Zhu Hexin: China's door to opening up is opening wider, and profound changes have taken place in the structure of the foreign-related economy.

This afternoon, at the opening ceremony of the 2026 Financial Street Forum Annual Conference, Zhu Hexin, Deputy Governor of the People's Bank of China and Administrator of the State Administration of Foreign Exchange, stated that China's door to opening up is opening ever wider, and the structure of its foreign-related economy has undergone profound changes. One prominent feature is that market entities are increasingly becoming an important force connecting the domestic and international dual circulation. From the perspective of flows, China's balance of payments is gradually forming a pattern of autonomous equilibrium, with funds generated by current account surpluses being increasingly utilized through outward investment and asset allocation by entities such as enterprises and banks. From the perspective of stocks, the share of external assets held by enterprises, banks, and other entities in China's total external financial assets has risen from around 30% at the end of 2010 to nearly 70% at the end of 2025. These changes reflect the growing role of the market in cross-border resource allocation, and also demonstrate the continuous enhancement of Chinese enterprises' capacity to participate in international cooperation and competition and to allocate global resources.