expected to develop under the five measures of international finance, industrial finance, science and technology finance, rural finance, and people's livelihood finance.

vice-governor，Chen Yunxian delivered a speech

Mr. Qin Xiao pointed out in his keynote speech that China's economy was at a crossroad and the fundamental factors supporting the traditional economic development mode were changing. First, as China has stepped into the mid- and late-period of industrialization, the "overtaking" economic development mode that relies on factor input and economies of scale is no longer applicable. However, China has not been well prepared for entering the "innovation-oriented society" in consideration of its current system environment, human resource status and technical level. Second, the macro-economy of China is influenced by multiple significant factors such as the end of the limitless supply of cheap labor forces, the coming of an aging society, the elimination of "demographic dividend", and the great impact of financial storm on export demands.

Chairman of Boyuan Foundation and former Chairman of the board of China Merchants Group, Mr Qin Xiao made a key note speech

Liu Jipeng also delivered a speech themed "Top Recreation of a Fair, Just and Efficient Stock Market".