Business Standard

China central bank unveils plan to build Shanghai into a financial centre


BEIJING (Reuters) - China's central bank issued a plan on Thursday on building Shanghai into an international financial centre, and reiterated that it will step up the opening of its financial services sector.
China will expand the scale of asset-backed securitisation in Shanghai and widen the channels for overseas yuan liquidity to flow back to the country, the People's Bank of China (PBOC) said in a statement on its website.
The PBOC also said China will set up an investment and financing centre in Shanghai for the nation's signature Belt and Road initiative.
(Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk)

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First Published: Jan 31 2019 | 12:55 PM IST

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