On January 4th, the 2025 People's Bank of China Work Conference was held from January 3rd to 4th. The meeting emphasized that we should steadily promote financial reform and opening up, and improve the level of RMB internationalization. Enhance the function of the bond market and the ability to serve the real economy. Strengthen financial infrastructure building and overall supervision. We should expand the high-level opening up of the financial industry in an orderly manner, support the construction of Shanghai as an international financial center, consolidate and enhance Hong Kong's status as an international financial center, and maintain the bottom line of financial security under the conditions of opening up. We should steadily and solidly promote the internationalization of the RMB, further enhance the function of the RMB as an international currency, give full play to the functions of currency swaps and RMB clearing banks, and promote the development of the offshore RMB market. Promote the facilitation of cross-border fund settlement policies such as multinational companies' capital pools Maintain the sound operation of foreign exchange reserves.