Free Trial

Continue Opening-Up Financial Industry - PBOC Official

CHINA PRESS

China will continue opening its financial industry while maintaining financial security and stability, according to Jin Zhongxia, director-general at the International Department of the People's Bank of China. Speaking at the China International Financial Annual Forum, Jin noted the global economy saw more than 3% of payments made using yuan during July and cross border traders used the the currency for 24% of goods trade between Jan-July. Overseas entities now hold offshore yuan assets totalling CNY9.8 trillion, and China has recently shown the largest improvement in the OECD's index of restrictions on foreign direct investment in the financial industry. (Source: Yicai)

MNI Beijing Bureau | lewis.porylo@marketnews.com
MNI Beijing Bureau | lewis.porylo@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.