Beijing, China — China’s Vice Premier, He Lifeng, recently met with top executives from global financial giants including BlackRock, Goldman Sachs, and Citigroup, urging them to strengthen their cooperation with China.
In these high-profile meetings, Vice Premier He emphasized China’s commitment to welcoming more foreign financial institutions and long-term capital. “We invite global investors to share in China’s development opportunities,” He stated, highlighting the nation’s efforts to reform its financial system and broaden the opening of its financial sector.
The executives from these international firms expressed optimism about China’s economic future. They affirmed their intention to deepen their presence in the Chinese market and to bolster economic and trade collaboration.
Financial commentators see these meetings as a clear signal of China’s encouragement for global long-term capital to invest in the country, aiming to stabilize market expectations. “China’s appeal to both growth and value investors is unmatched,” said Chen Hongbin, a researcher at Tsinghua University. “As a leader in innovation and the world’s largest manufacturing nation, China offers unparalleled opportunities.”
This year, China’s central bank has maintained supportive monetary policies, including reserve requirement cuts and interest rate reductions. Targeted loans have been allocated for technological innovation, affordable housing, and small businesses. Efforts have also been made to stabilize the yuan exchange rate.
China’s bond market, now the world’s second-largest, continues to draw global capital. By the end of October 2023, foreign institutions held bonds worth 4.25 trillion yuan ($585 billion), facilitated through direct investment and programs like Bond Connect.
Wang Lei, deputy director of the State Administration of Foreign Exchange, emphasized ongoing efforts to support renminbi bond issuance by foreign entities and to simplify exchange management rules, enhancing the appeal of renminbi-denominated assets to global investors.
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Vice premier encourages foreign firms to deepen cooperation with China
cgtn.com
