The fourth National Financial Work Conference concluded on Saturday. The meeting, held every five years, mapped out a blueprint for the development of China's financial industry from 2012 to 2017.

The following are the major achievements in the industry from 2007 to 2011.

In March 2007, China's first village bank opened in southwest China's Sichuan province, creating a new way for financial institutions to serve rural areas.

On October 30, 2007, China Reinsurance (Group) Corporation was founded, steadily pushing forward export credit insurance reform.

In 2007, the interbank offered rate officially started operation in Shanghai, representing the faster marketization of the formation of the interest rate.

In 2008, the central government launched the share-holding reform of Agricultural Bank of China (ABC) by injecting 130 billion yuan (about $20.61 billion) into ABC. In July 2010, ABC was listed on the Shanghai Stock Exchange and Hong Kong Exchanges and Clearing Limited (HKEx). By then, the share-holding reform of China's four largest state-owned commercial banks was completed.

On July 2, 2009, the State Council, or China's Cabinet, announced a pilot program to allow exporters and importers to settle cross-border trade deals in Renminbi, or yuan, in the cities of Shanghai, Guangzhou, Shenzhen, Zhuhai and Dongguan. The pilot program has been extended throughout the country. China has signed bilateral currency swap deals of over 1.3 trillion yuan with 14 countries and regions, and the cross-border settlement of trade deals in Renminbi amounted to 2.6 trillion yuan.

On October 30, 2009, the ChiNext Board, the Nasdaq-style market, started trading. By the end of 2011, 281 companies had been listed on the board, 92.8 percent of which were new and high-tech enterprises.

In 2010, rural micro insurance was expanded to cover 20 million people across 24 provincial regions. It provides solid support for those who incur losses from natural disasters and emergencies in rural areas.

In June 2010, the People's Bank of China (PBOC) announced that it would push forward the reform of the Renminbi's exchange rate mechanism. By December 2011, the yuan's value had gained at least 22 percent against the US dollar since the reform started in 2005.

By the end of March 2011, China's foreign exchange reserves hit $3.04 trillion, marking year-on-year growth of 24.4 percent.

On August 17, 2011, the central government allowed Renminbi Qualified Foreign Institutional Investors (RQFII) to invest in domestic stock markets with initial capital of 20 billion yuan. By December 30, 2011, the State Administration of Foreign Exchange had authorized 10 RQFII with an investment of 10.7 billion yuan.

By September 2011, the nation's total banking assets reached 105.71 trillion yuan, more than double the 43.94 trillion yuan at the end of 2006.