外汇局副局长刘斌：健全“四更”外汇管理体制 助力上海金融中心建设

Core Insights - The State Administration of Foreign Exchange (SAFE) aims to enhance a more convenient, open, secure, and intelligent foreign exchange management system to support the development of Shanghai as an international financial center [1][2] - SAFE plans to steadily expand high-level institutional opening in the foreign exchange sector while balancing the internationalization of the Renminbi and high-quality opening of capital accounts [1] - There will be a focus on facilitating foreign financial institutions' investment in China and deepening the development of the foreign exchange market, including addressing issues related to long-term, multi-variety, and small currency foreign exchange market development [1] Group 1 - SAFE will promote the optimization of exchange rate risk management services by financial institutions as the demand for hedging becomes more diverse and personalized due to the expansion of international transaction scales [1] - The principle of "the more integrity, the more convenience" will be upheld, encouraging innovative and integrated exploratory policies in Shanghai, including the application of AI and big data for smarter and more efficient foreign exchange services [2] - SAFE emphasizes that both openness and convenience must be predicated on security, implementing a dual management approach of "macro-prudential + micro-regulation" to effectively prevent risk transmission across regions, markets, and borders [2] Group 2 - The ability to prevent risks will determine the degree of openness, with effective risk prevention being fundamental to high-quality development and high-level opening [2]