pan gongsheng : speech - 2023 annual conference of financial street forum speech by mr pan gongsheng, governor of the people's bank of china and safe administrator, at the 2023 annual conference of financial street forum, beijing, 9 november 2023. * * * distinguished party secretary yin li, mayor yin yong, administrator yunze, chairman huiman, president fu hua, president jin liqun, and dear guests, good morning! the convening of the annual conference of financial street forum is of special significance at a time when the central financial work conference has just concluded. general secretary xi jinping delivered an important speech at the central financial work conference, summarizing the financial work since the 18th national congress of the communist party of china ( cpc ), analyzing the situation facing the high - quality development of finance, and deploying the financial work both at the current stage and in the years to come, which provided us with fundamental guidance for advancing financial work in the new era. studying and implementing the guidelines of the central financial work conference is the most important task of the financial system at present. now, in light of the current economic and financial developments, i will share my insights on studying and implementing the guidelines of the central financial work conference. first, china's economic growth has witnessed sustained rebound, and the highquality economic development has been steadily advanced. in the first three quarters of 2023, china's gdp grew at a rate of 5. 2 percent, and the annual target of 5 percent is expected to be achieved smoothly. the day before yesterday, i met with a delegation from the international monetary fund ( imf ) who visited china for economic and financial consultations. their latest forecast for china's economic growth in 2023 stands at 5. 4 percent, which is leading among the world's large economies. as the macro adjustment policies continue to unleash their benefits, the economic growth momentum has been strengthened, production and consumption have steadily rebounded, employment and prices have generally improved, the balance of payments has maintained a basic equilibrium, and major economic indicators have picked up. china's economic transition has continued to make headway, and investment in high - tech industries has maintained fast growth. in the first three quarters, the contribution of final consumption to economic growth reached 83 percent. therefore, there are favorable conditions to continuously maintain steady economic growth and stable prices. there are two perspectives for analyzing china's economic growth.

s commitment to consolidate and strengthen hong kong's status as an international financial center and the confidence and resolve in sustaining hong kong's long - term prosperity, stability, and development. as an important channel linking the mainland, hong kong and the international financial market, the southbound bond connect will connect and integrate the financial markets of the mainland and hong kong more efficiently. it will provide convenient access for mainland investors to invest in hong kong and global financial markets, and inject fresh vitality and energy into hong kong. on this occasion, on behalf of the pbc, i would like to thank the government of the hong kong special administrative region, the hkma, the securities and futures commission of hong kong, as well as financial institutions and infrastructure providers in the mainland and hong kong for your unremitting dedication to the bond connect scheme throughout these years. i would also like to thank the distinguished guests and friends from the media who are present at the ceremony, as your commitment and support are an integral part of china's financial reform and opening up. next, the pbc will continue with the pragmatic cooperation with hong kong in accordance with the unified arrangements of the cpc central committee and the state council and firmly support the development of hong kong as an international financial center. finally, i wish the southbound bond connect a full success and i wish hong kong greater achievements in developing the international financial center. thank you all! 2 / 2 bis - central bankers'speeches