(Economic Observation) Under the epidemic, China continues to sing the "main play" of financial opening

　　China News Service, Beijing, January 7th (Reporter Wang Enbo) Since last year, despite the impact of the new crown pneumonia epidemic, China's financial industry has still been opening up to the outside world.

　　Remove restrictions on foreign shareholding in securities companies, fund management companies, and futures companies; "Administrative Measures for Domestic Securities and Futures Investment by Qualified Foreign Institutional Investors and RMB Qualified Foreign Institutional Investors" is released to further facilitate foreign investment in the domestic capital market; Approval of Express and MasterCard , Fitch and other institutions have entered the Chinese market... A series of financial opening measures that will be implemented in 2020 have made foreign institutions “sense”.

　　At a press conference held by the China Banking and Insurance Regulatory Commission on the 7th, Zhang Xiaoyu, executive director and general manager of AIA Life, lamented that the establishment and smooth development of the company is the result of the deepening reform and opening up of China's financial industry.

　　AIA Life was approved in the first half of 2020, becoming the first wholly foreign-owned life insurance company in Mainland China.

Zhang Xiaoyu noted that in the past two years, the "one bank and two meetings" announced more than 50 opening measures, and China's financial industry has accelerated its opening up to the outside world. This will not only promote the new development pattern of domestic and international dual cycles, but also better serve foreign-funded enterprises. The Chinese people provide great opportunities.

　　Chen Feng, president of Fubon Huayi Bank, a Taiwan-funded financial institution who also attended the press conference, introduced that the bank has become the largest Taiwan-funded bank in mainland China, with the most complete licenses and the most services for Taiwanese businessmen, with 27 outlets in 12 cities in the mainland , The scale of assets exceeded 100 billion yuan, and last year’s after-tax net profit increased by more than 30% year-on-year. “These are all closely related to the opening up of mainland China.”

　　Chen Feng specifically mentioned that, especially in the past two years, the openness and transparency of the financial management department's opening policy, coupled with the predictable environment, has brought Fubon China First Bank to a new level.

　　Under the epidemic, China's economy has thrived on a global scale, and the two-way financial opening has also been promoted in a steady and orderly manner.

The stability and certainty brought about by this have made foreign institutions more confident in the Chinese market.

　　Zhu Tong, general manager of Deutsche Bank China and chairman of Deutsche Bank (China) Co., Ltd., told reporters that as China's capital market continues to expand and open up, Deutsche Bank sees many good opportunities.

　　For example, the signing of the Regional Comprehensive Economic Partnership Agreement (RCEP) and the completion of negotiations on the China-EU bilateral investment agreement will continue to strengthen the trade interconnection between Asia-Pacific economies and strengthen China-EU investment ties, which will bring a large number of two-way investment and financing business opportunities.

At the same time, China's wealth management industry has developed rapidly in recent years, the scale of asset management has continued to increase, and the rapid accumulation of wealth has significantly increased Chinese customers' demand for services such as risk management, inheritance planning, corporate transformation, and family governance.

　　"For all foreign companies, China is definitely where the greatest potential for development." In Zhang Xiaoyu's view, the development potential of the global insurance industry is mainly concentrated in Asia, and the focus of Asia is in China.

　　Zhang Xiaoyu is particularly optimistic about the opportunities brought by the Healthy China Initiative.

He said that AIA Life will continue to promote product upgrades and service innovation based on its own business advantages and the growing public demand for high-quality, integrated health services and multi-level and diversified pension protection, and create a “full-process health protection” health Ecosystem strives to provide Chinese people with all-round, full-cycle, and whole-population health protection and services, helping the construction and implementation of "Healthy China 2030".

　　More and more overseas financial institutions are increasing their business layout in China. Is there a good future for financial opening up?

In this regard, Chairman Guo Shuqing of the China Banking and Insurance Regulatory Commission has given a clear answer.

He emphasized that it is necessary to encourage Chinese and foreign institutions to cooperate in products, equity, management and talents to expand the breadth and depth of openness.

Improve supporting systems and infrastructure construction, and create a more market-oriented, legalized, and international business environment.

(Finish)