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在线翻译:
szdaily -> Business_Markets -> 
Foreigners to gain greater access to banking sector
    2017-10-20  08:53    Shenzhen Daily

CHINA’S top banking regulator said Thursday that the country will further open up its banking sector to foreign investors and crack down on business irregularities to prevent financial risks.

“We will give foreign banks more space in the form of their establishment, shareholder qualifications, the percentage of their shareholding and their scope of business,” said Guo Shuqing, chairman of the China Banking Regulatory Commission (CBRC) at a news conference.

Foreign banks’ market share in China has decreased to 1.2 percent now from 2.4 percent 10 years ago, Guo said.

“This is not beneficial for promoting competition and structure optimization,” he said.

Guo also said China will strengthen regulatory management for the disposal of nonperforming loans (NPLs) and continue to contain financial risk while curbing any rise in hidden debt.

Regulators will also guard against cross-market financial risks while further deepening reforms, he said.

The central bank is drafting a package of reforms which would give foreign investors greater access to China’s financial services industry, people familiar with the matter said last month.

(SD-Agencies)

 

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