Core Insights - The financial sector's opening is a crucial part of China's reform and opening-up strategy, with accelerated steps during the "14th Five-Year Plan" period, enhancing the international competitiveness and influence of the financial industry [1] Group 1: Global Financial Governance - The People's Bank of China (PBOC) actively participates in global financial governance through platforms like G20, IMF, and regional mechanisms such as ASEAN+3, aiming to create a fairer global financial governance structure [1][2] - Continuous cooperation with the IMF includes pushing for quota reforms and establishing an IMF Shanghai Center [2] - The PBOC has proposed principles for cross-border digital currency infrastructure, emphasizing "no loss, compliance, and interoperability" [2] Group 2: International Monetary System Reform - Post-2008 financial crisis, discussions on reforming the international monetary system have intensified, focusing on reducing reliance on a single sovereign currency and promoting a multipolar currency system [2][3] - The RMB's international status has steadily improved, contributing to a more balanced and equitable international monetary system [3] Group 3: Hong Kong Financial Cooperation - The PBOC has implemented measures to deepen financial cooperation between the mainland and Hong Kong, enhancing Hong Kong's status as an international financial center [3][4] - Hong Kong serves as the largest offshore RMB business hub, with policies to support the development of the offshore RMB market and facilitate RMB bond issuance [4] - The "Bond Connect" program has been established to facilitate cross-border investment in bond markets, with significant growth in transaction volumes [5] Group 4: Payment Systems and Cross-Border Transactions - The "Cross-Border Payment Link" launched in June 2025 enhances real-time small cross-border remittances between the mainland and Hong Kong, significantly improving remittance efficiency [6] - As of July 2025, over 700,000 transactions have been processed through this system, involving a total amount exceeding 4 billion RMB [6]
深化金融业高水平开放 积极参与全球金融治理 ——《金融时报》访中国人民银行国际司(港澳台办公室)负责人
Jin Rong Shi Bao·2025-10-22 09:37