Beijing's 2022 Financial Street Forum eyes on cooperation amid changes
Huo Li
Street view of Beijing Financial Street in November 2022. /Beijing Financial Street
Street view of Beijing Financial Street in November 2022. /Beijing Financial Street

Street view of Beijing Financial Street in November 2022. /Beijing Financial Street

The 2022 Financial Street Forum, an annual event led by the Beijing Municipal Government, will be held in the capital city from November 21 to 23, officials announced at a press conference on Thursday.

There will be about 400 guests from home and abroad to attend this year's forum, which is themed "forge ahead toward a shared future, economic development, and financial cooperation amid changes", according to the press conference.

Besides the Beijing government, this year's forum is co-hosted by the People's Bank of China (PBOC), China Banking and Insurance Regulatory Commission, China Securities Regulatory Commission, and the State Administration of Foreign Exchange.

The first Financial Street Forum was held in 2012. A decade later, the annual event has been referred to as the guidepost for China's financial reform.

It serves as a national financial policy publicity and releases portal, an interactive platform between finance and the real economy as well as a stage for international financial exchanges and cooperation.

Beijing Financial Street: the 'brain' of Chinese finance

Hosting national financial and monetary authorities as well as headquarters of large financial institutions, Beijing Financial Street (BFS) is dubbed as the "brain" of China's finance.

It gathers top Chinese banking, securities, and insurance regulators, serving as a national financial management center that integrates decision-making, supervision, and asset management among others.

Sometimes refers to as China's Wall Street, the district enters its 30th anniversary this year as it witnesses China's path of financial reform and development.

BFS accommodates more than 1,900 financial institutions of various types and 175 company headquarters, 16 of which land on the Fortune Global 500 list. 143 foreign financial institutions are located there.

Chief among these include banking heavyweight China Construction Bank, insurers China Insurance and China Life, as well as foreign financial institutions MasterCard and UBS Securities.

Assets of financial institutions in the region totaled 129.2 trillion yuan in 2021, accounting for one-third of the national sum.

Moreover, the assets of the commercial banks in the region account for about 41 percent of its national peers, and they hold more than 90 percent of the country's credit funds and 65 percent of the insurance premium funds.

The national financial management hub has also witnessed the process of China's continuous improvement of bilateral cooperation mechanisms for financial supervision.

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