At the Oct. 19 Financial Street Forum in Beijing, PBOC deputy governor and SAFE head Zhu Hexin said China’s opening is widening and its foreign-linked economic structure has undergone profound change. He flagged a key shift: operating entities are increasingly the conduit between domestic and international dual circulation. On flows, China’s balance of payments is moving toward an autonomous balance, with funds from current‑account surpluses increasingly deployed abroad via firms and banks as ou

At the Oct. 19 Financial Street Forum in Beijing, PBOC deputy governor and SAFE head Zhu Hexin said China’s opening is widening and its foreign-linked economic structure has undergone profound change. He flagged a key shift: operating entities are increasingly the conduit between domestic and international dual circulation. On flows, China’s balance of payments is moving toward an autonomous balance, with funds from current‑account surpluses increasingly deployed abroad via firms and banks as outward investment and asset allocation. On stocks, the share of China’s external financial assets held by firms and banks rose from roughly 30% at end‑2010 to nearly 70% at end‑2025. Zhu said these shifts reflect a growing market role in cross‑border resource allocation and stronger corporate capacity for international cooperation, competition and global resource allocation.