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When talking about financial reform, Li Keqiang said that China’s development is fundamentally dependent on reform and opening up. The reform of the financial sector has always been moving in the direction of marketization and rule of law. We adjust the RMB exchange rate mid-price quotation mechanism, which is in line with the changes in the international financial market and in line with market rules. The RMB does not have a basis for continued depreciation. In the next step, the Chinese government will expand the pilot reform of the Shanghai Free Trade Zone, accelerate the marketization of the RMB interest rate, gradually improve the RMB exchange rate formation mechanism, encourage financial innovation, promote a higher level of financial industry opening up, and enable financial development to serve entities more effectively. Economic Growth.
When talking about the capital market, Li Keqiang pointed out that since the beginning of this year, the international financial market has continued to fluctuate, and China's capital market, especially the stock market, has also experienced abnormal fluctuations. The relevant departments of the Chinese government have taken measures to stabilize the market in a timely manner to prevent possible systemic financial risks. This is in line with international practice and is also based on China's national conditions. We will continue to promote reforms, strengthen institutional development, and actively cultivate multi-level capital markets that are open, transparent, long-term, stable, and healthy.
Li Keqiang said that the new type of urbanization is the greatest potential of China's domestic demand and should follow the path of green sustainable development. I hope that the Paulson Foundation will play an active role in bringing more advanced concepts and technologies to China.
Paulson highly appreciated the Chinese government's efforts to actively promote financial reform and accelerate the construction of a free trade zone. He expressed his willingness to see the stable development of China's financial industry and improve its competitiveness in opening up. The United States and China have broad prospects for cooperation in areas such as green financing and sustainable urbanization, and the Foundation is willing to play an active role in this.
Abstract Premier Li Keqiang met with former US Treasury Secretary Paulson in Ziguangge, Zhongnanhai on the afternoon of the 22nd. When talking about financial reform, Li Keqiang said that China’s development is fundamentally dependent on reform and opening up. The reform of the financial sector has always been moving in the direction of marketization and rule of law. ...
Premier Li Keqiang met with former US Treasury Secretary Henry Paulson in Ziguangge, Zhongnanhai on the afternoon of the 22nd.