On October 30th, 2025, China Securities Regulatory Commission (CSRC) held the 22nd International Advisory Council (IAC) meeting in Beijing. The day earlier, Mr. He Lifeng, Member of the Political Bureau of the CPC Central Committee and Vice Premier of the State Council, met with some IAC members at the Diaoyutai State Guesthouse. Vice Premier He reiterated that China, under the guidance of the recently-concluded Fourth Plenary Session of the 20th CPC Central Committee, remains committed to deepening capital market reform and enhancing high-level opening-up in the financial sector. He outlined the goal of leveraging high-quality financial development to fuel Chinese modernization and welcomed increased investment and presence from global financial institutions and long-term capitals.

The theme of this year’s IAC meeting was "Innovation, Inclusiveness and Openness: The Path to High-Quality Development of Capital Markets". Twelve IAC members attended the meeting, along with CSRC Chairman Mr. Wu Qing and Vice Chairman Mr. Li Ming. Extensive discussions were made on topics such as opportunities and challenges brought by emerging technologies in the capital markets, enhancing market inclusiveness to better serve high-quality development, promoting high-level opening up, and effectively responding to risks and challenges amid the changing era.

The IAC members spoke highly of the Fourth Plenary Session of the 20th CPC Central Committee, and agreed that since the roll-out of the package of incremental measures by the Chinese government in September 2024, the Chinese capital markets have made new progress in preventing risks, strengthening regulation, and promoting high-quality development. Investor confidence has been boosted, the attractiveness of Chinese assets and market resilience have been strengthened. When implementing the 15th Five-Year Plan, China's capital markets can play an even bigger role in contributing to the high-quality economic development in China and creating more opportunities for the world.

The members provided insights and recommendations on a variety of areas such as fostering coordinated market function for investment and financing, enhancing the inclusiveness and adaptability of capital markets, refining the market ecosystem for long-term investment, strengthening the functions of bond and futures markets, leveraging technology to enable capital market development and regulation, advancing high-level institutional opening-up, and deepening international regulatory cooperation.

The IAC serves as a think tank of the CSRC. Since its establishment in June 2004, it has continuously supported the CSRC in drawing on international best practices and experiences, thereby promoting reform and opening-up, as well as stable and sound development of China's capital markets.

The IAC meeting was also attended by representatives from the General Office of the State Council, the Supreme People's Procuratorate, the Ministry of Public Security, the People's Bank of China, the National Financial Regulatory Administration, the Beijing Municipal Bureau of Local Financial Regulation and Supervision, the Xicheng District of the People's Government of Beijing Municipality, as well as heads of the CSRC departments, regional offices and affiliated institutions.

The meeting was held during the Annual Conference of Financial Street Forum 2025, with some IAC members attending the forum's opening ceremony and related events.