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Protectionism would compromise China's financial sector - PBOC's Zhou

Reuters  |  SHANGHAI 

(Reuters) - Healthy financial institutions are a prerequisite for preventing a financial crisis and further opening will strengthen the sector, China's central governor Zhou Xiaochuan said on Tuesday at a forum in

Some vested interests have argued in favor of protecting the financial sector until domestic players were strong, but protectionism would only compromise the competitiveness of the sector, Zhou said.

The financial services industry had benefited from opening up, and must continue to do so, he said.

(Reporting by Andrew Galbraith and Winni Zhou; Writing by John Ruwitch; Editing by Shri Navaratnam)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)