刘斌：从三方面入手提升上海跨境金融服务能级

Core Viewpoint - The National Foreign Exchange Administration aims to enhance Shanghai's cross-border financial services by establishing a more convenient, open, secure, and intelligent foreign exchange management system, supporting the city's development as an international financial center [1][2]. Group 1: Expansion of Foreign Exchange System - The administration plans to steadily expand high-level institutional openness in the foreign exchange sector, focusing on the integration of RMB internationalization and high-quality capital account opening [1]. - There will be an emphasis on facilitating foreign financial institutions' investment in China while deepening the development of the foreign exchange market [1]. - The administration will explore issues related to long-term, multi-variety, and small currency foreign exchange market development, enhancing the financial infrastructure and services of the foreign exchange trading center [1]. Group 2: Promotion of Cross-Border Trade and Investment - The administration will continue to innovate foreign exchange management reforms based on market demand and national conditions, providing higher convenience for compliant entities [1]. - There is encouragement for Shanghai to implement pioneering and integrated exploratory policies, utilizing technologies such as artificial intelligence and big data to offer smarter, more efficient, and secure foreign exchange services [1]. Group 3: Balancing Financial Openness and Security - The relationship between financial openness and security will be carefully managed, ensuring that convenience and openness are predicated on safety [2]. - The administration will strengthen the dual management of macro-prudential and micro-regulation in the foreign exchange market to prevent risks across regions, markets, and borders [2].