BUSINESS China's central bank pledges continued opening-up of financial industry

BUSINESS

China's central bank pledges continued opening-up of financial industry

Xinhua

23:05, August 03, 2020

A pedestrian passes by the headquarters of the People's Bank of China in Beijing. (Photo: China News Service)

BEIJING - The People's Bank of China (PBOC), the central bank, said Monday that it will resolutely push forward the opening-up of the country's financial industry in a sound and orderly manner.

Measures announced to open up China's financial sector will continue to be implemented, the PBOC said in a videoconference on its work during the second half of 2020.

It will promote a full implementation of the foreign investment administration model of pre-establishment national treatment plus negative list, advance the internationalization of RMB and capital account convertibility in a proactive and sound manner, and unify the foreign exchange management policies applied in the opening-up of China's bond market.

The central bank said it will be deeply involved in global financial governance and safeguard multilateralism.

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