China says it will continue to open up the financial sector

0
8
China says it will continue to open up the financial sector

China will improve market access requirements for foreign banks and insurance companies, state media quoted the cabinet as saying.

China will improve its macro-prudential framework to monitor systemic finiancial risks, the cabinet said, adding that China will keep the yuan exchange rate basically stable.

Reporting by Colin Qian and Kevin Yao; Editing by Toby Chopra

It will maintain steady growth in imports and exports in the second half, the cabinet added.

Story Highlights

  • China has stepped up efforts to open its financial sector to help lure in more foreign investment and shore up the economy, amid rifts with the United States.

  • The country will also improve rules on cross-border exchanges between parents and subsidiaries of financial institutions, the cabinet said without elaborating.

Our Standards: The Thomson Reuters Trust Principles.