The Annual Conference of Financial Street Forum 2023, themed "Better China, Better World - Enhancing Financial Openness and Cooperation for Shared Growth and Mutual Benefits", opened in Beijing on the morning of November 8.

Yin Li, Party Secretary of the CPC Beijing Municipal Committee, said in his speech that finance is the lifeblood of the national economy. China's financial market is large in scale and full of potential, and is developing rapidly, firmly establishing itself as a principal force in upholding global financial stability. Beijing has abundant financial resources, a considerable number of financial institutions, and numerous talented minds, and is at the forefront of exploring and practicing financial reforms. Yin further stated that looking to the future, the city will accelerate the construction of a modern financial system with the characteristics of a capital city, create a more open and orderly environment for financial development, and contribute to the promotion of high-quality financial development.

Yin Li pointed out that Beijing will make every effort to serve the national financial management of the financial sector, and continuously enhance the city's capacity to facilitate financial development. Beijing will improve the financial service system with the highest standards, promote the better development of international financial organizations in the capital, and optimize the expansion and layout of the Financial Street. The quality and efficiency of financial services will be fully improved to better meet the diversified financial needs of society. The city will channel more financial resources to the construction of a modern industrial system, support the growth of micro, small, and medium enterprises (MSMEs), promote urban-rural construction and regional coordinated development, safeguard and improve people's livelihood, and improve its multi-level financial market system. Furthermore, efforts will be made to facilitate the expansion of the Beijing Stock Exchange in terms of scale and quality. Beijing will be committed to deepening reform and opening-up of the financial sector, and focus on improving the level of high-quality financial development. Five major tasks centered around technology finance, green finance, inclusive finance, pension finance, and digital finance will be carried out. The innovative practices of Zhongguancun Sci-tech Innovation Finance Reform Pilot Zone and China Beijing Green Exchange will be deepened and piloted in relation to the opening-up of the city's financial market and facilitating cross-border investment and financing. These efforts are aligned with the development objectives of the "Two Zones" (i.e. the Integrated National Demonstration Zone for Opening up the Services Sector and the China (Beijing) Free Trade Zone). Beijing will ensure financial security and continue to promote the modernization of its financial governance system and governance capacity. The city will build a better development platform, create a world-class business environment, and help domestic and foreign financial institutions and long-term capital to develop and prosper in Beijing.

(Source: Beijing Daily)