On the afternoon of October 19, 2017, the Graduate Party Branch and the League Branch of the Institute of Finance and Development jointly invited Prof. Tian Lihui to give lectures on the topic party of the 19th National Congress Report on Learning and Financial Development. All the graduate students and Ph.D. students of the Institute of Finance and Development participated in the Party Live learning.

At the beginning of the party class, Prof. Tian Lihui pointed out that the relationship between financial learning and political study,and indicated that financial development must effectively enhance political awareness, overall situation awareness, core awareness and awareness of alignment. Financial development and political awareness are inseparable, and political awareness refers to political thoughts, political opinions, attitudes and comments on political opinions. Marx, Engels and Lenin hold that politics is the most concentrated manifestation of the economy. We should not only have political awareness but also the overall situation awareness. Old saying goes, do not consider the overall situation will not enough to consider a city, do not consider the ten thousand centuries will not enough to consider a moment. To enhance the awareness of the overall situation , we should be good at looking at the form from the perspective of the overall situation, analyzing problems in the long run, and being good at understanding and grasping the overall situation around the party and the nation.At present, thefive-in-one overall layout of China's economic construction, political construction, cultural construction, social construction and ecological civilization construction comprehensively deepen the reform, comprehensively rule the country according to law and comprehensively and strictly govern the party's strategic layout,is the cornerstone of financial development and investment allocation.At the same time, it is imperative for us to enhance our core awareness and ensure that we must achieve three resolutenesses, that is, firmly uphold the core of the Communist party of China's leadership in the cause of socialism with Chinese characteristics, resolutely comply with the decisions and unfamiliar practices of the party Central Committee, and resolutely comply with the decision and deployment of the party Central Committee, and resolutely implement Comrade Xi Jinping as general secretary Party Central Committee's guidelines and policies. Consciousness requires us to align with the Party Central Committee, aligning with General Secretary Xi Jinping. Must be to prevent par when favorable, aliasing when unfavorable ; par when smooth, aliasing when difficult; par when pleasant, aliasing when unhappy.

Subsequently, Professor Tian Lihui introducedthe main contents of the 19th National Congressin in detail, elaborated on General Secretary Xi Jinping's three stages on national development ,and the socialism with Chinese characteristics in the new era.On the basis of this, summarized the four concerns of the19th National Congress report and analyze them in detail.The first is the change in the major social contradictions in our country. The major contradictions in our society have been translated into the contradiction between the people's growing need for a better life and the imbalanced and inadequate development . This has underlined the general trend of escalation in consumption and the development of productive forces needs to be more balanced.The second is to build a modern economic system and take the supply-side structural reform as the main body. Supply based on the C-D production function, the Solow residual value not only includes science and technology, but also includes the system dividend; supply-side reform requires improving the quality of the workforce, reducing the cost of capital, improve capital allocation efficiency.The third one is the emphasis on innovation in the report of the 19th National Congress.The report pointed out that innovation is the first impetus to development, and innovation is positioned as a strategic support for building a modern economic system, and requires accelerating the building of an innovative country.Therefore, emerging industries that follow innovation as an important driving force will continue to benefit from policy drivers.Fourth, the financial sector should continue to pay attention to the sound regulatory system and financial risk prevention.At present, the market-based interest rate reform in our country has not yet reached the expected target and still needs to be further promoted. The exchange rate reform should be gradually introduced in light of China's economic development and international risks.At the same time, funds should be prevented from idling in the financial system. The capability of financial services entities economic should be effectively strengthened, the proportion of direct financing should be increased, the financial system should be taken from unreality to reality, and both industry and finance should be integrated.

Finally, combining with the report of the 19th National Congress and the economic development of our country, Professor Tian Lihui combined with the development of the capital market thinks that investment should focus on China's core assets and development should focus on efficiency to quality. The transformation and upgrading of China's economic structure more highlight the value of China's core assets, and innovative enterprises and industries will usher in rapid development.From the industry perspective, the environmental protection and military industry will be a separate chapter, highlighting the potential for value growth; from the theme, the Xiong'an New Area, Belt and Road, state-owned enterprise reform, land reform, housing leasing and education will become hot spots; from a long-term asset allocation perspective,intelligentization is the core, its representative companies have Baidu, Tencent and IFLYTEK. All in all, based on the available data and information, the Chinese economy has been making steady progress and stock market long-term slow cattle pattern initially formed.

The party lecture is informative and the explanation is simple, so that the students of the whole institute have a more comprehensive and profound understanding of the content and significance of the19th National Congress reports.