On January 10, Wang Hongzhang, former chairman of China Construction Bank attended the 82nd Theme Salon of Financier Club and the 25th "Shanghai Financier Salon" as a guest and gave the speech "Risk - the Eternal Theme of Bank Operation". This session of Salon was hosted by Prof. Luo Yuding, Executive Dean of College of Business, Shanghai University of Finance and Economics (SUFE).

The history of bank is a history of continuous gaming between finance and risk, and also a history of going through thick and thin together, never leaving or giving up. Starting from the financial risk cases of banks in New Zealand, Paris and Japan, Wang Hongzhang vividly explained the course of China's financial risks and reviewed all previous national financial work conferences.

Based on the above review, he summarized some rules: Firstly, financial risks fluctuated with the economic cycle with different manifestations. Profound analysis and understanding of the generation, development and causes of financial risks should be conducted. Secondly, the concentration of financial risks aroused great attention from the Central Government and financial risks had risen to the national level. Thirdly, regulatory responsibilities were adjusted at national financial work conference every time. Hence the supervision should be first reflected when financial risks arose.

On the current financial risks, he shared four enlightenments: Firstly, the financial transformation of banking industry in China was in the ascendant, and the overall risk transformation thus driven was imminent. Secondly, business strategy and model innovation emerged in an endless stream, while risk management was lagged behind "streaking". Thirdly, banks shall carry out comprehensive risk transformation in terms of strategy, governance, process, talent and system model. Fourthly, there were lucrative rewards upon the success of risk transformation. There was no reward without risk. Reflecting the banking industry in China today, it had not yet experienced a complete test of financial crisis. The vast majority of employees had not received systematic professional risk management training or had major financial crisis handling experience, which was exactly where remedial classes were urgently needed.

Talking about the understanding of regulation, he believes that there was no best international supervisory system. The suitable regulatory system shall be analyzed and studied. Regulatory philosophy should be correct, and regulatory responsibility should be clearer, which was to ensure the stable operation of financial services. The regulatory objective was to protect the interests of depositors, investors, insurers and trustees and to fulfill the regulatory duties in line with this goal.