China signals financial cooperation with foreign firms
Beijing, The Gulf Observer: During the 2022 Financial Street Forum annual conference, which concluded on Wednesday, China’s financial policymakers sent new opening-up signals, saying that investors from all over the world are welcome to explore the Chinese market and collaborate with China in accelerating global economic recovery.
“Opening-up has remained China’s fundamental strategy, and our financial industry is ushering in a phase of high-level opening-up,” Guo Shuqing, chairman of the China Banking and Insurance Regulatory Commission, said while addressing the forum.
Since 2017, the assets of foreign banks in China have increased by nearly 30 percent, and the assets of foreign insurance companies in China have expanded by roughly 120 percent, Guo said.”We will, as always, welcome foreign financial institutions with sound operations, good qualifications and outstanding specialization to participate in the Chinese market and share the growth opportunities of the century,” the chairman said.
