The State Council Information Office held a press conference today where Xiao Yuanqi, vice minister of the National Financial Regulatory Administration, emphasized the crucial role of China’s financial sector in driving high-quality economic and social development.
Addressing the media, Xiao highlighted the significant progress made in financial reforms aimed at supporting sustainable growth. “The financial sector has been instrumental in allocating resources efficiently, fostering innovation, and enhancing the livelihoods of our people,” he stated.
Xiao pointed out that recent policies have strengthened financial regulation, improved risk management, and expanded access to financial services across urban and rural areas. These measures are designed to ensure that economic growth is both robust and inclusive.
“We are committed to creating a financial environment that supports small and medium-sized enterprises, encourages entrepreneurship, and promotes technological advancement,” Xiao added. He also discussed initiatives to deepen financial cooperation with international partners, aiming to contribute to global economic stability.
The vice minister took questions on various topics, including the impact of global economic challenges on China’s financial markets and the strategies being implemented to mitigate potential risks. He reassured that the regulatory administration remains vigilant and proactive in safeguarding financial security.
Concluding the conference, Xiao reiterated the government’s dedication to leveraging the financial sector’s capabilities to enhance social welfare and achieve long-term development goals. “Our objective is to build a modern financial system that serves the real economy and meets the aspirations of our people,” he said.
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Live: Financial sector contributes to high-quality social development
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