Pan Gongsheng, Governor of the People's Bank of China: Steadily promote the institutional opening of the financial services industry and financial markets, and expand the connectivity between domestic and international financial markets.

On November 6, the People's Bank of China held a symposium for foreign financial institutions to listen to their opinions and suggestions, discuss further optimization of the business environment, and promote high-level opening up of the financial industry. During the symposium, Pan Gongsheng, the Secretary of the Party Committee and Governor of the People's Bank of China, elaborated on the current monetary policy stance and considerations for adjusting the monetary policy framework. He also introduced the progress of high-level opening up of the financial industry and the comprehensive financial increment policies, listened to opinions and suggestions, and responded to issues of concern from various institutions. Pan Gongsheng pointed out that the fundamental conditions of the Chinese economy, the vast market, strong economic resilience, and great potential remain unchanged. In particular, since the implementation of the comprehensive financial increment policies, both domestic and international evaluations have been positive, which has significantly boosted social confidence. The People's Bank of China will conscientiously implement the decisions and arrangements of the Party Central Committee and the State Council, balance economic growth speed and quality, domestic and external factors, investment and consumption dynamics, continue to adhere to supportive monetary policies, strengthen communication with the market, and continuously improve the quality and efficiency of financial services. It will steadily promote the institutional opening up of the financial services industry and financial markets, expand connectivity between domestic and international financial markets, facilitate trade and investment, create a first-class market-oriented, rule-of-law, and international business environment, and promote sustained economic recovery and high-quality financial development. The symposium was attended by leaders of 11 foreign financial institutions including HSBC, Bank of East Asia, Standard Chartered Bank, Citibank, DBS Bank Singapore, MUFG Bank Japan, JPMorgan Chase Bank, Industrial Bank of France, Deutsche Bank, Bank of Montreal Canada, and Morgan Stanley. Officials from the People's Bank of China, the State Administration of Foreign Exchange, and relevant departments and units also participated in the symposium.