SHANGHAI (Reuters) – China will continue to improve monetary policy controls and its prudent macroeconomic policy framework, and construct an early-warning system to monitor and evaluate financial risks, a senior central bank official said on Saturday.
People’s Bank of China Vice Governor Chen Yulu told a Beijing forum that China would continue to maintain “the bottom line of avoiding systemic risks” and would work to incorporate all financial institutions in its supervision framework.
China will continue to open up its financial markets to foreign institutions, he said in the broadcast speech, describing the process as “almost complete”. Chen said restrictions on foreign ownership in banking, securities, fund management and insurance had been completely removed.
Foreign investors increased their holdings of domestic yuan assets, including stocks, bonds, deposits and loans, to 1.27 trillion yuan ($197 billion) in the first half of 2021, he said.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function()
{n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘751110881643258’);
fbq(‘track’, ‘PageView’);
by : Reuters
Source link
