The Lujiazui Forum in Shanghai commenced on Wednesday, where officials of China's financial institutions unveiled significant financial policies.

China will set up an "international operations centre" for the digital yuan to boost the global influence of the renminbi, People's Bank of China Governor Pan Gongsheng announced during the forum's opening.

The initiative is one of eight financial policy measures Pan unveiled, of which include plans to pilot a range of structural monetary policy tools in Shanghai.

To further support the development of technology companies, the National Financial Regulatory Administration (NFRA) and China Securities Regulatory Commission have proposed supportive measures.

Li Yunze, head of the NFRA, stated that the administration is actively advancing pilot programs, including equity investments and mergers and acquisitions loans for technology firms, to explore new pathways for sci-tech finance development.

Wu Qing, China Securities Regulatory Commission chairman, emphasized enhancing the STAR Market's role as a demonstration zone by introducing a "1+6" policy package to deepen reforms. This includes advancing comprehensive reforms in investment and financing, strengthening investor protection, and accelerating the development of a capital market ecosystem that better supports innovation. Specific measures involve launching a "sci-tech growth tier" on the STAR Market and reinstating the fifth set of listing criteria for unprofitable enterprises.  

In addition, for further promoting domestic investment, Zhu Hexin, governor of the State Administration of Foreign Exchange, revealed that a new batch of Qualified Domestic Institutional Investor quotas will soon be allocated to meet domestic entities' legitimate overseas investment demands.

(Cover via VCG)