China about to be financial powerhouse

THE nation's goal of building itself into a financial powerhouse has achieved progress in six key elements that have Chinese characteristics: the internationalization of the yuan, the construction of a modern central bank system, the expansion of financial institutions, the improvement of the modern financial supervision system, the strengthening of a global financial center and the improvement of financial professionals, according to the China Financial Policy Report 2024 released on Monday.

The report, which is China's first systemic report on financial policy, was launched at a sub-forum of the 2024 Tsinghua PBCSF Global Finance Forum, which kicked off on Monday in Hangzhou, east China's Zhejiang province.