Venture(US:VEMLY) Xin Jing Bao·2025-10-27 15:40Core Points - The 2025 Financial Street Forum Annual Meeting has commenced in Beijing, focusing on the next steps for China's financial sector in light of the recent 20th Central Committee's Fourth Plenary Session [1] - Key financial leaders emphasized the importance of implementing new policies and strategies to enhance the financial landscape in China [1] Group 1: Monetary Policy and Digital Currency - The People's Bank of China (PBOC) will resume public market operations for government bonds to improve monetary policy tools and enhance the financial function of government bonds [3][4] - The PBOC plans to optimize the management system for digital currency and support more commercial banks in becoming operational entities for digital currency [4][5] Group 2: Financial Supervision and Direct Financing - The National Financial Supervision Administration aims to create a new financial service model that balances direct and indirect financing, focusing on both physical and human investments [5][6] - The financial sector's total assets reached 512.1 trillion yuan, with the banking sector accounting for approximately 89.63% of this total [5] Group 3: Risk Management and Financial Stability - The administration will enhance risk management by promoting mergers and restructuring among small financial institutions and addressing non-performing assets [7] - China will strengthen international cooperation to monitor and respond to cross-border financial risks [7] Group 4: Capital Market Development - The China Securities Regulatory Commission (CSRC) will deepen reforms in the ChiNext market and enhance the quality of the Beijing Stock Exchange [8][10] - The CSRC plans to introduce a refinancing framework and improve corporate governance to stabilize the market [10][11] Group 5: Investor Protection - The CSRC will release new measures to strengthen the protection of small and medium investors, focusing on fair trading environments and enhancing service levels [11]