PR98953

BEIJING,Nov.23, 2022 /PRNewswire=KYODO JBN/ --

The Annual Conference of Financial Street Forum 2022 kicked off in Beijing on

Monday with the theme "Forge Ahead Toward a Shared Future: Economic Development

and Financial Cooperation Amid Changes", attracted participants shared their

views and insights regarding the conference theme.

Yin Li, secretary of the Communist Party of China (CPC) Beijing Municipal

Committee, said at the conference that, Beijing will continue to strengthen the

development of the financial sector to inject impetus into the real economy, at

the same time, Beijing is committed to deepening reform and innovation in the

financial sector to promote a higher level of financial opening-up.

China's stable monetary policy has provided significant support to the real

economy, according to Yi Gang, governor of the People's Bank of China (PBOC),

China's Central Bank, adding that the central bank also leveraged structural

monetary policy tools to enhance support for agriculture, small and

medium-sized enterprises, as well as private companies, making finance more

accessible, available and affordable for them.

Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission

(CBIRC), said that China's financial market has witnessed the rapid growth of

insurance products with real pension attributes through regulated governance by

the relevant Chinese authorities, accumulating a national pension reserve fund

of more than 5 trillion yuan.

Fu Hua, president of Xinhua News Agency, said that Xinhua will be firmly

committed to strengthening news coverage and relevant information services in

China's financial sector provides strong support for the healthy development of

China's financial industry.

Yi Huiman, chairman of the China Securities Regulatory Commission (CSRC), said

at the conference that efforts should be made to grasp the logic of valuation

for different types of listed companies, and to explore ways to build a

valuation system with Chinese characteristics so that market plays a better

role in resource allocation.

Globally, with the increasing resilience of China's foreign exchange market,

the asset risk avoidance properties of renminbi are also increasingly

perceptible, according to Pan Gongsheng, deputy governor of PBOC, also the head

of the State Administration of Foreign Exchange (SAFE).

This year's forum is jointly organized by the People's Government of Beijing

Municipality, the People's Bank of China, Xinhua News Agency, China Banking and

Insurance Regulatory Commission, China Securities Regulatory Commission and the

State Administration of Foreign Exchange.

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SOURCE: Xinhua Silk Road

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   Caption: (221122) -- BEIJING, Nov. 22, 2022 (Xinhua) -- This photo taken on Nov. 21,

2022 shows the opening ceremony of the Annual Conference of Financial Street

Forum 2022 in Beijing, capital of China. Themed "Forge Ahead Toward a Shared

Future: Economic Development and Financial Cooperation Amid Changes", the

Annual Conference of Financial Street Forum 2022 opened here on Monday.

(Xinhua/Chen Zhonghao)