Pan Gongsheng: The modernization of China's financial governance system and governance capacity has reached a new level.

Governor of the People's Bank of China, Pan Gongsheng, stated today at a press conference hosted by the State Council Information Office that, under the strong leadership of the Party Central Committee, China's financial industry has achieved significant new achievements. The comprehensive deepening of financial system reform has been further improved, the top-level design has become more perfect, and our country's financial governance system and governance capabilities have entered a new stage of modernization; the system of diverse and competitive financial institutions, markets, and products has become more sound, and the quality, efficiency, and inclusiveness of financial services have greatly improved; financial risks in key areas have been orderly resolved, ensuring that the bottom line of preventing systemic financial risks is maintained; the pace of opening up in the financial sector has accelerated, significantly enhancing the international competitiveness and influence of China's financial industry. As of the end of June this year, the total assets of the Chinese banking industry reached nearly 47 trillion yuan, ranking first in the world; the stock and bond markets rank second in the world; and the scale of foreign exchange reserves has ranked first in the world for 20 consecutive years. China leads the world in green finance, inclusive finance, digital finance, and has basically established a multi-channel, widely covered, and safe and efficient RMB cross-border payment clearing network, with mobile payments at an international leading level. First, further deepening of financial system reform. Second, significant improvement in the quality and efficiency of financial services to the real economy. Third, continuous advancement of financial industry reform and opening up. Fourth, important achievements in preventing and resolving financial risks. During the "14th Five-Year Plan" period, the average annual growth rate of loans to technology-oriented small and medium-sized enterprises, inclusive small and micro enterprises, and green loans exceeded 20%. Since the September 2024 Central Political Bureau meeting, the People's Bank of China has issued a series of monetary and financial policy measures in accordance with central deployment, effectively stabilizing market expectations, boosting confidence, and promoting sustained economic recovery and high-quality development.