China Daily: Financial Street Forum focuses on enhancing openness and cooperation for shared growth and mutual benefits

BEIJING, Nov. 10, 2023 /PRNewswire/ -- Serving as a national-level platform for the authoritative release of financial policies and the benign interaction between finance and the real economy, the Annual Conference of Financial Street Forum 2023 held in Beijing from Wednesday to Friday is aimed at creating a benchmark for China's financial reform and development and promoting openness, cooperation and win-win results on the globe stage.

More than 400 heavyweight guests from over 30 countries and regions around the world are sharing their views on current economic and financial hot topics and exploring international cooperation opportunities and ways to overcome global economic challenges and how the financial sector can better contribute to economic development.

Themed with Better China, Better World—Enhancing Financial Openness and Cooperation for Shared Growth and Mutual Benefits, the conference, comprised of one main forum, three parallel forums and a total of 22 sessions, is being co-hosted by the Beijing Municipal People's Government, the People's Bank of China, the National Financial Regulatory Administration, the China Securities Regulatory Commission, Xinhua News Agency and the State Administration of Foreign Exchange.

The five main forums focus on topics such as strengthening international macroeconomic policy dialogue to enhance global economic and financial resilience. The heads of financial regulatory departments, policy committee members, exchange directors and the CEOs of well-known multinationals have been invited to conduct in-depth discussions.

Yin Li, Party secretary of Beijing, said at the opening ceremony that China's financial market is large, potential-rich, and fast-developing; with a solid foundation in the real economy, it has become a key force in maintaining global financial stability.

As the national financial management center, Beijing has abundant financial resources, a concentration of financial institutions, a plethora of financial talents, and is at the forefront of exploring and practicing financial reforms, he said.

Pan Gongsheng, governor of the People's Bank of China and administrator of the State Administration of Foreign Exchange, said monetary policy will pay more attention to cross-cycle and countercyclical adjustment, maintain reasonable and abundant liquidity, support stable economic growth and increase support for major strategies, key areas and weak links.

The market will play a decisive role in the formation of the exchange rate at a reasonable equilibrium level, he said.