PBOC reiterates future plans to open up finance sector

Virus outbreak won’t put brake on liberalization of the economy, official says 

by Chris Gill
PBOC talks about future plans to open up finance sector
Chen Yulu, deputy governor of the People’s Bank of China. 

(ATF) – Chen Yulu, deputy governor of China’s central bank, said on CCTV that since the Covid-19 outbreak, the financial system has fully supported the prevention and control of the epidemic and the orderly resumption of work and production. 

Also, due to the virus, some implementation of financial liberalization measures have not been implemented, Chen said. The government is planning 30 new measures, 11 in the Shanghai International Financial Center, to further promote high-level financial openness and transparency.

This year is a crucial one for "financial opening up", Chen added, because of the planned removal of restrictions on foreign shares in securities companies, fund management companies and futures companies. 

Chen said the People’s Bank of China (PBOC) is intensively assisting the relevant departments to promote the revision of relevant laws and regulations and to ensure that all such measures are implemented on time.