Guests note "enormous potential" in China as Financial Street Forum 2026 concludes

The Annual Conference of the Financial Street Forum 2026 concluded in Beijing on Thursday, where major figures in global finance gained crucial insights into China’s fast-maturing financial sector over the past four days.

This year's conference attracted prominent guests from all over the world to take part in the main forum, parallel forums, thematic conferences and side events. These were guided by the overarching theme, "Building an Open, Collaborative and Inclusive Ecosystem for Global Financial Development."

An annual report on the development of Beijing's Financial Street was released during the session. According to the report, the financial industry in Financial Street achieved an added value of over 298 billion yuan (about 44 billion U.S. dollars) last year, up 8.7 percent year on year.

The forum, inaugurated in 2012 as a platform for global exchange and cooperation in the field of finance, has grown into a major source of updates on China's financial policies, providing a window into the work priorities of the financial sector in the world's second-largest economy. This year, leaders of major global financial institutions took careful note of the rapid changes occurring in the country's overall economic structure.

"I think there's an enormous potential here, key sectors, whether it's robotics, pharmaceuticals, artificial intelligence, these are the leading technologies of the 21st century. So enormous interest around the world to invest here. It's certainly become much more mature and much more visible. Chinese banks and financial firms are much more prominent around the world," said Tim Adams, president and CEO of the Institute of International Finance (IIF), a global association of financial institutions based in Washington, D.C.

Among the key achievements of the event, a dedicated service zone was launched for companies listed on or aspiring to join the Beijing Stock Exchange (BSE) and the National Equities Exchange and Quotations (NEEQ), also known as the "New Third Board", providing a one-stop capital market service platform for small and medium-sized innovative enterprises.

The forum also focused on global financial integration. A crucial outcome in this regard was the release of a White Paper on Financial Rule-of-Law Services Guaranteeing the Belt and Road Initiative, identifying risks in cross-border transactions and outlining judicial rules and guidelines for dispute resolution. Several financial institutions also rolled out new cross-border financial products and services during the event, building smoother investment channels for Chinese companies expanding overseas and for foreign capital coming to China.

Altogether, more than 100 institutional, technological and research achievements were released by a diverse range of entities, including national financial regulatory authorities, research institutes and financial institutions.

Guests note "enormous potential" in China as Financial Street Forum 2026 concludes

The U.S. and Israeli militaries have drawn up concrete plans to launch another military strike on Iran after the U.S. midterm elections, The New York Times reported Wednesday, citing U.S. officials and other informed sources.

However, it remains uncertain how effective the reported new round of strikes would be and whether U.S. President Donald Trump will approve the plan.

The report said the United States and Israel are planning a short but intense operation, with possible targets including Iran's energy infrastructure, nuclear facilities, and missile and drone stockpiles. The two sides have also stepped up joint drills, including simulated strikes by military aircraft flying over Iraq.

Also on Wednesday, CBS News, citing government officials and military sources, reported that the U.S. military is "quietly" scaling back its troop presence at bases across the Middle East due to the ongoing regional threat posed by Yemen's Houthi group and the direct threat from Iran. NBC News reported Thursday that the U.S. military is cutting troop levels in Jordan, Qatar and Kuwait.

The U.S. Central Command (CENTCOM) declined to comment on the reports.

U.S. State Department spokesman Tommy Pigott said Wednesday in a social media post that the department had ordered the departure of "non-emergency" government employees and their families from the U.S. Embassy in Saudi Arabia.

The NBC News report said that the military drawdown and the ordered departures are similar to the U.S. moves to scale back its military presence and embassy staff before launching military strikes on Iran in late February this year.

Separately, Israeli and U.S. media reported Wednesday that from Monday night to early Tuesday, dozens of Israeli fighter jets and aerial refueling aircraft took off from the Nevatim Air Base in southern Israel, crossed Syrian and Iraqi airspace and approached the Iranian border.

According to the reports, the Israeli warplanes turned back just before entering Iranian airspace, following a route highly similar to an attack path against Iran. The reports cited relevant sources as saying that some Israeli officials were in fact trying to provoke Iran into firing on the jets, creating a pretext for an Israeli strike.

The Times of Israel reported Wednesday that Israeli Prime Minister Benjamin Netanyahu said earlier that day that only toppling the Iranian regime could eliminate the so-called Iranian threat to Israel. He also said that he had ordered the Israel Defense Forces (IDF), Mossad and the Military Intelligence Directorate to "topple the Iranian regime".

Iran's Foreign Minister Seyed Abbas Araghchi said Wednesday on social media that if the United States chooses war over diplomacy, it will surely suffer a greater strategic failure. He said Iran would give diplomacy another chance if there is sufficient evidence that Washington is willing to sincerely build mutual trust and reach a just solution.

US, Israel plan strike on Iran after midterm elections: media