#China #Beijing #High-quality development #Financial Street Forum

Financial Street Forum Concludes in Beijing

The Annual Conference of the Financial Street Forum (FSF) wrapped up recently in Beijing, marking a significant event that brought together over 30 countries. This year's forum achieved more than 100 notable outcomes, emphasizing collaboration in finance and high-quality developmental strategies for China's economy.

The event lasted four days and was themed "Global Financial Development in the Era of Innovation, Transformation, and Restructuring." As one of the essential gatherings for financial experts, it addressed various pressing subjects, including the necessity of financial backing for innovation and the advancement of the Belt and Road Initiative, as well as the role of the private economy in propelling high-quality growth.

Notable figures from China's financial landscape, including representatives from the People's Bank of China and the China Securities Regulatory Commission, shared their future work priorities. The discussions also highlighted the significance of global partnerships and the essential role different nations play in the financial domain.

An exciting aspect of this year's forum was the establishment of five overseas sub-venues in regions including Southeast Asia, the Middle East, Europe, and North America, which marked a record for this conference. David Perez-Des Rosiers, a chief representative from the Canada China Business Council, praised the event, appreciating the chance to engage with prominent speakers and gain insights into the evolving financial policies in China. He indicated that such discussions are crucial for international stakeholders, like his organization.

A noteworthy sub-venue took place in Madrid, Spain, where the theme focused on enhancing China-Europe relationships, making it a historical first for the FSF. Jack Perry Junior, a prominent figure in trade between China and the UK, highlighted mutual trust and cooperation as essential for fostering the China-EU alliance.

The event also shed light on the anticipated high-quality development of China's economy during the upcoming 15th Five-Year Plan period (2026-2030). In parallel forums, experts discussed the need for financial innovation to empower private sector growth. Xing Ziqiang, Morgan Stanley's chief China economist, spoke about the optimistic outlook fueled by policy support, domestic innovation, and increased foreign capital influx, reinforcing confidence in the market.

On another note, the Export-Import Bank of China executed multiple cooperation agreements with both domestic and international financial institutions, underscoring the growing interconnectivity among nations through financial collaboration, particularly in the context of the Belt and Road Initiative.

The spotlight also fell upon Hong Kong as an international financial center during the forum. In a concluding video appearance, the Chief Executive of the Hong Kong Special Administrative Region, John Lee Ka-chiu, reaffirmed the city's commitment to being a crucial facilitator in the global financial landscape.

The discussions at the forum also echoed the 20th Central Committee of the Communist Party of China's directive, which stresses the importance of constructing a modernized industrial system and reinforcing the foundations of the real economy. Wan Zhe, a noted economist, emphasized the financial sector's role in navigating these goals, suggesting that the adaptability of financial services will be crucial for fostering a robust economy amid changing landscapes.

In summary, the Financial Street Forum not only reaffirmed Beijing's position in the global finance arena but also showcased the necessity of innovation, international cooperation, and financial reforms that will serve as a catalyst for achieving socioeconomic aspirations in China's forthcoming developmental phase.