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Major achievements unveiled as 2026 Financial Street Forum enters third day

China

China

China

Major achievements unveiled as 2026 Financial Street Forum enters third day

2026-10-21 17:20 Last Updated At:10-22 12:08

The 2026 Financial Street Forum annual conference entered its third day on Wednesday, hosting over a dozen thematic sessions and unveiling a series of achievements in venture capital, capital market services, and digital finance.

A key highlight of the day was the venture capital development conference, a major event under the broader investment conference, which featured in-depth discussions on integrating industry and finance and cultivating "patient capital" to support long-term economic development.

To better support small and medium-sized innovative enterprises, the "Beijing Stock Exchange and National Equities Exchange and Quotations (NEEQ) Enterprise Service Zone" was officially established. The newly launched zone aims to create a one-stop capital market service and matchmaking platform for emerging businesses.

Additionally, the forum announced several digital finance developments. These included the rollout of new systems related to the People's Bank of China's digital currency (e-CNY) and the unveiling of the e-CNY smart contract ecosystem service framework, marking further advancements in the country's digital financial infrastructure.

The Financial Street Forum, launched in 2012 as a platform for global exchange and cooperation in finance, has grown into a major source of updates on China's financial policies, offering a window into the financial sector's priorities in the world's second-largest economy.

This year's annual conference runs from Monday to Thursday.

Major achievements unveiled as 2026 Financial Street Forum enters third day

Major achievements unveiled as 2026 Financial Street Forum enters third day

The current El Nino event could be unprecedented in strength, literally off the monitoring charts that have been used for the past four decades, said Celeste Saulo, secretary-general of the World Meteorological Organization (WMO), on Wednesday.

The WMO released its latest Global Seasonal Climate Update at a briefing in Geneva, Switzerland.

"The World Meteorological Organization is today releasing a new seasonal climate outlook, which indicates that the current El Nino event could be unprecedented in strength, literally off the monitoring charts that we have used for the past four decades. El Nino will peak towards the end of 2026, but its impacts will be felt long after that," said Saulo at the briefing.

"Our latest global seasonal climate update forecasts that sea surface temperatures in the tropical Pacific -- the epicenter of El Nino -- may rise to 3.8 degrees Celsius above average during November 2026 to January 2027," she added.

The WMO called on all countries to enhance early warning and disaster prevention capabilities, noting that El Nino is expected to further bring heavy rain and flood risks to some regions in eastern Africa, droughts to southern Africa, high temperatures and insufficient precipitation to Southeast Asia, and abnormal rainfall or drought to some regions in the Americas.

Current El Nino event could be unprecedented in strength: WMO

Current El Nino event could be unprecedented in strength: WMO

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