Financial Opening To Speed Up More Dividends And Deeper Release

The November issue of the economic reference daily was published in the 13 issue entitled "the comprehensive opening up of financial openness and the further release of dividends". The article said that China's financial opening to the outside world is speeding up. In just a half month, a number of new initiatives have been launched from the open access of foreign capital in banking, insurance and other fields to the two-way opening of financial markets such as payment and liquidation. Next, a number of policies and regulations related to the opening up of securities and futures will also be promulgated.

The economic reference Daily reporters learned from the 12 annual meeting of Finance and economics that with the accelerated pace of financial opening up, the demand for foreign capital for China's financial market is growing. Next, foreign banks, securities and other financial institutions will accelerate the business layout in China's financial market. At the same time, opening to the outside world has also created a better institutional environment for China's financial industry and promoted the reform and development of domestic financial institutions.

New opening of multidisciplinary financial liberalization

Financial liberalization has been frequent in recent years. In the opening up of the financial sector, the State Council recently issued opinions on further improving the use of foreign capital, and completely abolished the business scope of financial institutions such as foreign banks, securities companies, fund management companies and other financial institutions in China, enriching market supply and enhancing market vitality. We should reduce the number of entry requirements for foreign investors to set up banking, insurance institutions and related businesses. Abolish the requirements of foreign banks for establishing the total assets of foreign-funded corporate banks and branches, and cancel the business life and total assets requirements of foreign insurance brokers' insurance brokers in China.

In fact, since the beginning of this year, the pace of opening up to the outside world has accelerated significantly. Prior to this, the State Council has amended the regulations governing foreign banks and insurance companies to further relax the entry threshold of foreign banks and insurance companies and cancel a number of business restrictions. The gold stability Commission and the Banking Regulatory Commission have proposed several new policies for banking and insurance industries to remove restrictions on foreign capital shares and relax market access conditions.

At the same time, China's financial market liberalization is accelerating. Among them, the two-way opening of payment and clearing market has been highlighted in recent years.

Reporters learned that the next step, the securities, funds, futures and other multidisciplinary open rules will accelerate to the landing, and the threshold of foreign capital shares will gradually be eliminated.

More dividends in depth release

As China accelerates the pace of financial liberalization, more dividends from the opening up are being released in depth. On the one hand, foreign capital's confidence in the long-term development of China's economy has been strengthened and China's market has continued to be added. On the other hand, opening to the outside world has also promoted the reform of China's financial system and brought a better development environment for domestic financial institutions.

"From last year's opening up to June of this year, 41 foreign-funded corporate banks, 59 foreign insurance companies and more than 100 branches have been opened." Ma Yuhua, the director of the national science and Technology Achievements Transformation Fund and the former president of China Merchants Bank, said that the demand for foreign financial market for China's financial market is growing. According to Xinhua News Agency