Xinhua News Agency, Beijing, July 3 (Reporter Gai Boming)

Patrick Bolton, a professor at Columbia Business School and former president of the American Finance Association, recently came to Beijing Fund Town to share a special report on "Ten-Year Financial Supervision in the Post-Crisis Era" with representatives from settled enterprises. He is the 46th internationally renowned financial scholar to visit Beijing Fund Town in the past year.

As the two-way opening of China's asset management market is deepen further and a series of opening-up policies are implemented, more qualified overseas institutions are gradually carrying out private securities investment funds management business in China. China's cooperation and exchanges with other countries in the field of fund are getting closer and closer, pushing the overall development pattern of China's fund industry to be more diversified, more standardized, more professional and more open, which plays a more important role in serving the real economy.

Taking fund as the leading industry, the Beijing Fund Town is a small town with Chinese characteristics located in Fangshan District of Beijing. World-renowned financial scholars are invited to the Fund Town to promote exchanges and cooperation between China and the world's finance industry, building an influential international fund industry cluster.

Up to now, many world-renowned economists have successively entered Beijing Fund Town, including Kaushik Basu, former chief economist of the World Bank and professor of economics at Cornell University in the United States, and Nobel laureate Jean Tirole.

"The reason why a small town can attract international famous financial scholars to visit is that on the one hand, the Fund Town hopes to strengthen its services to settled enterprises in order to make them know more about the development trend of international finance; on the other hand, it also reflects the interest and concern of these financial scholars toward China's fund industry." Wu Lei said, deputy director of the management committee of Beijing Fund Town.

By the end of May 2019, Beijing Fund Town has had 1,222 fund institutions, with over 178.68 billion yuan of a cumulative asset under management. It is a large-scale and influential fund industry cluster in China.