Opening up is the only way for a country to achieve prosperity and development. The opening up of the financial industry is an important part of China’s overall opening up to the outside world. Expanding the opening up of the financial industry is not only an inherent requirement for its development, but also an objective need to improve the financial services for the real economy. Since the reform and opening up, China’s financial development has gained great progress, and the financial industry has made historic achievements. In particular, the opening up of the financial services industry has accelerated and significant progress has been made since 2018. In the next step, we should continue to promote the opening up of the financial industry by adhering to the “three principles”, namely: adhering to the principle of pre-establishment national treatment and negative list; adhering to the coordination and joint promotion of the financial industry’s opening up and exchange rate formation mechanism reform and the capital account convertibility process; paying attention to the prevention of financial risks during the opening up of the financial services industry, so that financial regulation capability can match financial openness.

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