China Finance 40 Forum
TypeEconomic and financial policy think tank
  • Beijing
Chairman of Executive Council
Chen Yuan
Wang Haiming

The China Finance 40 Forum or CF40 is a Chinese think tank created in 2008 which specializes on issues of economic and financial policy. In January 2021, the University of Pennsylvania's Think Tanks and Civil Societies Program ranked CF40 as #8 top think tank in China, and #31 among think tanks in China, India, Japan and the Republic of Korea.[1]

History and development

Shanghai Finance Institute building in Huangpu District, Shanghai
Shanghai Finance Institute building in Huangpu District, Shanghai
Northern Finance Institute building in the former French Concession of Tianjin
Northern Finance Institute building in the former French Concession of Tianjin

CF40 was created on 12 April 2008 as a club of 40 finance experts under 40 years of age, thus its name. It was founded and developed by Wang Haiming, previously a journalist and chief editor at 21st Century Business Herald.[2] Chen Yuan is its founding chairman.

Based in Beijing, CF40 has also created the Shanghai Finance Institute (SFI) in Shanghai and the Northern Finance Institute (NFI) in Tianjin, in 2011 and 2016 respectively. Wang Haiming is Executive President of both institutes.[3] Both are located in buildings with connections to China's financial history: SFI in the former Shanghai branch of Yien Yieh Commercial Bank, and NFI in the former Tianjin branch of the Franco-Chinese Bank [fr].

CF40 organizes events and conferences, alone or in partnership with other think tanks that have included Bruegel[4] the Euro 50 Group, and the Peterson Institute for International Economics.[5]

One of CF40's flagship events is the yearly "Bund Summit" in Shanghai, a series that started in 2019. The 2020 Bund Summit[6] was the venue for Jack Ma's speech on financial regulation in China which has been widely associated with the suspension of Ant Group's initial public offering.[7]

CF40 publishes studies and a periodical journal, China Finance Review. Its yearly "Jingshan Report" is a reference publication on China's financial system.[8]

CF40-affiliated experts

As of early 2021, CF40 advisers include Chen Yulu, Hu Huaibang, Hu Xiaolian, Huang Qifan, Jiang Chaoliang, Jiang Jianqing, Lin Yifu (Justin Lin), Qin Xiao, Wu Jinglian, Wu Xiaoling [zh], Yi Gang, Yu Yongding, and Zhu Min.[9]

Also as of early 2021, CF40's Academic Committee is chaired by Qian Yingyi [zh] and its members include Huang Yiping and Pan Gongsheng.[9]

CF40 Senior Fellows include Guan Tao,[10] Xiao Gang, and Zhang Bin.[10]

See also


  1. ^ James G. McGann (28 January 2021). "2020 Global Go To Think Tank Index Report". University of Pennsylvania. p. 103.
  2. ^ "China's Independent Think Tanks: A Comparative Perspective". Columbia Business School APEC Study Center. 4 February 2013.
  3. ^ "Haiming Wang". Peking University.
  4. ^ "China-Europe-US Economists Symposium: Reform—Challenges & Opportunities". Bruegel. 17 May 2014.
  5. ^ "US-China Economic Relations: From Conflict to Solutions". PIIE Peterson Institute for International Economics. 11 June 2018.
  6. ^ "The 2nd Bund Summit - Crisis and Opportunities: New Finance and New Economy in a New Situation". CF40. 23 October 2020.
  7. ^ Raymond Zhong (6 November 2020), "In Halting Ant's I.P.O., China Sends a Warning to Business", New York Times
  8. ^ Chen Jia (31 August 2020). "Financial opening-up suggested as driver of new five-year-plan". China Daily.
  9. ^ a b "Organizational Structure". CF40.
  10. ^ a b Ha Jiming; Adam S. Posen, eds. (January 2019). "US-China Economic Relations: From Conflict to Solutions" (PDF). PIIE.