Fur­ther Open­ing of Fi­nan­cial Sec­tor

China Pictorial (English) - - NEWS -

Septem­ber 20, Tian­jin: Chi­nese Premier Li Ke­qiang ( left) holds a di­a­logue with rep­re­sen­ta­tives from com­mu­ni­ties such as in­dus­try and com­merce, fi­nance, think tanks and me­dia out­lets at­tend­ing the Sum­mer Davos 2018. The di­a­logue was hosted by Klaus Sch­wab, ex­ec­u­tive chair­man of the World Eco­nomic Fo­rum.

Li said the open­ing up of the fi­nan­cial sec­tor of a na­tion was closely re­lated to its devel­op­ment phase, eco­nomic level, and reg­u­la­tory ca­pac­i­ties.

“While main­tain­ing fi­nan­cial sta­bil­ity, China is de­ter­mined to fur­ther open up its fi­nan­cial ser­vices, fully im­ple­ment the pre- es­tab­lish­ment na­tional treat­ment and the neg­a­tive list sys­tem, and grad­u­ally re­move lim­its on busi­ness li­censes and for­eign own­er­ship,” Li said.

Cur­rently, China has re­moved the caps on the for­eign own­er­ship of banks. For­eign own­er­ship caps on in­sur­ance and se­cu­ri­ties com­pa­nies will also be lifted, he said.

by Liu ZHEN/CNS

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