Beijing International Financial Forum was commenced at the Hall of the People in Beijing on May 19. Wang Qishan, mayor of the capital city of China, is the first one to deliver a speech. He recognizes the important role of the financial sector plays in Beijing's economy and vows further opening of the sector.

He told the audience that the financial sector added 51.38 billion yuan worth of value and accounted for 14.2 percent of the total of the city's production value. It also represents 23.2 percent of the added value of the tertiary industry. All of these has showed the significance of the financial sector for the economic development of the capital city and the great potential it enjoys. As known to all Beijing Olympic Games 2008 brings new opportunities for Beijing's future. The people of Beijing are working hard to fulfill the target of New Beijing, Great Olympics.

Beijing Municipal government, vowed Wang Qishang, will exert great efforts on improving the development environment here in Beijing. On one hand, infrastructure construction will be sped up to offer better living, transportation and production conditions for residents here. More efforts are needed to build up confidence among people both home and abroad.

This is the third year of China's WTO membership. From Dec.11 this year, Beijing will open RMB business to foreign-funded banks. Facing the opportunities and challenges brought about by this situation, Wang Qishan required financial institutions at all levels accelerate the openness to the world on the principle of scientific concept of development.

By People's Daily Online