Eight major measures on financial openness unveiled at 2025 Lujiazui Forum

The 2025 Lujiazui Forum opened on June 18, with a landmark announcement by People's Bank of China Governor Pan Gongsheng, introducing eight transformative financial reforms to accelerate Shanghai's global financial hub ambitions.

Key initiatives include the establishment of an interbank market transaction data repository, aggregating real-time data across bonds, derivatives, and gold markets to enhance regulatory oversight. An international operation center for the digital renminbi will drive cross-border adoption, while a new personal credit reporting agency aims to diversify financial risk assessment tools.

Shanghai's Lin-gang Special Area will pioneer offshore trade financial reforms, including free trade offshore bonds aligned with international standards to fund Belt and Road projects. The free trade account (FTA) system will see upgraded features, enabling seamless global capital flows for high-quality enterprises.

Structural monetary policy tools will debut in Shanghai, such as blockchain-based trade finance re-lending and carbon reduction incentives. Collaborations with the China Securities Regulatory Commission will explore renminbi foreign exchange futures, enriching hedging options for firms.

These measures reflect China's strategy to deepen financial sector reforms, positioning Shanghai as a gateway for global capital while reinforcing its role in advancing digital currencies, green finance, and cross-border innovation. The reforms align with broader goals of enhancing market efficiency and resilience in an era of evolving economic landscapes.