The Annual Conference of Financial Street Forum (FSF) 2025 opened in Beijing on October 27. Attending and addressing the opening ceremony were He Lifeng, Member of the Political Bureau of the Communist Party of China (CPC) Central Committee and Vice Premier of the State Council, and Yin Li, Member of the Political Bureau of the CPC Central Committee and Secretary of the CPC Beijing Municipal Committee.
Wang Jiang, Executive Deputy Director of the Office of the Central Financial Commission, attended the event. Keynote speeches were delivered by Pan Gongsheng, Governor of the People’s Bank of China (PBOC); Li Yunze, Head of the National Financial Regulatory Administration; Wu Qing, Chairman of the China Securities Regulatory Commission; Lyu Yansong, Editor-in-Chief of Xinhua News Agency; and Zhu Hexin, Administrator of the State Administration of Foreign Exchange. Yin Yong, Deputy Secretary of the CPC Beijing Municipal Committee and Mayor of Beijing; Li Xiuling, Chairman of the Standing Committee of the Beijing Municipal People’s Congress; and Wei Xiaodong, Chairman of the Beijing Municipal Committee of the Chinese People’s Political Consultative Conference (CPPCC), were also present.
He Lifeng noted that during the 14th Five-Year Plan period, under the strong leadership of the CPC Central Committee, Chinahas made significant progress in the financial sector. The 15th Five-Year Plan period will be a critical stage for China to basically achieve socialist modernization, as well as a key period for promoting high-quality financial development and accelerating the building of a strong financial powerhouse. The financial system must actively and effectively contribute to implementing China’s 15th Five-Year Plan, and translating the strategies and major initiatives set by the CPC Central Committee into concrete actions. We must remain steadfast in pursuing a financial development path with Chinese characteristics and stay vigilant in preventing risks, strengthening regulation, and promoting high-quality growth, while steadily push for higher-standard opening up in the financial sector. The financial system should fully support the fulfillment of the main goals and tasks of the 15th Five-Year Plan, making greater contributions to building China into a great modern socialist country in all respects, and advance the rejuvenation of the Chinese nation on all fronts through Chinese modernization.
He Lifeng emphasized that the world is currently undergoing changes unseen in a century, with global financial markets facing both challenges and opportunities. China stands ready to work with all parties to participate in research on global financial governance and steadily advance reforms in global financial governance, contributing Chinese wisdom and strength to maintaining a fair and just international economic and financial order and promoting stable and sustainable global financial development.
He Lifeng pointed out that Beijing has a profound economic and financial foundation, which will actively support the city in leveraging its strategic position as the “four centers”. Beijing will further optimize its financial ecosystem, deepen financial reform and opening up, and promote the high-quality financial development in Beijing.
In his speech, Yin Li said that the 20th CPC Central Committee, at its fourth Plenary Session, has made comprehensive plans for China’s economic and social development over the next five years. A series of policy measures, particularly in finance, has not only injected strong momentum into domestic economic and social development, but also created new opportunities for global economic growth and pragmatic cooperation. Over the past five years, Beijing has achieved sustained and stable development in its economy and society, with continuous improvements in development quality. During this process, finance has played an important supporting role and achieved high-quality development, with improved financial market and service system.
Yin Li pointed out that Beijing will accelerate the development of a dynamic modern financial system and strive to build itself into a pacesetter of financial development. We are ready to work with all parties to jointly promote financial innovation, develop platforms such as the Zhongguancun Pilot Financial Reform Zone for Scientific and Technological Innovation, accelerate technological iteration and industry applications of AI and big data, and create a more vibrant financial ecosystem. We will jointly improve the quality and efficiency of financial services, better channel financial resources into serving the real economy, encourage patient capital to flow into sci-tech innovation enterprises and SMEs, and enrich the supply of financial products for elderly care, healthcare, and other areas. We will also jointly enhance financial governance capabilities by establishing a regulatory system aligned with modern financial development and by improving the security and development. Furthermore, we will deepen financial opening up and cooperation, steadily expand institutional financial openness, facilitating cross-border investment and financing, and create a world-class international business environment.
Kristalina Georgieva, Managing Director of the International Monetary Fund (IMF); Pablo Hernández de Cos, General Manager of the Bank for International Settlements (BIS); and Pierre Gramegna, Managing Director of the European Stability Mechanism (ESM), delivered video addresses. Leaders from relevant central government departments and Beijing Municipality, heads of municipal departments and districts, as well as some diplomatic envoys, representatives of international organizations in China, experts and scholars, and leaders of financial institutions and corporate groups attended the event.
