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Economic Observation Network On October 27th, Pan Gongsheng, the Governor of the People's Bank of China, stated at the 2025 Financial Street Forum Annual Meeting that international financial organizations and central banks and other financial regulatory authorities generally hold a cautious attitude towards the development of stablecoins. 10 days ago, at the annual meetings of the International Monetary Fund (IMF) and the World Bank held in Washington, D.C., stablecoins and their potential financial risks became one of the most discussed topics among finance ministers and central bank governors of various countries. The common view was that stablecoins, as a financial activity, cannot effectively meet the basic requirements of customer identification and anti money laundering at this stage, amplifying the loopholes in global financial regulation, such as money laundering, illegal cross-border transfer of funds, terrorist financing, etc. The atmosphere of market speculation and speculation is strong, increasing the vulnerability of the global financial system and impacting the monetary sovereignty of some underdeveloped economies. Since 2017, the People's Bank of China, together with relevant departments, has successively issued multiple policy documents to prevent and deal with the risks of domestic virtual currency trading speculation. Currently, these policy documents are still effective. Next, the People's Bank of China will continue to work with law enforcement agencies to crack down on the operation and speculation of domestic virtual currencies, maintain economic and financial order, and closely track and dynamically evaluate the development of overseas stablecoins.
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Economic Observation NetworkAccording to the CCTV news client, Pan Gongsheng, the governor of the People's Bank of China, said at the 2025 Financial Street Forum annual meeting on October 27 that at the beginning of this year, the People's Bank of China suspended the trading of treasury bond in view of the large pressure of imbalance between supply and demand in the bond market and the accumulation of market risks. At present, the bond market is running well as a whole, and the People's Bank of China will resume trading treasury bond bonds in the open market.
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Economic Observation Network The 2025 Financial Street Forum Annual Meeting will be held in Beijing on October 28th. The Governor of the People's Bank of China, Pan Gongsheng, stated at the forum that he will study and implement policy measures to support individuals in repairing their credit. According to the Regulations on the Administration of Credit Reporting Industry, the duration of default records in the credit reporting system is 5 years. In the past few years, affected by force majeure such as the COVID-19, some individuals have overdue debts. Although they have paid in full afterwards, their credit records continue to affect their economic life. In order to help individuals accelerate the repair of their credit records and exert the restraining effect of default credit records, the People's Bank of China is studying and implementing a one-time personal credit relief policy. For individuals who have defaulted below a certain amount since the epidemic and have already repaid their loans, their default information will not be displayed in the credit collection system. This measure will undergo necessary technical preparations by the People's Bank of China in conjunction with financial institutions after completing relevant procedures, and is planned to be implemented early next year.
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Economic Observation NetworkAccording to CCTV News App, the 2025 Financial Street Forum Annual Meeting was held in Beijing today. The theme of this forum is "Global Financial Development under Innovation, Transformation, and Reshaping", and more than 400 important guests from over 30 countries and regions around the world attended the forum.
The Governor of the People's Bank of China, Pan Gongsheng, stated at the forum that,In the future, the People's Bank of China will further optimize the management system of digital RMB, study and optimize the positioning of digital RMB in the currency level, and support more commercial banks to become digital RMB business operators. The People's Bank of China has established a digital RMB international operation center in Shanghai, responsible for cross-border cooperation and use of digital RMB; Establish a digital RMB operation and management center in Beijing, responsible for the construction, operation, and maintenance of the digital RMB system, promoting the development of digital RMB, and assisting in the construction of the capital's national financial management center.
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Economic Observation Network On October 27th, Wu Qing, Chairman of the China Securities Regulatory Commission, stated at the 2025 Financial Street Forum Annual Meeting that the "Work Plan for Optimizing the Qualified Foreign Investor System" was officially launched on the same day, including optimizing access management, improving investment operation efficiency, expanding investment scope, etc., striving to provide a more transparent, convenient, and efficient institutional environment for various types of foreign investors. Two measures, namely the efficient completion of qualification approval and account opening, and the implementation of a green channel for the admission of configured foreign investment, will be implemented on the same day.
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Economic Observation NetworkAt the listing ceremony of the first batch of newly registered enterprises in the science and technology innovation growth layer of the Science and Technology Innovation Board held today, Li Chao, Vice Chairman of the China Securities Regulatory Commission, stated that the China Securities Regulatory Commission will solidly promote the relevant work of the "15th Five Year Plan" capital market plan, take deepening the reform of the Science and Technology Innovation Board and the Growth Enterprise Market as the starting point, comprehensively promote the implementation of a new round of capital market reform, continuously improve institutional inclusiveness and adaptability, and improve the capital market function that coordinates investment and financing.
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Economic Observation Network According to First Financial News, on October 28th, at the listing ceremony of the first batch of newly registered enterprises in the science and technology innovation growth layer of the Science and Technology Innovation Board, Li Chao, Vice Chairman of the China Securities Regulatory Commission, stated that the China Securities Regulatory Commission will solidly promote the relevant work of the "15th Five Year Plan" capital market planning, take deepening the reform of the Science and Technology Innovation Board and the Growth Enterprise Market as the focus, comprehensively promote the implementation of a new round of capital market reform, continuously improve institutional inclusiveness and adaptability, and improve the capital market function that coordinates investment and financing.
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Economic Observation NetworkAccording to CCTV News App, at today's Financial Street Forum, Wu Qing, Chairman of the China Securities Regulatory Commission, stated that,We will launch a refinancing shelf issuance system at an appropriate time to further expand the channels for supporting mergers and acquisitionsPromote industrial integration, optimization and strengthening of listed companies.
The refinancing and shelving issuance system is an institutional arrangement for listed companies to refinancing, in simple terms, it isOne registration, multiple issuances. That is to say, listed companies only need to submit registration documents to regulatory authorities once, and after obtaining approval, they can issue securities in multiple installments within the prescribed time.
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Economic Observation Network On October 27, 2025, the 2025 Financial Street Forum Annual Meeting with the theme of "Global Financial Development under Innovation, Transformation, and Reshaping" was grandly held on Beijing Financial Street. As a comprehensive strategic partner of the forum, Bank of Beijing has been deeply involved for the fifth consecutive year and fully supports the organization of the forum. This forum is jointly hosted by the Beijing Municipal People's Government, the People's Bank of China, the State Administration for Financial Regulation, the China Securities Regulatory Commission, Xinhua News Agency, and the State Administration of Foreign Exchange. It is also organized by the Beijing Local Financial Administration, the Xicheng District People's Government, and the Beijing Financial Street Service Bureau. The annual meeting adopts the overall framework of "main forum+parallel forum+fintech conference+supporting activities", covering 27 topic activities, 6 investment and financing docking activities, and 11 fintech conference activities.
During the annual conference of this forum, Bank of Beijing will host a parallel forum on "Creating a Leapfrog Development New Ecology for Technology Enterprises", focusing on cutting-edge topics such as financial technology innovation, cross-border finance empowering technology enterprise globalization, economic complexity and artificial intelligence transformation. Leaders, guests, experts and scholars from governments, internationally renowned financial groups and technology enterprises will be invited to conduct in-depth exchanges and build a high-level financial dialogue platform. At the same time, Bank of Beijing will release multiple financial service achievements, including technology finance product upgrades, investment bank driven commercial bank achievement displays, zero carbon park construction, green credit support, and "specialized, refined, unique, and new" enterprise comprehensive insurance services.
In addition, Bank of Beijing will deeply participate in six investment and financing docking events, focusing on four major fields: artificial intelligence, digital transformation, green energy, and future industries. Through the dual wheel drive of "enterprise roadshow+exhibition display", we will jointly build efficient channels for industry finance docking and carry out "one-on-one" negotiations and financial product resource matching. In the outdoor communication space of the annual meeting, Beijing Bank has created an immersive financial service experience booth, vividly presenting the corporate mission of "a bank that accompanies you for a lifetime", incorporating hard technology elements. Visitors can experience AI interaction and intelligent financial scenes in the exhibition area. (Reporter Liu Peng)
