BEIJING—In a significant move to bolster economic growth and international confidence, Pan Gongsheng, governor of the People’s Bank of China (PBOC), announced on Wednesday that China will continue to promote high-standard financial opening up. Speaking at a press conference on the sidelines of the ongoing session of China’s top legislature, Pan emphasized the nation’s commitment to making its financial policies more transparent and predictable.
“China will expand the opening up of financial services and financial markets,” Pan told domestic and foreign media at the Media Center Hotel in Beijing. “We aim to improve the business environment for foreign financial institutions and make the country a more attractive destination for long-term capital.”
Pan highlighted that the PBOC supports Chinese financial institutions in going global and expanding into international markets. “We will steadily advance the two-way opening up of our financial market,” he added, signaling a reciprocal approach to international financial cooperation.
The remarks came during the second session of the 14th National People’s Congress, where key issues regarding development and reform, financial and budget policies, commerce, and financial securities were discussed. The conference served as a platform for China to communicate its economic strategies and reforms to both domestic and international audiences.
China’s commitment to financial openness is poised to enhance its integration into the global economy, offering new opportunities for investors and businesses worldwide. By fostering a more transparent and predictable financial environment, China aims to attract foreign investment and stimulate sustainable economic growth.
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High-standard financial opening up a priority for China, says official
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