国家外汇管理局副局长刘斌：研究长期限、多品种、小币种等外汇市场发展问题｜2025外滩年会

Core Viewpoint - The National Foreign Exchange Administration is focusing on enhancing the foreign exchange management system in Shanghai to support its development as an international financial center, emphasizing convenience, openness, security, and intelligence in its approach [1]. Group 1: Expansion of Foreign Exchange System - The administration plans to steadily expand high-level institutional openness in the foreign exchange sector, balancing the internationalization of the Renminbi with high-quality capital account openness [2]. - There will be a focus on integrating domestic and foreign currency management, facilitating foreign financial institutions' investment in China, and enhancing the development of the foreign exchange market [2]. - The administration aims to support the foreign exchange trading center in strengthening its financial infrastructure and service capabilities, particularly in managing exchange rate risks as international transaction volumes grow [2]. Group 2: Facilitation of Cross-Border Trade and Investment - The administration will continue to promote reforms and innovations in foreign exchange management based on market demand and national conditions, providing higher convenience for compliant entities [2]. - The principle of "the more honest, the more convenient" will guide the administration's approach, ensuring that genuine transactions and compliant entities receive greater ease of fund usage [2]. - There is encouragement for Shanghai to implement pioneering and integrated exploratory policies, utilizing technologies like artificial intelligence and big data to offer smarter and more efficient foreign exchange services [2]. Group 3: Balancing Financial Openness and Security - The administration emphasizes that openness and convenience must be predicated on security, advocating for a dual management approach of "macro-prudential + micro-regulation" in the foreign exchange market [3]. - Effective risk prevention is deemed essential for high-quality development and high-level openness, with a focus on preventing risk transmission and accumulation across regions, markets, and borders [3].