Financial Services Association, November 7. The People's Bank of China held a symposium of foreign financial institutions on the 6th to listen to opinions and suggestions from foreign financial institutions and study work related to further optimizing the business environment and promoting a high level of opening-up of the financial industry to the outside world.

At the symposium, Pan Gongsheng explained in depth China's current monetary policy position and considerations relating to monetary policy framework adjustments, introduced the progress of work related to a high level of opening up the financial industry and a package of financial incremental policies, listened to opinions and suggestions, and exchanged responses on issues of concern to various institutions. Foreign financial institutions believe that since this year, the People's Bank of China has made positive progress in a series of measures to deepen the reform and opening up of the financial industry, optimize the business environment, and improve the management of the cross-border flow of financial data. The recently introduced package of financial incremental policies has strongly promoted high-quality economic development, maintained financial market stability, and foreign investors' expectations and confidence in the Chinese market have increased markedly. We hope to further strengthen communication and interaction between policies and markets, and continue to step up efforts to promote the implementation and effectiveness of various incremental policies.

Pan Gongsheng pointed out that the fundamentals of the Chinese economy and favorable conditions such as a broad market, strong economic resilience, and great potential have not changed. In particular, since the release and implementation of a package of financial incremental policies, positive reviews have been given at home and abroad, which has strongly boosted social confidence. The People's Bank of China will earnestly implement the decisions and arrangements of the Party Central Committee and the State Council, grasp the economic growth rate and the quality of economic growth, the dynamic balance between internal and external, investment and consumption, continue to insist on implementing supportive monetary policies, strengthen communication with the market, and continuously improve the quality and efficiency of financial services. Steadily promote the institutional opening of the financial services industry and financial markets, expand domestic and foreign financial market connectivity, promote trade, investment and financing facilitation, create a market-based, rule-of-law, and world-class business environment, and promote continued economic recovery and high-quality financial development.

The heads of 11 foreign financial institutions, including HSBC, Hong Kong Bank of East Asia, Standard Chartered Bank, Citibank, DBS Bank of Singapore, Mizuho Bank of Japan, J.P. Morgan Chase Bank, Societe Generale, Deutsche Bank, Bank of Montreal, Canada, and Morgan Stanley, attended the conference and spoke. Comrades in charge of relevant departments and departments of the People's Bank of China and the State Administration of Foreign Exchange attended the symposium.

Editor/Somer