#China #Beijing #Economic Stability #Financial Forum #China reforms

Major Financial Forum Kicks Off in Beijing

The Annual Conference of Financial Street Forum (FSF) 2025 commenced on October 28 in Beijing, an essential event illustrating China’s dedication to financial reform and openness in a rapidly evolving global landscape. Running until October 31, this year’s conference emphasizes significant advancements in the financial sector, including policy introductions, new institutional launches, international agreements, and discussions on emerging projects in financial technology, green initiatives, and industrial finance.

Theme and Focus

Under the theme "Global Financial Development in an Era of Innovation, Transformation and Restructuring", the FSF 2025 aims to foster high-quality global finance. The forum emphasizes the necessity of consensus on innovation and transformation while advocacy for a resilient, inclusive, and sustainable global financial structure.

With over 400 guests hailing from more than 30 countries, this year’s forum acts as a pivotal platform for China's financial cooperation and its openness to international markets. Experts have noted its essential role in instilling stability, attracting international capital, and enhancing China’s presence on the world financial stage.

Financial Policy Developments

Since its inception in 2012, the FSF has evolved into a national-level international forum where critical financial policies and regulations are discussed. The governor of the People’s Bank of China (PBOC), Pan Gongsheng, addressed attendees, confirming the overall stability of the bond market and announcing the resumption of open market operations involving government bonds. This follows a temporary suspension due to previous supply-demand imbalances and market risks. Pan also highlighted a new one-time personal credit relief policy aimed at expediting the repair of individuals’ credit records that were affected during the pandemic.

This provision will allow individuals to omit certain repaid loan defaults from their credit histories, aiming for implementation in early 2026.

Furthermore, a work plan to optimize the Qualified Foreign Institutional Investor (GFII) system was unveiled. This plan intends to streamline foreign investment access and improve overall investment efficiency, ensuring a transparent and efficient regulatory environment for international investors.

Injecting Momentum into Financial Reforms

As China continues its ambitions during the 14th Five-Year Plan period (2021-2025), its economic output is on track to reach approximately 140 trillion yuan this year, contributing around 30 percent to global economic growth with a steady annual growth rate of 5.5 percent. Experts have indicated that the FSF is poised to invigorate China’s ongoing financial reforms and open up markets further, thereby enhancing global economic stability amidst increasing protectionism.

Li Changan, a professor at the Academy of China Open Economy Studies, stated that the event serves as a crucial conduit for international stakeholders to gain insight into China's evolving financial policies.

Future Optimism

Financial leaders shared optimistic projections, indicating a stable economic trajectory moving forward, particularly during the forthcoming 15th Five-Year Plan period (2026-2030). Discussions highlighted the pressing need for better coordination between China’s macroeconomic strategies and its financial sector advancements to facilitate sustained growth.

Experts remain confident that continued reforms will open China’s financial environment to greater international collaboration and investment. They firmly believe that the insights and responsibilities discussed during FSF 2025 will play a key role in shaping a stable, innovative, and resilient global financial ecosystem going forward.