China's National Financial Regulatory Administration held its International Advisory Council meeting in Beijing on Oct. 19-20, with discussions emphasizing international supervisory cooperation, risks associated with artificial intelligence and mechanisms for addressing financial distress. Against rising international uncertainty, participants called for closer policy coordination and cooperation among national regulators to prevent and respond to risks across borders. They also urged regulators to guide financial institutions in managing emerging risks while using artificial intelligence to improve efficiency, and to strengthen early warning and risk resolution mechanisms to prevent systemic risk. National Financial Regulatory Administration Director Ding Xiangqun outlined priorities for the 15th Five-Year Plan period, including risk prevention, stronger supervision, financial sector development and further opening to foreign participation. These themes continue the regulator's earlier engagement with banks and insurers on financial planning for the period, which emphasized risk management and the resolution of existing risks. In a separate meeting with council members on Oct. 19, Vice Premier He Lifeng reiterated China's policy of expanding financial sector opening and welcomed further investment and cooperation by foreign financial institutions.
China's National Financial Regulatory Administration reviews financial opening and risk priorities at international advisory meeting
China's National Financial Regulatory Administration convened its International Advisory Council to discuss financial risks and regulatory priorities. Participants called for stronger international supervisory cooperation, controls on emerging risks associated with artificial intelligence, and better early warning and risk resolution mechanisms. The discussions accompanied a review of 15th Five-Year Plan priorities, while Vice Premier He Lifeng separately reaffirmed further financial opening to foreign institutions.