SAFE: Promoting Foreign Exchange Market Opening and Development, Expanding Pilot Program for Securities Companies' Settlement and Sale of Foreign Exchange

On October 19, Zhu Hexin, Vice Governor of the People's Bank of China and Director of the State Administration of Foreign Exchange, stated at the opening ceremony of the 2026 Financial Street Forum Annual Meeting that efforts will be made to promote the opening and development of the foreign exchange market, expand the pilot program for securities companies' settlement and sale of foreign exchange, support financial institutions in providing exchange rate risk management services for enterprises—especially small and medium-sized enterprises—enhance cross-border service capabilities, better support coordinated development between debt and financial markets, and advance the internationalization of the renminbi. (Securities Times)