Xinhua Silk Road: Financial Street Forum annual conference concludes with discussions on national financial management center construction

BEIJING, Nov. 29, 2022 /PRNewswire/ -- The Annual Conference of Financial Street Forum 2022 closed amidst talks and discussions on deepening financial reform and opening up and fostering high-quality construction of Financial Street as the national financial management center on Wednesday.

Li Wenhong, head of Beijing Municipal Bureau of Local Financial Regulation and Supervision, said the bureau will continue to improve the service capacity and optimize financial industry structure in Beijing to strengthen Financial Street's role as the national financial management center and boost local financial development of higher quality in the new era.

Currently, around 1,900 financial institutions of varied types including 175 institution headquarters have settled along the Financial Street, where the Beijing Stock Exchange and Beijing Financial Court are also located, said Sun Shuo, secretary of CPC Beijing Xicheng district committee, adding that now Financial Street boasts more functions and better financial ecology. 

Beijing Xicheng District will strive to craft Financial Street into a national financial management center with complete financial functions, open financial market, top business environment and increasing international influence, according to Sun.

Held in the year when construction of the Financial Street in Xicheng District of Beijing already went through 30 years, the forum underpinned the role of the Financial Street as a window to showcase China's financial reform and opening up.

Chen Yuan, vice chairman of the 12th Chinese People's Political Consultative Conference National Committee, said this year's annual conference brought again a feast of ideas and thinking to present China's firm determination to further opening up and responsible contribution to global economic development.

On this occasion, review of history, summarization of experience and research over the existing challenges and future trends valued much to the modernization drive of Chinese economy, reckoned Zhang Xiangchen, deputy director-general of the World Trade Organization.

This year's forum was held during November 21-23 in Beijing. It was jointly organized by the People's Government of Beijing Municipality, the People's Bank of China, Xinhua News Agency, China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission and the State Administration of Foreign Exchange. 

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