China Holds Discussion with Foreign Financial Institutions and Enterprises to Boost Foreign Investment

On September 18, 2023, the People’s Bank of China and the State Administration of Foreign Exchange, represented by Pan Gongsheng, Secretary of the Party Committee and Governor of the People’s Bank of China, and Secretary of the Party Committee and Director of the State Administration of Foreign Exchange, hosted a discussion with foreign financial institutions and enterprises. The meeting aimed to gather insights and suggestions and explore ways to enhance financial support for stable foreign trade and foreign investment while further improving the investment environment for foreign businesses.

Foreign financial institutions and companies such as JPMorgan Chase, HSBC, Deutsche Bank, BNP Paribas, UBS Securities, Mitsubishi UFJ Financial Group, Tesla, BASF, Toko, and Schneider participated in the discussion. Luo Lei, Deputy Director of the State Administration of Foreign Exchange, and officials from the People’s Bank of China and the State Administration of Foreign Exchange were also present.

During the meeting, leaders of foreign financial institutions and enterprises presented their business situations in China. They generally acknowledged that in recent years, China’s financial industry has steadily opened up, enhancing its ability to provide financial services to foreign trade and investment. They expressed hope for further improvement in relevant policy arrangements and the continuous optimization of the business environment. Pan Gongsheng attentively listened to everyone’s opinions and suggestions, engaged in in-depth discussions on issues of concern to enterprises, and provided responses to some of the suggestions on the spot.

Pan Gongsheng emphasized that actively attracting and utilizing foreign investment is a crucial aspect of advancing high-level openness to the outside world and building a new open economic system. In recent years, guided by Xi Jinping’s Thought on Socialism with Chinese Characteristics for a New Era, the People’s Bank of China and the State Administration of Foreign Exchange have diligently implemented the decisions and arrangements of the Party Central Committee and the State Council. Together with financial regulatory authorities, they have made significant progress in expanding market access in the financial service sector, promoting two-way opening of financial markets, and reforming the foreign exchange management system. In the next steps, they will earnestly implement the requirements of the State Council’s Opinion on Further Optimizing the Business Environment for Foreign Investment and increasing efforts to attract foreign investment. This includes continuous policy optimization to create a first-class business environment that is market-oriented, rule-of-law-based, and internationalized, as well as the ongoing enhancement of the quality and effectiveness of financial services, all contributing to a high-level opening to the outside world.