Largest FTA to stimulate financial innovation

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The implementation of the Regional Comprehensive Economic Partnership will strengthen financial ties among potential RCEP members and stimulate financial innovation, industry insiders said at a parallel session of the fourth Hongqiao International Economic Forum on Nov 5.

Chen Yulu, deputy governor of the People’s Bank of China, said via a video link that China will make more commitments of further opening-up its financial market by advancing the negative list mechanism.

China’s financial opening-up should be carried out under higher standards after the RCEP takes effect. Supervisory policies ought to be further optimized and more measurements should be arranged to provide a better environment for foreign companies to set up businesses in China, Chen said.

While financial opening-up should be further advanced, China’s regulators should improve their capabilities regarding…

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