Largest FTA to stimulate financial innovation

 Largest FTA to stimulate financial innovation

The implementation of the Regional Comprehensive Economic Partnership will strengthen financial ties among potential RCEP members and stimulate financial innovation, industry insiders said at a parallel session of the fourth Hongqiao International Economic Forum on Nov 5.

Chen Yulu, deputy governor of the People’s Bank of China, said via a video link that China will make more commitments of further opening-up its financial market by advancing the negative list mechanism.

China’s financial opening-up should be carried out under higher standards after the RCEP takes effect. Supervisory policies ought to be further optimized and more measurements should be arranged to provide a better environment for foreign companies to set up businesses in China, Chen said.

While financial opening-up should be further advanced, China’s regulators should improve their…

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