[2026 Financial Street Forum Annual Meeting: The central bank announced that it will introduce a package of policies and the China Securities Regulatory Commission will make every effort to maintain the security and stability of the capital market and continue to improve market resilience and confidence] October 19th, the 2026 Financial Street Forum Annual Meeting will open in Beijing on the afternoon of October 19. Pan Gongsheng, Governor of the People's Bank of China, Ding Xiangqun, Director of the State Administration of Financial Supervision, Wu Qing, Chairman of the China Securities Regulatory Commission, and Zhu Hexin, Director of the State Administration of Foreign Exchange will give keynote speeches at the opening ceremony. The core content is as follows: Pan Gongsheng: We will work with the State Administration of Financial Supervision and the China Securities Regulatory Commission to establish a liquidity support tool to deal with large redemptions by non-bank institutions, with the purpose of establishing a bond market stabilization mechanism. Pan Gongsheng: We will study and select opportunities to switch the duration of the central bank's main open market operations to overnight, and the open market overnight repurchase rate will accordingly become the main policy interest rate. Pan Gongsheng: Promote the reform of loan interest rate pricing benchmarks and transform from a relatively simple reference to the loan market prime rate (LPR) pricing to a more diversified pricing benchmark. Pan Gongsheng: The interest calculation basis in these areas will be promoted to be replaced by market-based interest rate indicators, and the benchmark interest rates for deposits and loans of financial institutions will be withdrawn. Pan Gongsheng: The scope of applicable institutions for the Standing Lending Facility (SLF) will be expanded to further include domestic foreign-funded corporate banks. Pan Gongsheng: The inter-bank and exchange bond market interconnection has met the conditions for implementation and can be launched after testing. Pan Gongsheng: It is planned to pilot a pilot program to allow 8 Chinese-funded and foreign-funded overseas RMB clearing banks to carry out proprietary transactions in the domestic inter-bank foreign exchange market. Pan Gongsheng: We will work with 10 departments including the Ministry of Science and Technology to issue the "Guiding Opinions on Financial Support for the Construction of International Science and Technology Innovation Centers in Beijing (Beijing-Tianjin-Hebei), Shanghai (Yangtze River Delta), and the Guangdong-Hong Kong-Macao Greater Bay Area" to accelerate the construction of a science and technology financial service system that is compatible with the core functions and international positioning of international science and technology innovation centers. Ding Xiangqun: We will step up efforts to promote the transformation and upgrading of China's banking and insurance industries. Currently, China's banking and insurance industries are operating generally stably and risks are generally controllable. Ding Xiangqun: In the first three quarters of this year, the banking industry provided more than 20 trillion yuan in new financing support to the real economy, and insurance compensation was nearly 2 trillion yuan. Actively support the development of new productive forces and strengthen financial support for infrastructure construction such as the "Six Networks". Ding Xiangqun: Work with all parties to severely crack down on illegal financial activities, strengthen the supervision of financial activities across regions, departments, new formats and new products, bring all financial activities into supervision in accordance with the law, and strive to achieve full coverage without exception. Ding Xiangqun: Adhere to substance over form, and strengthen penetrating supervision on credit extension for large investments. Ding Xiangqun: Continue to solidly advance various measures for institutional opening up in the financial sector and support more foreign-funded institutions and long-term capital to develop and develop businesses in China. Wu Qing: Listed companies distributed 2.1 trillion yuan in dividend repurchases during the year, which was 2.7 times the amount of IPO financing and refinancing in the same period. Wu Qing: Adhere to the priority of stability and make every effort to maintain the safety and stability of the capital market. Closely track market dynamics at home and abroad, strengthen risk analysis and policy tool reserves, consolidate and improve the construction of market stabilization mechanisms, and be highly vigilant about new risk points such as overseas leveraged products linked to A-share stocks. Wu Qing: The supporting conditions and basic trends for China's economic development and long-term improvement are still strong. The underlying logic of capital market operations has quietly undergone profound changes, and the allocation value of China's assets has become more prominent. Wu Qing: Further improve the capital market functions that coordinate investment and financing, and continue to enhance market resilience and confidence. Wu Qing: Today the China Securities Regulatory Commission will approve the registration of the first batch of 18 active ETFs, which will introduce more incremental funds to the market. Wu Qing: Four measures will be launched to vigorously cultivate a standardized and healthy market ecology, including preparing to establish a fund industry operation monitoring center, issuing opinions on the implementation of safe and compliant applications of artificial intelligence in the securities and futures industry, improving penalty rules for illegal holding reductions, and formulating and issuing guidance on advance compensation in the securities market. Wu Qing: Improve the convenience of QFII investment operations and support domestic and foreign institutions to cooperate in launching more indices and products based on Chinese assets. Wu Qing: Accelerate the inclusion of RMB stock trading desks and REITs into the Shanghai-Shenzhen-Hong Kong Stock Connect. Wu Qing: Study and promote multi-level market reform and implement more inclusive and adaptable systems for issuance, listing, mergers and acquisitions and reorganizations. Deepen the refinancing reform and take the opportunity to issue newly revised regulations for the registration and management of securities issuance of listed companies and supporting rules. Wu Qing: We will accelerate the promulgation of regulations for the supervision of listed companies and improve institutional mechanisms such as corporate governance, information disclosure, and investor protection; we will intensify efforts to promote high-quality development actions for securities companies, and support industry mergers, acquisitions, reorganizations, and subsequent integration. Wu Qing: We will steadily launch a series of measures such as Bei Securities 50 ETF, Bei Stock Exchange new stock placement, innovative evaluation standards, and optimize the hierarchical management of the New Third Board. Zhu Hexin: We will continue to strengthen the monitoring and early warning of cross-border capital flows and macro-prudential management, severely crack down on illegal cross-border financial activities, maintain the stable and healthy operation of the foreign exchange market, and ensure the safety, flow, preservation and appreciation of foreign exchange reserve assets. Zhu Hexin: It is planned to launch a batch of incremental measures to support enterprises to better participate in international cooperation and competition.