Pan, who is also head of the State Administration of Foreign Exchange, made the remarks at the 13th Lujiazui Forum that opened Thursday in Shanghai.
The country will enhance cross-border trade facilitation under the current account and steadily promote the high-level opening-up of the capital account, said Pan.
China will diversify products as well as domestic and foreign participants in the foreign exchange market, and promote cross-border investment reform of private equity funds, Pan said.
More efforts will be made to facilitate enterprises' cross-border financing, and support cross-border payments of new trade patterns such as offshore trade and cross-border e-commerce, he added.
"In the near future, we will pilot high-level opening-up of foreign exchange management in the Lingang area, a new section of the Shanghai pilot Free Trade Zone, the Guangdong-Hong Kong-Macao Greater Bay Area and the Hainan free trade port," said Pan.
The operation of Chinese foreign exchange reserves follows market-based principle, and promotes the stability and development of the international financial market, said Pan, adding that the country's forex holdings will take sustainable investment as its long-term goal.
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