Everything You Need to Know | Shanghai Holds Press Conference to Introduce Relevant Information on the 2025 Lujiazui Forum

The Shanghai Municipal Government held a press conference today, inviting relevant responsible comrades from the Financial Affairs Office of the Shanghai Municipal Committee of the CPC, the General Office of the People's Bank of China (PBOC), the Shanghai Financial Regulatory Bureau, and the Shanghai Securities Regulatory Bureau to attend. They introduced the relevant details of the 2025 Lujiazui Forum and answered questions from reporters.

Several major financial policies will be released at the 2025 Lujiazui Forum.

At the press conference, Zhou Xiaoquan, Executive Deputy Director of the Financial Affairs Office of the Shanghai Municipal Committee of the CPC, stated that during the 2025 Lujiazui Forum, the central financial regulatory authorities will release several major financial policies.

PBOC Governor Pan Gongsheng will attend the opening ceremony of this year's Lujiazui Forum and deliver a keynote speech.

Li Kexin, Deputy Director of the General Office of the PBOC, stated at the press conference that the PBOC is accelerating the formulation of policies to support the construction of Shanghai as an international financial center. Since the beginning of this year, the PBOC and the Shanghai Municipal Government have jointly studied and introduced a series of policy measures to support the construction of Shanghai as an international financial center, with some policies having been released recently. For example, they jointly issued the "Action Plan for Further Enhancing the Convenience of Cross-border Financial Services in Shanghai's International Financial Center" and held a press conference. They support the establishment of a "Technology Board" in Shanghai's bond market, conduct pilot programs for cross-border capital pool businesses of multinational corporations in Shanghai, and support Shanghai in introducing the "Several Provisions on Promoting the Development of Free Trade Account Business in the China (Shanghai) Pilot Free Trade Zone in the Pudong New Area of Shanghai Municipality," among others. "There are also some other policies that we are vigorously accelerating the formulation of," Li Kexin said.

He also stated that PBOC Governor Pan Gongsheng will attend the opening ceremony of the forum, deliver an opening speech, and give a keynote address. In addition, Zhu Hexin, Deputy Governor of the PBOC and Director of the State Administration of Foreign Exchange, will also attend and deliver a keynote speech.

Shanghai: Will Establish More Financial Trading Mechanisms and Regulatory Systems Aligned with International Rules in the Pudong Leading Zone, Pilot Free Trade Zone, and Lingang Special Area

At the press conference, Zhou Xiaoquan, Executive Deputy Director of the Financial Affairs Office of the Shanghai Municipal Committee of the CPC, stated that in the next step, they will also cooperate with the central financial regulatory authorities to steadily expand high-level financial opening-up. First, they will better leverage the role of finance as a "pilot field." Focusing on institutional opening-up, they will establish more financial trading mechanisms and regulatory systems aligned with international rules in the Pudong Leading Zone, Pilot Free Trade Zone, and Lingang Special Area, to test institutions and explore new paths for the country. Second, they will better expand the achievements of two-way opening-up. Adhering to the principles of "bringing in" and "going global," on the one hand, they will continuously enhance the internationalization level of the financial market and attract more foreign-funded financial institutions to operate and develop in Shanghai. On the other hand, they will implement the action plan for facilitating cross-border financial services and strengthen the financial sector's ability to support "going global" enterprises and high-quality joint construction of the "Belt and Road."Third, we will better coordinate opening-up and security. We will actively participate in international financial regulatory exchanges and cooperation, effectively enhance our capacity to prevent and control financial risks, and firmly hold the bottom line of preventing systemic financial risks.

Shanghai: Accelerating the Construction of an International Reinsurance Center and Enriching International Financial Products

Zhou Xiaoquan, Executive Deputy Director of the Shanghai Municipal Financial Services Office, stated at the press conference that international financial organizations and foreign-funded financial institutions are accelerating their concentration in Shanghai, with a total of 1,782 licensed financial institutions of various types, of which foreign-funded financial institutions account for approximately one-third. The construction of Shanghai's international reinsurance center is accelerating, enriching international financial products. Six international varieties, including crude oil, No. 20 rubber, low-sulfur fuel oil, international copper, container freight index futures, and crude oil options, are available for overseas traders to directly participate in trading. The cumulative issuance scale of "Yulan Bonds" has surpassed the 10 billion yuan mark, with the Luxembourg Stock Exchange becoming the first exchange in Europe to list "Yulan Bonds."