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MarketScreener Homepage  >  Equities  >  PHILIPPINE STOCK EXCHANGE, INC.  >  China Banking Corporation    CHIB   PHY138161229

CHINA BANKING CORPORATION

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China mulls further opening up financial markets

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01/12/2019 | 12:21am EDT

In this April 8, 2018 photo, a pedestrian walks past the headquarters of China Banking and Insurance Regulatory Commission (CBIRC) in Beijing, China. (PHOTO / IC)

BEIJINGChinawill consider further opening up its financial markets this year to improve the sector's competitiveness, the country's main financial regulator said Friday.

The government will research new opening-up policies, with particular interest in allowing professional foreign insurers with strong compliance awareness to enter the Chinese market, Xiao Yuanqi, spokesperson for the China Banking and Insurance Regulatory Commission (CBERC), said at a press conference.

Xiao said China would not only like foreign firms to set up branches and invest in China, but also hoped for them to bring in professionals and technologies.

China introduced over 10 measures to open up its banking and insurance sectors last year, including easing ownership restrictions and enabling access to a number of niche markets.

(c) 2019 China Daily Information Company. All Rights Reserved. Provided by SyndiGate Media Inc. (Syndigate.info)., source Middle East & North African Newspapers

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Managers
NameTitle
William C. Whang President, Chief Operating Officer & Director
Hans T. Sy Chairman
Patrick D. Cheng Chief Finance Officer & Group Head-Finance
Peter S. Dee Executive Director
Joaquin T. Dee Non-Executive Director