BEIJING, Oct. 27 (Xinhua) -- China's financial system needs to advance risk prevention, strengthen regulation, promote high-quality development and push for high-standard opening-up, Chinese Vice Premier He Lifeng said on Monday.

He, who is also a member of the Political Bureau of the Communist Party of China (CPC) Central Committee, made the remarks at the opening ceremony of the Annual Conference of Financial Street Forum 2025 in Beijing.

Significant progress has been made in the development of the financial sector during the 14th Five-Year Plan period (2021-2025), under the strong leadership of the CPC Central Committee, he said.

The 15th Five-Year Plan period (2026-2030) will be a key time for the goal of basically achieving socialist modernization by 2035, and it will also be a key period to promote high-quality financial development and accelerate the push to become a country with a strong financial sector, he said, adding that the sector should participate actively and effectively in the implementation of the 15th Five-Year Plan.

In the world today, changes rarely seen in a century are unfolding at an accelerating pace, presenting both challenges and opportunities in the international financial markets, he said, noting that China is willing to work with all parties to research global financial governance and advance reforms in the area.

Yin Li, who is a member of the Political Bureau of the CPC Central Committee and secretary of the CPC Beijing Municipal Committee, also attended the opening ceremony. ■