Since the 18th National Congress of the Communist Party of China, the degree of two-way opening of China's financial market has been continuously improved. At present, the multi-level and diversified financial market has begun to take shape. By the end of 20 16, the main issuers of overseas bonds included overseas non-financial enterprises, international commercial banks, international development institutions and foreign governments, and a total of 63 1 100 million yuan was issued. The launch of 20 17 "Bond Link" has enabled the bond markets in the Mainland and Hong Kong to be interconnected. Previously, "Shanghai-Hong Kong Stock Connect" and "Shenzhen-Hong Kong Stock Connect" opened up domestic and foreign capital markets and improved the efficiency of financial resource allocation.

On this basis, the RMB began to go to the world, and the level of internationalization improved significantly. According to SWIFT's statistics, in August this year, RMB ranked the fifth largest payment currency in the world, accounting for 1.86% of global payments. What attracts much attention is that RMB officially joined the IMF Special Drawing Rights (SDR) currency basket on 1 October 16,1,which means that RMB has become an international reserve currency and its international appeal has been greatly enhanced. According to IMF statistics, at the end of the first quarter of 20 17, the size of RMB reserves held by the reporting countries of the official IMF Foreign Exchange Reserve Currency Composition Survey (COFER) was US$ 88.54 billion, and the status of reserve currency was further confirmed.

Actively and steadily promoting the opening up of the financial industry is still an important direction for the development of China's financial industry. The national financial work conference held in July this year pointed out that it is necessary to actively and steadily promote the opening up of the financial industry and arrange the opening order reasonably. At the16th meeting of the Central Leading Group for Finance and Economics, it was emphasized that opening up the financial industry is an important aspect of China's opening up. It is necessary to create a stable, fair and transparent business environment and accelerate the construction of a new open economic system.

The achievements of China's financial industry in opening to the outside world are obvious to all. However, with the rapid development of the real economy, the degree of opening up of China's financial industry can not fully meet the needs of the development of the real economy and the response to international competition. On the basis of strengthening supervision and preventing risks, we should actively and steadily promote the opening up of the financial industry.

"The opening of the financial industry helps to promote competition, and competition helps to improve efficiency." Zhu Juan said that China's financial market is large enough and China's financial institutions are strong enough to cope with the competition from foreign financial institutions. In the next stage, we should continue to adhere to the principle of initiative, safety and order, and make a good timetable and road map for financial opening.