Chen Yulu, Vice President of the People's Bank of China, said at the 11th China-ASEAN Leadership Forum on Financial Cooperation and Development and the Summit on Building an Open Financial Portal for ASEAN on September 22 that the establishment of an open financial portal for ASEAN is of great significance for further deepening China-ASEAN financial exchanges and cooperation.
"Opening up the financial industry is an important part of building a new pattern of comprehensive opening up in China, and it is also an important part of structural reform of China's financial supply side. Once the opening door is opened, it will not be closed again." Chen Yulu said that the construction of an open financial portal for ASEAN is an important measure for China to unswervingly expand the opening of its financial industry to the outside world. We will continue to support the construction of Guangxi's financial open portal and accumulate more replicable and popularizable experience for China's financial opening up through Guangxi's practice and exploration.
Chen Yulu said that we should promote the construction of "one belt and one road" through the construction of financial opening portals facing ASEAN. ASEAN is an important way for the maritime Silk Road in twenty-first Century. Guangxi will be able to seize the opportunity to integrate the opening of the financial gateway into the "one belt and one road" and serve the new channel of international land and sea trade. In the financial market, through the interconnection of financial infrastructure to deepen market financing capacity, attracting more ASEAN investors to participate in the Chinese market. In terms of financial institutions, ASEAN financial institutions should be actively attracted to gather in Guangxi, and domestic financial institutions should be encouraged to "go out" to expand their business in more ASEAN countries. In terms of financial services, innovation provides a wealth of financial products and risk management tools to better meet the "one belt" investment and financing endogenous demand.
Chen Yulu emphasized that the reform and opening up of financial industry should be based on serving the high-quality development of the real economy. As a platform for exchange and exchange, the fundamental purpose of Guangxi Financial Open Portal is to better promote China-ASEAN economic and trade cooperation and better serve the real economic development of both sides by promoting the orderly and free flow of economic factors. Among them, China-ASEAN key industry cooperation, China-ASEAN interconnection project construction, green financial development cooperation and other fields are expected to become new momentum of economic development, and promote the transformation and upgrading of the real economy of both sides. Therefore, we should optimize the business environment, improve cross-border financial infrastructure, formulate necessary supporting policies and supporting measures to build a better financial ecology for foreign economic and trade cooperation. Through the development of multi-level financial markets, the construction of diversified investment and financing institutions, and the active development of equity investment cooperation, we can meet the financing needs of all parties to expand economic and trade cooperation.
At the same time, the construction of financial open portal will help China and ASEAN countries to strengthen financial supervision cooperation and better prevent cross-border financial risks. "In the process of building an open financial portal, we will actively explore the construction of a regional financial safety net and firmly adhere to the bottom line of avoiding systemic financial risks." Chen Yulu pointed out that while expanding the opening up of the financial industry, China also attaches great importance to improving the financial regulatory system to match the regulatory capacity with the degree of opening up. China will strengthen cross-border financial supervision and coordination with ASEAN countries, and strengthen communication in macro-risk dynamic monitoring, cross-border fund monitoring and management, and financial supervision information sharing. At the same time, we should promote multilateral and bilateral coordination on major monetary and financial policies and take more initiative in risk management.