The Lujiazui Forum kicked off in Shanghai on Wednesday, where top financial officials from the Chinese mainland rolled out eight policy measures to boost the renminbi's international role and drive technology financing.
Pan Gongsheng, governor of the People's Bank of China, announced plans to establish an international operations centre for the digital yuan. He also detailed pilot programs to test a range of structural monetary tools in Shanghai, aiming for more targeted liquidity management.
Li Yunze, head of the National Financial Regulatory Administration, revealed that the regulator is advancing pilot projects such as equity investments and mergers and acquisitions loans to unlock new pathways for science and technology finance.
Wu Qing, chairman of the China Securities Regulatory Commission, highlighted a new policy package for the STAR Market, known as the 1+6 reform plan. Key steps include launching a sci-tech growth tier and bringing back a set of listing criteria for enterprises that are not yet profitable.
Zhu Hexin, governor of the State Administration of Foreign Exchange, said a fresh batch of Qualified Domestic Institutional Investor quotas will soon be allocated, meeting domestic institutions' needs for legitimate overseas investments.
These moves signal a comprehensive push by the Chinese mainland to deepen financial reforms, support homegrown innovation, and cement the renminbi's standing in global markets.
Reference(s):
Lujiazui Forum opens with major financial policy announcements
cgtn.com
