Annual Financial Street Forum Conference Commences in Beijing
The annual Financial Street Forum has commenced in Beijing.
TroibNews 
The Financial Street Forum 2024 is taking place from October 18 to 20 in Beijing, centered on the theme "Trust and Confidence – Work Together To Promote Financial Openness, Cooperate For Shared Economic Stability and Growth." During this event, prominent figures in the industry will share their perspectives on China's economic recovery and the confidence of foreign investors in the country.
The market has shown a positive response following the stimulus package issued by the People's Bank of China last month. At the opening ceremony on Friday, Pan Gongsheng, governor of the PBOC, indicated that the required reserve ratio may be further reduced by 0.25-0.5 percentage points by the end of the year, contingent on market liquidity.
Li Yunze, director of the National Financial Regulatory Administration, stated that China encourages financial companies to enhance their role in fostering technological innovation. He noted that the scale of contract intention for the latest batch of 18 pilot investment cities has surpassed 250 billion yuan.
In an effort to attract foreign investment, China Securities Regulatory Commission Chairman Wu Qing mentioned that the commission will persist in promoting comprehensive institutional market opening, expanding channels for overseas listings, and encouraging foreign entities to invest and grow their operations in China.
Additionally, Zhu Hexin, an administrator of the State Administration of Foreign Exchange, remarked that future developments in the currency market will focus on ensuring the stable operation of China's foreign exchange market and maintaining a balance in international payments.
Agustín Carstens, General Manager of the Bank for International Settlements, stated at the forum that as the Chinese market continues to recover, increased domestic demand in China would benefit the global economy and provide new momentum for global economic stability and financial integrity.
Allen M Lee contributed to this report for TROIB News
The market has shown a positive response following the stimulus package issued by the People's Bank of China last month. At the opening ceremony on Friday, Pan Gongsheng, governor of the PBOC, indicated that the required reserve ratio may be further reduced by 0.25-0.5 percentage points by the end of the year, contingent on market liquidity.
Li Yunze, director of the National Financial Regulatory Administration, stated that China encourages financial companies to enhance their role in fostering technological innovation. He noted that the scale of contract intention for the latest batch of 18 pilot investment cities has surpassed 250 billion yuan.
In an effort to attract foreign investment, China Securities Regulatory Commission Chairman Wu Qing mentioned that the commission will persist in promoting comprehensive institutional market opening, expanding channels for overseas listings, and encouraging foreign entities to invest and grow their operations in China.
Additionally, Zhu Hexin, an administrator of the State Administration of Foreign Exchange, remarked that future developments in the currency market will focus on ensuring the stable operation of China's foreign exchange market and maintaining a balance in international payments.
Agustín Carstens, General Manager of the Bank for International Settlements, stated at the forum that as the Chinese market continues to recover, increased domestic demand in China would benefit the global economy and provide new momentum for global economic stability and financial integrity.
Allen M Lee contributed to this report for TROIB News
