China Introduces More Measures to Open Up Financial Sector

August 05, 2019 | BY

Marilyn Romero

China has unveiled 11 measures to open up the country's financial sector and scrap foreign shareholding caps in most financial sectors in a bid to bolster and stabilize growth.

Financial Services

Until recently, China’s financial sector was considered a sensitive area and foreign investment in the segment was heavily restricted. In the past few years, however, the sector has witnessed a steady stream of initiatives to open it up to foreign players. The latest round of measures, “Relevant Measures for Further Opening Up the Financial Sector”, were announced by the Office of Financial Stability and Development Committee of China’s State Council on July 20.

Eleven new measures were unveiled after a high-level meeting chaired by Vice Premier Liu He, and policymakers discussed the steps required to counter the rising risks and challenges facing the $44 trillion finance industry. Four measures target the insurance sector; three cover the bond sector; two are linked to wealth management; and two are connected with the securities business.

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