1. China's economic fundamentals and broad market, strong economic resilience, and great potential have not changed; 2. Continue to adhere to the implementation of supportive monetary policies, strengthen communication with the market, and continuously improve the quality and efficiency of financial services.
On November 7th, Caixin reported that the People's Bank of China held a symposium with foreign financial institutions on the 6th to listen to their opinions and suggestions, and to further optimize the business environment and promote high-level opening up of the financial industry.
During the symposium, Pan Gongsheng elaborated on the current Chinese monetary policy stance and considerations for adjusting the monetary policy framework, introduced the progress of high-level opening of the financial industry and related comprehensive financial increment policies, listened to opinions and suggestions, and exchanged responses on issues of concern to various institutions. Foreign financial institutions believe that since the beginning of this year, the People's Bank of China has made positive progress in deepening the reform and opening up of the financial industry, optimizing the business environment, and improving the management of cross-border financial data flow. The recent comprehensive financial increment policies have effectively promoted high-quality economic development, maintained financial market stability, and significantly enhanced foreign expectations and confidence in the Chinese market. They hope to further strengthen communication and interaction between policy and the market, continue to exert efforts to ensure the effectiveness of various incremental policies.
Pan Gongsheng pointed out that the basic fundamentals of the Chinese economy, such as its broad market, strong economic resilience, and great potential, have not changed. In particular, since the introduction and implementation of the comprehensive financial increment policies, both domestic and foreign parties have given positive evaluations, which have effectively boosted social confidence. The People's Bank of China will conscientiously implement the decisions and arrangements of the Central Committee of the Communist Party of China and the State Council, grasp the dynamic balance of economic growth rate and quality, internal and external factors, investment and consumption, continue to adhere to an accommodative monetary policy, strengthen communication with the market, continuously improve the quality and efficiency of financial services. Steadily promote the opening of the financial services industry and financial market systems, expand the interconnection of domestic and foreign financial markets, promote trade and investment facilitation, create a first-class business environment with market-oriented, rule of law, and international standards, promote sustained economic recovery and high-quality development of finance.
Leaders of 11 foreign financial institutions including HSBC, Bank of East Asia, Standard Chartered Bank, Citibank, DBS Bank, Mizuho Bank of Japan, JPMorgan Chase Bank, Societe Generale, Deutsche Bank, Bank of Montreal, and Morgan Stanley attended and spoke at the symposium. Representatives from the People's Bank of China, the State Administration of Foreign Exchange, and relevant bureaus and units also participated in the symposium.
Editor/Somer