China's financial system needs to advance risk prevention, strengthen regulation, promote high-quality development and push for high-standard opening-up, Chinese Vice Premier He Lifeng said on Monday.
He, who is also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at the opening ceremony of the Annual Conference of Financial Street Forum 2025 in Beijing. Significant progress has been made in the development of the financial sector during the 14th Five-Year Plan period (2021-2025), under the strong leadership of the CPC Central Committee, he said.
The 15th Five-Year Plan period (2026-2030) will be a key time for the goal of basically achieving socialist modernization by 2035, and it will also be a key period to promote high-quality financial development and accelerate the push to become a country with a strong financial sector, he said, adding that the sector should participate actively and effectively in the implementation of the 15th Five-Year Plan.
In the world today, changes rarely seen in a century are unfolding at an accelerating pace, presenting both challenges and opportunities in the international financial markets, he said, noting that China is willing to work with all parties to research global financial governance and advance reforms in the area.
Yin Li, who is a member of the Political Bureau of the CPC Central Committee and secretary of the CPC Beijing Municipal Committee, also attended the opening ceremony.
Chinese vice premier urges high-standard opening-up of financial system
Canadian Prime Minister Mark Carney's official visit to China signals a policy shift towards building a more pragmatic relationship between the two countries, according to a Canadian researcher.
Carney arrived in Beijing on Wednesday to begin an official visit to China through Saturday, which marks the first trip by a Canadian Prime Minister to the country in eight years.
Robert Hanlon, director and principal investigator of Canada and the Asia Pacific Policy Project (CAPPP) at Thompson Rivers University in British Columbia, told the China Global Television Network (CGTN) that Carney's visit indicates Canada is recalibrating its strategic perception of China, which could cement the foundation for the country's economic diversification efforts and boost the development of bilateral cooperation.
"I think it's a clear message that he has moved Canada's strategy to a much more pragmatic, interest-based, -focused relationship with our trading partners, moving away from values-based narratives that we might have heard on previous governments. Canada has spoken about moving from what the Prime Minister's Office is calling "from reliance to resilience", and that means diversifying our economies and our trade everywhere in the world. And so China being our second largest trading partner, it makes perfect sense for our PM to head to Beijing," he said.
The scholar also noted the huge cooperation potential between the two sides in economic and trade fields, citing Canada's efforts to step up shipments of liquefied natural gas (LNG) and the planned construction of an oil pipeline in Alberta which aims to increase export access to Asian markets. "Canada and China both share tremendous economic opportunities together and so finding ways to enhance our exports. Canada specifically looking to build out its LNG and oil, kind of export market. We know Canada is a major producer of critical minerals and China is a buyer. And so there's a lot of synergy between that kind of those kind of markets," he said.
Canadian PM's visit to China paves way for more pragmatic trade ties: scholar
