Global Times: Major financial forum kicks off in Beijing, underscoring China's commitment to reform and opening-up

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BEIJING, Oct. 28, 2025/PRNewswire/ -- China's flagship event in the financial sector, the Annual Conference of Financial Street Forum (FSF) 2025, officially kicked off in Beijing on Monday. The FSF 2025, running from Monday to Thursday, will showcase a wave of important developments in the financial sector, including the introduction of key policies, the launch of major institutions, the signing of international cooperation agreements, and the presentation of flagship projects and reports in financial technology, green development, and industrial finance, the Global Times learned from the organizer.

Themed "Global Financial Development in an Era of Innovation, Transformation and Restructuring," this year's forum focuses on promoting high-quality global finance. It calls for greater consensus on innovation, the stimulation of transformative momentum, and the advancement of restructuring efforts, aiming to build a more resilient, inclusive, and sustainable global financial system, according to the organizer.

Over 400 guests from more than 30 countries and regions around the world gather at this year's event. The forum, as an important window into China's financial cooperation and opening-up to the world, helps inject stability, draws greater attention from international capital, and enhances the country's overall appeal, Chinese experts said.

Major policies rollout

The FSF was established in 2012, and since 2020 its annual conference has been upgraded to a national-level, international professional forum, where government officials announce key financial policy and regulation reforms, with this year's forum being no exception.

At Monday's opening ceremony, Pan Gongsheng, governor of the People's Bank of China (PBOC), the central bank, said that at present the bond market is operating well overall, and the PBOC will resume open market operations involving government bonds.

Last year, in line with the directives of the central financial work conference, the central bank began conducting government bond transactions in the secondary market, said Pan. Earlier this year, considering the significant supply-demand imbalances in the bond market and the accumulation of market risks, the PBOC temporarily suspended these transactions.

However, Pan said, currently, with the bond market running smoothly overall, the central bank will resume open market government bond operations.

Also in his speech, Pan said that to help individuals expedite the repair of their credit records while maintaining the deterrent effect of default information, the PBOC is studying the implementation of a one-time personal credit relief policy.

Under the policy, personal default information related to loans below a certain amount that occurred during the pandemic and has since been repaid will not be displayed in the credit reporting system, according to Pan. The official noted that after completing the relevant procedures, the central bank, together with financial institutions, will carry out the necessary technical preparations, with the measure planned for implementation early next year.

Also at the opening ceremony, the launch of a work plan for optimizing the qualified foreign institutional investor (GFII) system was officially announced. The work plan includes measures to streamline access management, improve investment efficiency, and expand the investment scope, aiming to provide various foreign investors with a more transparent, convenient, and efficient regulatory environment, Wu Qing, chairman of the China Securities Regulatory Commission, said at the opening ceremony.

Among these, measures such as establishing a green channel for quota-based foreign investment access will be implemented immediately, according to Wu.

Li Yunze, head of the National Financial Regulatory Administration, said China will unswervingly deepen reform and expand opening-up, continuously enhancing the momentum and vitality of the financial sector.

Specifically, Li Yunze said the administration aims to create a new phase of high-level opening-up in finance by extending institutional opening-up to wider and deeper areas, and by fully implementing a system that combines pre-establishment national treatment with a negative list for market access.

Injecting new momentum

During the 14th Five-Year Plan period (2021-25), China's total economic output has passed several milestones and is expected to reach 140 trillion yuan this year, according to Xinhua News Agency. The country's contribution to global economic growth has remained around 30 percent, with an average annual growth rate of 5.5 percent, the report said.

The annual meeting is expected to inject new momentum into China's financial reform and opening-up, while contributing greater stability to the global economy, some Chinese experts told the Global Times on the sidelines of the forum.

The forum, serving as an important window into China's financial cooperation and opening-up to the world, helps attract more international capital, enhance the country's overall appeal, and contribute to world economic stability, especially amid global headwinds from rising protectionism and unilateralism, Li Changan, a professor at the Academy of China Open Economy Studies under the University of International Business and Economics, told the Global Times on Monday.

Li Changan said that by bringing together government officials, business leaders, and scholars, the forum also provides a valuable platform for the global community to better understand China's policy decisions in the financial field.

At the critical moment of the conclusion of the 14th Five-Year Plan period (2021-25), the financial officials' remarks send a fresh signal of the country's financial sector continuously promoting reform and expanding high-level opening-up during the next five years, Xi Junyang, a professor at the Shanghai University of Finance and Economics, told the Global Times on Monday.

By further enhancing the coordination of the macro-economy and the financial sector, it will better promote the sustained and healthy development of the economy and society, Xi Junyang said. Along with the enhancement of China's economic capacity, the country's financial sector is expected to open wider to the rest of the world, according to the expert.

"I'm confident in the prospects of China's economy. The economy is expected to maintain stable and upward trajectory during the 15th Five-Year Plan period (2026-30)," Xi Junyang said.

SOURCE Global Times