Zhu Hexin: China's Openness Expands as Foreign-Related Economic Structure Undergoes Profound Changes

On the afternoon of October 19, the 2026 Financial Street Forum Annual Meeting officially opened in Beijing's Financial Street. Zhu Hexin, Vice Governor of the People's Bank of China and Director-General of the State Administration of Foreign Exchange, stated that China's open door is opening wider and the foreign-related economic structure has undergone profound changes. A prominent feature is that business entities are increasingly becoming a key force connecting domestic and international dual circulation. In terms of flow, China's balance of payments is gradually forming an autonomous equilibrium pattern; funds generated from current account surpluses are more frequently utilized through direct investment and asset allocation by enterprises and banks. In terms of stock, the proportion of external assets held by enterprises and banks in China's total foreign financial assets rose from around 30 percent at the end of 2010 to nearly 70 percent at the end of 2025. These changes reflect the strengthening role of the market in cross-border resource allocation and demonstrate the持续提升 ability of Chinese enterprises to participate in international cooperation and competition, as well as their capacity to allocate global resources.