Wednesday, July 25, 2018

Shenzhen sets up energy finance lab


A ceremony was held yesterday to mark the official inauguration of the Energy Markets and Energy Finance Lab.

AIMING to integrate energy resources and the financial markets, the Energy Markets and Energy Finance Lab was officially inaugurated at Shenzhen Finance Institute in Futian District yesterday afternoon.

Xiong Wei, director of Shenzhen Finance Institute, said in an opening speech yesterday that energy is a key factor for a country's economic development and the development of energy finance will directly affect a country's energy safety and economic development.

"China is the largest country of energy consumption, but has a large distance to catch up with some developed countries in terms of studies in energy markets and energy finance, therefore the lab is expected to fill the gap with researches in designing rules, building platforms, tailoring financial products for power markets and other energy markets," said Xiong.

Zhao Junhua, assistant dean of the School of Science and Engineering of Chinese University of Hong Kong-Shenzhen (CUHK(SZ)) and one of the directors of the lab, said the lab was established to assist the Shenzhen government in making energy-related policies and study micro markets to provide services for energy companies.

"Target markets of the lab include the carbon market and the electricity market as well as the renewable energy market, all of which are likely to be reformed in the future," said Zhao.

According to the director, the lab has cooperated with some energy companies in Shenzhen and the Pearl River Delta region. With support from the Shenzhen government, Shenzhen Finance Institute is going to promote the development of some local energy enterprises.

"We are going to design a new energy market through economic engineering," said Ye Lixin, an economics professor and dean of Harmonia College of CUHK(SZ) who dedicates to market design. The professor said that the market design tailored by the lab aims to increase efficiency and promote fairness in transactions as well as promote the rational allocation of resources.

Ye also said that the lab would invite a group of researchers studying in fields like engineering, economics and finance from home and abroad to join it.


Source:Shenzhen Daily

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