On the 17th, the former governor of the People's Bank of China*** interpreted in detail the goal of "financial power" proposed by China's ** financial work conference at the annual meeting of Phoenix.com. He pointed out that China's construction of a financial power is not to seek world financial hegemony, but to strive for an international financial status comparable to China's economic and financial strength, promote the high-quality development of China's economy, and promote the stable development of the global economy and finance.
** emphasized that building a financial power system is one of China's strategic goals, including promoting the construction of the first banking system, managing the RMB into the world's largest currency, the most stable international currency, and the use of digital currency technology in the forefront of the world. At the same time, it will increase the international influence of the renminbi to be on a par with the euro by 2035 and become the world's second largest international currency by the middle of the century.
He believes that China needs to cultivate and develop a globalized, comprehensive, and integrated Chinese financial group that can compete with the US and European financial groups. At the same time, a capital market with international influence has been built, international capital flows freely across borders, and the asset-liability ratio of enterprises has dropped significantly. Shanghai needs to build an international financial center that is as competitive as New York and London, while Hong Kong needs to consolidate and enhance its status as an international financial center.
In addition, it was also mentioned that the digital and intelligent management of the financial industry should be among the top in the world, establish an effective Chinese-style modern financial regulatory system, prevent and resolve domestic systemic financial risks, adhere to the balance of payments, respond to the impact of the international financial market and the international financial crisis on China, and ensure national financial security. Finally, China should also actively participate in international financial governance and enhance and exert its voice and influence in international financial governance.
This speech undoubtedly sent a major signal to the global financial markets. As the world's second largest economy, China is actively promoting the construction of a financial power in order to strive for an international financial status comparable to its own economic and financial strength. This goal not only reflects China's confidence in its own development, but also demonstrates China's ambitions in the financial sector to the world.
In achieving this goal, China will actively promote the internationalization of the renminbi and improve its position in the global monetary system. This strategic move is not only conducive to the stability and development of China's economy, but also helps to promote the recovery and growth of the global economy. At the same time, China will also strengthen financial supervision and control to prevent and resolve domestic systemic financial risks to ensure national financial security.
In addition, China will strengthen digital and intelligent management to improve the efficiency and competitiveness of the financial industry. This initiative will further promote the development and innovation of China's financial industry, making it more competitive on a global scale. At the same time, China will also actively participate in international financial governance and enhance and exert its voice and influence in international financial governance. This initiative will help maintain the stability and fairness of the global financial market and promote the healthy development of the global economy and finance.
In general, China's construction of a financial power is a need for its own development and an important measure to promote global economic development. With the continuous enhancement of China's economic strength and international status, China's voice and influence in the global economic and financial fields will also continue to increase. With the continuous opening up and development and innovation of China's financial market, China is expected to become a powerful force on the world financial stage and inject new impetus into the development of the global economy and finance.