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- Xinhua Silk Road: Economic development, financial cooperation amid changes highlighted at Financial Street Forum 2022 annual conference

BEIJING, Nov. 23, 2022 /PRNewswire/ -- The Financial Street Forum 2022 Annual Conference kicked off in Beijing on Monday with the theme "Moving Toward a Shared Future: Economic Development and Financial Cooperation Amidst Changes," attracted participants who They shared their views and insights on the theme of the conference.

Yin Li, secretary of the Communist Party of China (CPC) Beijing Municipal Committee, told the conference that Beijing will continue to strengthen the development of the financial sector to inject impetus into the real economy, at the same time, Beijing is committed to deepening reform and innovation in the financial sector to promote a higher level of financial openness.

China's stable monetary policy has provided significant support to the real economy, according to Yi Gang, Governor of the People's Bank of China (PBOC), the central bank of China, adding that the central bank also took advantage of structural monetary policy tools. to improve support for agriculture, small and medium-sized enterprises, as well as private companies, making finance more accessible, available and affordable for them.

Guo Shuqing, Chairman of the China Banking and Insurance Regulatory Commission (CBIRC), explained that China's financial market has witnessed the rapid growth of insurance products with real pension attributes through government-regulated governance. relevant Chinese institutions, accumulating a national pension reserve fund of more than 5 trillion yuan.

Fu Hua, president of Xinhua News Agency, said Xinhua will firmly commit to strengthening news coverage and information services relevant to China's financial sector in order to provide strong support for the healthy development of China's financial industry. China.

Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), explained at the conference that efforts should be made to understand the valuation logic of different types of listed companies and explore ways to build a valuation system. with Chinese characteristics so that the market plays a better role in the allocation of resources.

Globally, with the increasing resilience of China's foreign exchange market, the risk-avoidance properties of the renminbi's assets are also becoming more noticeable, according to Pan Gongsheng, deputy governor of the PBOC and also director of the State Administration of Foreign Exchange (SAFE). ).

This year's forum is jointly organized by the People's Government of Beijing Municipality, the People's Bank of China, Xinhua News Agency, the China Banking and Insurance Regulatory Commission, the China Securities Regulatory Commission and the Administration Currency State.

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