BUSINESS Financial regulator stresses moves to break monopolies, unfair competition

BUSINESS

Financial regulator stresses moves to break monopolies, unfair competition

People's Daily app

14:02, October 20, 2021

China will continue to make strong moves to break monopolies and unfair competition in some fields of China's finance, an official said.

File photo: scio.gov.cn

China’s financial system is highly open, competitive, fair and maintains inclusive, and beneficial for all, with great vitality, said Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, in an interview with People's Daily published on Wednesday.

Regulators will remain vigilant against illegal activities, to keep the financial system safe and stable while pursuing progress, Guo noted.

Regulators will take proactive measures to support the development of private businesses with a better financial environment, by upgrading banks with digital and smart technologies, and creating more convenient financial services and more financing channels, Guo added.

(Compiled by Lyu Xingke)

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