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China to continue opening up financial industry


China has committed to expand the opening-up of the country’s financial industry, according to Li Yunze, head of the National Financial Regulatory Administration. China, Yunze added, is committed to sharing development opportunities with the rest of the world. Over the past few years, China has been actively aligning with international rules and has further enhanced a series of regulatory rules. It has recently comprehensively revised the regulations on asset risk categorisation and capital management of commercial banks. Yunze added that China will further expand the market entry for foreign institutions and enhance the transparency, stability and predictability of its financial system and policies, thus providing an institutional environment for prudent operations and fair competition.

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