Pan shared this outlook in a report on China's financial work presented to the ongoing 12th session of the Standing Committee of the 14th National People's Congress (NPC), the country’s top legislature, according to Xinhua News Agency.
He also pledged to improve financial services to support high-quality economic growth while deepening reform and opening-up in the financial sector to develop a modern financial system with Chinese characteristics.
Pan's report stressed the need to comprehensively enhance financial regulation and actively address financial risks to maintain the stability of the financial system.
At the Annual Conference of the Financial Street Forum 2024 held in Beijing in October, Pan noted that the PBC was considering a reduction in the reserve requirement ratio by 0.25 to 0.5 percentage points by the end of 2024, depending on market liquidity.
Foreign investors are increasingly optimistic about the Chinese market, encouraged by recent policy measures designed to revitalize growth.
This year, DBS is participating in the China International Import Expo for the seventh consecutive year. "We look forward to working with other exhibitors, especially in areas like green finance, digitalization, and AI, to promote innovation and foster new quality productive forces," DBS China added.
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