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China's central bank governor: There is room for more openness in the financial sector

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rocky
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China's central bank governor: There is room for more openness in the financial sector

Post by rocky on Tue 29 May 2018, 5:24 am

China's central bank governor: There is room for more openness in the financial sector






2018/05/29 13:00


(Encyclopedia of this Day News | Iraq News ) - Direct: Governor of the Central Bank of China said that there is scope for further opening up the financial sector in Beijing, pointing at the same time that the financial regulators need to strengthen the sector control.

Yang said at an annual conference in Beijing on Tuesday that monetary policy makers should put pressure on efforts to support the opening of the financial sector, easing foreign exchange restrictions and gradually removing cross-border transaction restrictions, the Bloomberg news agency reported.

In this new era, the financial sector still has many spaces to open up to economic requirements and financial developments, he said.

At the same time, the governor of the Chinese Central Bank explained that access to full transformation in the capital account will be a long and slow process.

Yang warned of the very sudden opening up, citing Thailand's 1997 crisis, "China will make sure that these reforms are implemented gradually."


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