(2020 Service Council) Deputy Governor of the People's Bank of China: The negative list of foreign investment access in the financial industry has been officially cleared
China News Service, Beijing, September 6 (Reporter Wang Enbo) Chen Yulu, deputy governor of the Central Bank of China, said in Beijing on the 6th that the negative list of foreign investment access in China's financial industry has been officially cleared.
Data map: People's Bank of China.
Photo by China News Agency reporter Zhang Xinglong
As the main forum event of the 2020 China International Trade Fair Financial Services Exhibition, the 2020 China International Finance Annual Forum will be held on the same day.
Chen Yulu said in her speech that since the outbreak of the epidemic, while serving the domestic economy, China's financial industry has continuously pursued a higher level of opening up, actively participated in global economic and financial governance, and strived to assume necessary international financial responsibilities.
On the one hand, China has lifted restrictions on foreign shareholding in banking, securities, futures, and fund management, and lowered restrictions on shareholder qualifications such as asset size and operating life. At the same time, it has also used corporate credit investigation, credit rating, payment and settlement, etc. Give national treatment to foreign capital and actively promote the integration of accounting, taxation and transaction systems with international standards.
Chen Yulu said that in the new negative list of special management measures for foreign investment access released this year, the negative list of financial industry access has been officially cleared.
At present, more foreign capital and foreign institutions are entering China's financial market in an orderly manner.
On the other hand, China is also actively participating in international financial governance and promoting the RMB to become a better international reserve currency.
At present, the renminbi is the world’s fifth largest payment currency and official foreign exchange reserve currency. More than 70 central banks around the world have included the renminbi in their official reserves. At the same time, the international appeal of renminbi financial assets is becoming stronger and stronger.
As of the end of July, the balance of domestic renminbi financial assets held by overseas institutions and individuals has increased to 7.74 trillion yuan, a year-on-year increase of 37%.
As the reform and opening up of China's financial service industry continue to deepen and expand, the renminbi can carry greater international responsibilities in the future.
In the reform and opening up of the financial service industry, the application of new science and technology is also a key factor that cannot be ignored.
Chen Yulu said that in general, China's financial technology has shown a good situation in recent years with rapid development, good growth quality, and continuous optimization of structure, but the problems of unbalanced, insufficient, and irregular development are still prominent.
At present, the central bank is actively building a regulatory technology application framework, improving the basic regulatory system, and will strive to create a better environment for the development of financial technology.
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