国产精品99一区二区三_免费中文日韩_国产在线精品一区二区_日本成人手机在线

Central bank governor gives details, timetable on financial opening-up

Source: Xinhua| 2018-04-11 13:25:13|Editor: Liangyu
Video PlayerClose

CHINA-BOAO FORUM FOR ASIA-MONETARY POLICIES (CN)

Yi Gang, governor of the People's Bank of China, speaks at the session of "Monetary Policies: Back to Normal" during the Boao Forum for Asia Annual Conference 2018 in Boao, south China's Hainan Province, April 11, 2018. (Xinhua/Guo Cheng)

BOAO, Hainan, April 11 (Xinhua) -- China's central bank governor on Wednesday fleshed out measures and disclosed a timetable to further open up the financial sector, signaling fast progress in implementing the country's opening-up promises.

China will encourage foreign investors to enter its trust, financial leasing, auto finance, money brokerage and consumer finance sectors, a move to take effect before the end of this year, said Yi Gang, governor of the People's Bank of China, at the Boao Forum for Asia annual conference in the southern Hainan Province.

No foreign ownership limits will be set for new financial asset investment and wealth management companies initiated by commercial banks, he said.

China will also "substantially expand the business scope of foreign banks," and impose no restrictions on the business scope of joint-venture securities companies, Yi said.

In addition, the country will remove the requirement that foreign insurance companies must have had representative offices for two years before they set up businesses in China, he said.

All these measures will come into force before the end of this year, Yi told a panel discussion, noting that the country will also try to launch the Shanghai-London stock connect program within this year.

The opening policies in the following six areas will be implemented in the coming months, according to the governor.

First, foreign equity restrictions on banks and financial asset management firms will be canceled, with equal treatment for domestic and foreign-funded institutions. Foreign banks will be allowed to set up branches and subsidiaries at the same time in the country.

Second, foreign businesses will be allowed to own up to 51 percent of shares in securities, funds, futures and life insurance joint ventures, and the cap will be phased out over three years.

Third, securities joint ventures will not be required to have at least one securities firm among its domestic shareholders.

Fourth, daily quotas for the stock connect schemes between the mainland and Hong Kong will be quadrupled starting from May 1.

Fifth, qualified foreign investors will be allowed to conduct insurance brokerage and assessment business in the country.

Sixth, foreign-funded insurance brokers will have the same business scope as their Chinese counterparts do.

KEY WORDS: finance
EXPLORE XINHUANET
010020070750000000000000011100001371029391
主站蜘蛛池模板: 太白县| 且末县| 咸丰县| 台中县| 凤台县| 共和县| 西盟| 滨海县| 莒南县| 澄江县| 扶绥县| 博客| 香港| 清苑县| 忻州市| 图片| 三门峡市| 崇明县| 徐汇区| 江门市| 上犹县| 麻栗坡县| 三台县| 舟山市| 五常市| 普安县| 同仁县| 晋江市| 永宁县| 叙永县| 元氏县| 龙游县| 洛阳市| 陆川县| 班玛县| 花莲县| 昌平区| 东阿县| 扬州市| 彭阳县| 萝北县|