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BEIJING, Oct. 22, 2021 /PRNewswire=KYODO JBN/ --

The Annual Conference of Financial Street Forum 2021 kicked off Wednesday in

Beijing has pooled insights on financial sector's role in enhancing economic

resilience and supporting high-quality development.

At present, there are more than 40 million market entities supported by

inclusive small and micro loans, which speaks China's economic resilience and

active financial actions, according to Yi Gang, governor of the People's Bank

of China (PBOC), when addressing the conference.

The growth of money supply and social financing basically matches that of

nominal GDP, which interprets right policy set and sufficient liquidity,

according to Yi, noting that structurally, monetary and credit policy tools

could better support small, medium and micro enterprises and green and

low-carbon development.

The financial sector now shoulders a key role in fostering a new development

paradigm and supporting high-quality development, according to Guo Shuqing,

chairman of China Banking and Insurance Regulatory Commission (CBIRC), calling

more financial actions for improving people's living environment, insurance

protection, education system, among others.

A multi-layer equity market system with complementary functions and organic

connections for meeting enterprises' various financing needs is an inherent

requirement for enhancing the adaptability of finance to the real economy,

according to Yi Huiman, chairman of the China Securities Regulatory Commission

(CSRC), calling for steadily advancing the reform of the registration system to

promote a virtuous cycle of economy and finance.

Pan Gongsheng, deputy governor of the PBOC and head of the State Administration

of Foreign Exchange (SAFE), noted that the stable domestic economic

fundamentals would act as the basic guarantee for China's foreign exchange

market in respond to external shocks.

Liu Siyang, Vice President of Xinhua News Agency, noted that Xinhua has

witnessed and reported every historical moment in the development of China's

financial industry and would further refine its economic news and information

services, especially in the financial field, giving full play to its

authoritative, intellectual, terminal, and global advantages to contribute to

the healthy development of China's financial industry.

Founded in 2012, the forum is jointly organized by the People's Government of

Beijing Municipality, the PBOC, Xinhua News Agency, CBIRC, CSRC, and SAFE,

hailed as a bellwether of China's financial reform and development.

See the original link: https://en.imsilkroad.com/p/324404.html

SOURCE: Xinhua Silk Road

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   Link: http://asianetnews.net/view-attachment?attach-id=404885

   Caption: The Annual Conference of Financial Street Forum 2021 kicks off in Beijing on

Oct.20, 2021.