SHANGHAI - Chinese Vice-Premier He Lifeng said on Wednesday that China will continue to steadily expand institutional opening-up in the financial sector.

China welcomes financial institutions from around the world to further deepen their presence in the Chinese market and tap into the country's development opportunities, He, a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, said at the 2026 Lujiazui Forum that opened Wednesday in Shanghai.

China will continue to improve the rule of law in the financial sector and unswervingly safeguard national financial security, He said, adding that the country is ready to improve cooperation on global financial governance and work with all parties to address risks and challenges.

The vice-premier also pledged support for Shanghai in taking the lead in developing offshore finance, accelerating the building of a global allocation and risk management center for renminbi-denominated assets, further facilitating cross-border trade and investment, and enriching credit, insurance and bond products, including shipping insurance.

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He noted that these efforts will help Shanghai make new breakthroughs in its development as an international financial center.

The event was also attended by Chen Jining, a member of the Political Bureau of the CPC Central Committee and secretary of the CPC Shanghai Municipal Committee.