Group 1: Global Financial Governance - The core message emphasizes the need for dialogue and cooperation among all parties to improve global financial governance, advocating for reform, openness, and multilateralism [1] - The discussion on the international monetary system has evolved, with current debates focusing on reducing reliance on a single sovereign currency and exploring the role of a supranational currency like the IMF's Special Drawing Rights (SDR) [2][3] Group 2: Cross-Border Payment Systems - There is a growing demand for improvements in the traditional cross-border payment systems, with emerging payment infrastructures and settlement methods driving the evolution towards more efficient, secure, and inclusive systems [3] - Three major trends in cross-border payments are identified: diversification of payment systems, enhanced interoperability, and accelerated application of new technologies [3] Group 3: Global Financial Stability - Post-2008 financial crisis, the global financial safety net has been strengthened, with the IMF enhancing its crisis response capabilities and various regional financial stability mechanisms being established [4] - China has signed bilateral currency swap agreements with over 30 countries, contributing to the global financial safety net [4] Group 4: Challenges in Financial Stability - The current regulatory framework is fragmented, with risks of regulatory arbitrage and insufficient oversight in emerging areas like digital finance [5] Group 5: Governance of International Financial Organizations - The governance of international financial organizations like the IMF and World Bank needs reform to better reflect the actual economic standing of emerging markets and developing countries [6][7] - The IMF's quota system, which determines its crisis response capacity and member voting rights, requires adjustments to enhance its legitimacy and representation [7]

Group 1 - The People's Bank of China has signed bilateral currency swap agreements with over 30 countries and regions, becoming an important part of the global financial safety net [1] - China actively participates in the formulation and implementation of international financial regulatory standards and is one of the few economies to fully implement Basel III [1] - The regulatory framework for systemically important financial institutions has been established, with all major Chinese banks meeting total loss-absorbing capacity requirements [1] - A deposit insurance system has been established, providing full protection for over 99% of depositors [1] - The implementation of new asset management regulations has significantly reduced shadow banking risks [1] Group 2 - International financial organizations like the IMF and World Bank need to reform governance to reflect the relative positions of member countries in the global economy [2] - Emerging markets and developing countries have a significantly lower share and voting power in international financial organizations compared to their actual position in the global economy [2] - The international community should address the unilateral policies of certain member countries that interfere with the governance and operation of international financial organizations [2] - There is a need to enhance the voice and representation of emerging markets and developing countries to uphold true multilateralism and improve governance efficiency [2] Group 3 - The traditional cross-border payment system has faced increasing challenges, leading to a global call for improvements [3] - New payment infrastructures and settlement methods are emerging, driving the development of a more efficient, secure, inclusive, and diverse global cross-border payment system [3] - China has established a multi-channel and widely covered cross-border payment and clearing network for the renminbi after over a decade of development [3]