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China to step up efforts to attract foreign firms

China reaffirms its commitment to attracting foreign investment and ensuring the legal rights of foreign companies, as stated by Li Yunze, head of the National Financial Regulatory Administration (NFRA), at the Asian Financial Forum in Hong Kong. Li emphasised that China’s policy to enhance foreign capital in its financial sector remains unchanged and efforts to provide a favourable business environment will continue. The country is considering easing entry for Hong Kong and Macau financial institutions into mainland insurance markets. Despite China’s economy growing 5.2% in 2023, surpassing targets, the recovery has been unstable due to local government debt and a property crisis. This has led to a decline in Hong Kong and Shanghai stock markets. However, Li assures that China’s financial industry is stable and manageable, with strong economic growth and room for macroeconomic policy adjustments.


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