The Lujiazui Forum in Shanghai kicked off this Wednesday with a burst of exciting financial policy announcements. In a dynamic opening session, top officials from the Chinese mainland's financial institutions unveiled eight key measures designed to modernize and energize the market. Among these, People's Bank of China Governor Pan Gongsheng introduced plans for an international operations centre for the digital yuan—a move aimed at boosting the renminbi's global influence. 🚀
Officials are not stopping there. Li Yunze, head of the National Financial Regulatory Administration, outlined innovative pilot programs such as equity investments and mergers and acquisitions loans for technology companies, paving the way for new sci-tech finance developments. Meanwhile, Wu Qing from the China Securities Regulatory Commission emphasized enhancing the STAR Market as a demonstration zone by rolling out a "1+6" policy package. This includes launching a sci-tech growth tier and updating listing criteria for unprofitable enterprises, all to strengthen investor protection and breathe new life into investment and financing reforms.
Additionally, Zhu Hexin, governor of the State Administration of Foreign Exchange, revealed plans to allocate a fresh batch of Qualified Domestic Institutional Investor quotas. This strategic move is set to meet domestic entities' legitimate overseas investment demands, further promoting robust domestic investment.
These transformative initiatives signal a dynamic push towards financial innovation and market reform on the Chinese mainland. As the landscape evolves, keep an eye out for more updates on these bold moves that are set to reshape the future of finance!
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Lujiazui Forum opens with major financial policy announcements
cgtn.com
