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29.05.2024
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Xi Jinping demanded to accelerate the construction of a modern financial system with Chinese characteristics

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He stated this at the Beijing conference on promoting high-quality financial development, the People's Daily newspaper writes.

President of the People's Republic of China, General Secretary of the Central Committee of the Communist Party of China (CPC) Xi Jinping set goals to ensure the financial power of the People's Republic of China. Financial strength should be based on a solid economic foundation, he stressed.

In addition, the country must have key financial elements: in addition to a strong currency and a central bank, China must have an international financial center, supervision and a team of professionals. The construction of a modern financial system with Chinese characteristics should be accelerated, Xi Jinping said.

Currently, China is an important global financial power with the world's largest banking system, the second largest insurance, stocks and bonds market and the world's largest foreign exchange reserves, according to the head of the ruling Party of China.