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China to allow more foreign investment in financial sector this year - PBOC

Reuters  |  BOAO, China 

BOAO, China (Reuters) - China will allow domestic and foreign financial firms to compete on an equal footing and "sharply" expand the business scope for foreign banks, central bank governor Yi Gang said on Wednesday.The pledge, made at the annual Boao Forum for Asia in southern Hainan province, echoed previous promises from Beijing to open the financial sector but comes at a time of heightened pressure on China from the United States over trade and access to China's markets.On the trade front, Yi said China and the United States should deal with their trade issues in a rational way, and added ...

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First Published: Wed, April 11 2018. 09:11 IST
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