Liu Jin, President of the Bank of China at the "Financial Street Forum": The two-way opening up of the financial industry provides a richer tool for the banking industry to serve the real economy

#2021金融街年会 #

Beijing, October 22 (Xinhua Finance) -- Liu Jin, governor of the Bank of China, recently attended the opening ceremony of the "2021 Financial Street Forum Annual Conference" in Beijing and delivered a keynote speech at the parallel forum of "Two-way Opening up and Financial Cooperation".

Liu Jin believes that the new development pattern of double circulation has brought more opportunities for the banking industry to serve the real economy. In the context of the global economic recovery, cross-border market activities and investment layouts interrupted by the epidemic have gradually restarted. The domestic cycle under the new development pattern has provided strong support for China's banking industry to actively, flexibly and steadily participate in the global market; looking at the world, new economic growth points that continue to emerge in terms of industrial chain restructuring, multilateral cooperation, high-quality joint construction of the "Belt and Road", and green sustainable development have provided new opportunities for China's banking industry to help the double cycle and serve the development of the global real economy.

Liu Jin pointed out that the two-way opening up of the financial industry provides a richer tool for the banking industry to serve the real economy. Under the epidemic, the turmoil in the global financial market has intensified, but the pace of China's financial opening up to the outside world is gradually accelerating, with a hundred foreign financial institutions blooming, and more than 100 foreign-funded institutions such as banks, payments and securities landing intensively. At the same time, the inflow of foreign capital has increased significantly, the opening policy has continued to land, and the facilitation of cross-border investment and financing has been significantly enhanced. Systematic institutional opening up demonstrates China's determination and determination to deepen reform and opening up, and brings more possibilities for China's banking industry to optimize the supply of financial services, explore financial product innovation, and deepen international financial cooperation.

Liu Jin stressed that expanding the high-level two-way opening up of the financial industry and improving the level of the financial industry to serve the real economy is the unshirkable responsibility and responsibility of the Chinese banking industry. Two-way opening up will continue to push China's banking industry to a new era of operation. In the future, China's banking industry needs to continuously improve quality and efficiency, continue to optimize the new management system, accelerate the construction of a modern financial product system, deeply participate in the global financial governance system, and help a higher level of higher level and higher quality two-way opening up with high-level operation, and help serve the real economy to a new level.

"As a Chinese-funded commercial bank with the highest degree of globalization and integration, the Bank of China, which will usher in the 110th anniversary of its birth next year, will unite its efforts to carry forward the past and open up the future, give full play to the advantages of globalization, be the vanguard of high-level two-way opening up of finance, and make new and greater contributions to serving the new development pattern." Liu Jin said.

It is understood that the Financial Street Forum is co-sponsored by the Beijing Municipal People's Government, Chinese Min min bank, Xinhua News Agency, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and State Administration of Foreign Exchange. With the theme of "Economic Resilience and Financial Behavior", the 2021 Annual Meeting of the Forum invited well-known experts and scholars from all walks of life around the world to exchange and discuss around the recovery and reconstruction of China and the global economy.

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