People’s Bank of China Vice Governor Chen Yulu told a Beijing forum that China would continue to maintain “the bottom line of avoiding systemic risks” and would work to incorporate all financial institutions in its supervision framework.
China will continue to open up its financial markets to foreign institutions, he said in the broadcast speech, describing the process as “almost complete”. Chen said restrictions on foreign ownership in banking, securities, fund management and insurance had been completely removed.
Foreign investors increased their holdings of domestic yuan assets, including stocks, bonds, deposits and loans, to 1.27 trillion yuan ($197 billion) in the first half of 2021, he said.
Source: Economy - investing.com
