Industry dynamics | The 2022 Financial Street Forum Annual Conference was successfully held, and guests from the two sessions talked about economic development and financial cooperation under the changing situation

This year marks the 30th anniversary of the construction and development of Financial Street. On November 21, the 2022 Financial Street Forum Annual Conference with the theme of "Vigorous Efforts, Together for the Future - Economic Development and Financial Cooperation under Changing Situations" opened in Beijing. Focusing on the theme of the annual meeting, the guests discussed in depth and offered suggestions. Yin Li, member of the Political Bureau of the CPC Central Committee and Secretary of the Beijing Municipal Party Committee, delivered a speech and announced the opening of the annual meeting of the forum, People's Bank of China President Yi Gang delivered a video speech, Guo Shuqing, Secretary of the People's Bank of China Party Committee and Chairman of the China Banking and Insurance Regulatory Commission, Fu Hua, President of Xinhua News Agency, Yi Huiman, Chairman of the China Securities Regulatory Commission, attended and delivered speeches, Yin Yong, Deputy Secretary of the Beijing Municipal Party Committee and Acting Mayor, Li Wei, Chairman of the Standing Committee of the Municipal People's Congress, and Wei Xiaodong, Chairman of the Municipal People's Political Consultative Conference.

Yin Li delivered a speech

Yin Li said in his speech that the 20th CPC National Congress drew up a grand blueprint for comprehensively promoting the great rejuvenation of the Chinese nation with Chinese-style modernization, stressing that high-quality development is the primary task of comprehensively building a modern socialist country, and that we must persist in focusing economic development on the real economy, and made arrangements for financial development, pointing out the direction for doing a good job in economic work. As a national financial management center, Beijing is rich in financial resources, gathering financial institutions and financial talents, and the financial industry is the largest pillar industry in Beijing, and the total financial assets of Beijing account for about half of the country. We will deeply implement the spirit of the 20th National Congress of the Communist Party of China, deeply implement the spirit of a series of important speeches made by General Secretary Xi Jinping to Beijing, and with the strong support of the "one bank, two sessions and one bureau" and various departments and institutions, based on resource endowments, adhere to the standard of first benevolence, focus on developing a modern financial industry that matches the status of the capital of a major country, and better serve and integrate into the new development pattern.

Yin Li pointed out that we will focus on strengthening the function of the national financial management center, ensuring the implementation of major national financial strategies and policies, promoting the layout of the national financial infrastructure in Beijing, and supporting the improvement of the functions of the headquarters of major financial institutions. Strive to enhance the quality and efficiency of the real economy of financial services, increase financial support for major strategies, key areas, major projects and weak links, and provide precise financial services for small and medium-sized enterprises. Improve the multi-level financial market system, deepen the reform of the New Third Board, and support the Beijing Stock Exchange to become bigger and stronger. Strive to deepen financial reform and innovation, promote a virtuous cycle of science and technology, finance and industry, and promote the integrated development of financial technology and digital economy. Strive to promote a higher level of financial openness, rely on the construction of "two zones", take the lead in financial market opening, cross-border capital flow, investment and financing facilitation, etc., and build a "Belt and Road" financial cooperation hub. Efforts should be made to prevent and resolve financial risks, strengthen the construction of financial rule of law, and improve local financial supervision capabilities. We will build a better development platform, create a market-oriented, rule-of-law, international, first-class business environment, and welcome domestic and foreign financial institutions to invest and develop in Beijing.

Yi Gang delivered a speech

People's Bank of China Governor Yi Gang said that since the beginning of this year, the prudent monetary policy has increased its implementation in a timely manner, which has not only strongly supported the overall macroeconomic stability, but also maintained the basic stability of the price situation, and also taken into account the internal and external balance. Prudent monetary policy is not only supported by aggregates, but also structural. The People's Bank of China focuses on the blockages and difficulties of the supply-side structure, gives play to the role of structural monetary policy, and continues to strengthen financial services for "three rural areas", small and micro enterprises, private enterprises and other fields.

Guo Shuqing delivered a speech

Guo Shuqing, Secretary of the People's Bank of China Party Committee and Chairman of the China Banking and Insurance Regulatory Commission, said that the development of a multi-level and multi-pillar endowment insurance system is an important measure to improve the supply of the social field. After cleaning up and rectification, the number of insurance products with real pension attributes has increased rapidly, accumulating more than 5 trillion yuan of pension responsibility reserves for the people. To standardize the development of the third pillar of endowment insurance, the most important thing is to encourage financial institutions to develop commercial endowment financial products that match the name and operate safely.

Fu Hua delivered a speech

Fu Hua, president of Xinhua News Agency, said that on the new journey, Xinhua News Agency will deeply implement the spirit of the 20th National Congress of the Communist Party of China, closely focus on the overall situation of the work of the party and the country, give full play to the responsibilities of the mouthpiece, eyes and ears and think tank of the Party Central Committee, be the "vanguard" of publicizing Xi Jinping's economic thought, the "flag bearer" of guiding market public opinion, the "think tank" of financial reform and development, and the "information bridge" connecting the world, further strengthen news reporting and information services in the financial field, and provide strong support for promoting the healthy development of China's financial industry.

Yi Huiman delivered a speech

Yi Huiman, chairman of the China Securities Regulatory Commission, said that we need to think more deeply and systematically about the realization path of modern capital market with Chinese characteristics. It is necessary to explore the establishment of a valuation system with Chinese characteristics and promote the better play of the market resource allocation function. It is necessary to integrate the general laws of the capital market with the reality of the Chinese market and with the excellent traditional Chinese culture. While continuing to develop and strengthen the strength of institutional investment, we should pay more attention to the protection of the legitimate rights and interests of small and medium-sized investors.

Pan Gongsheng delivered a speech

Pan Gongsheng, vice governor of People's Bank of China and director of the State Administration of Foreign Exchange, said that the resilience of China's foreign exchange market has been increasing, and the hedging attribute of RMB assets has become increasingly prominent. We will continue to coordinate development and security, make every effort to build a foreign exchange management system and mechanism that is compatible with the new development pattern, and maintain the steady operation of the foreign exchange market and national economic and financial security.

Yin Yong delivered a speech

Georgieva, Managing Director of the International Monetary Fund, Carstens, President of the Bank for International Settlements, delivered a video speech, Pan Gongsheng, Vice Governor of People's Bank of China and Director of the State Administration of Foreign Exchange, leaders of relevant ministries and commissions of the state and Beijing Municipality, responsible persons of financial management departments, financial institutions and enterprise groups in Beijing, experts and scholars, and some foreign envoys in China attended the meeting. This year's Financial Street Forum Annual Meeting is co-sponsored by the Beijing Municipal People's Government, People's Bank of China, Xinhua News Agency, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and State Administration of Foreign Exchange.