March 23, 2019 / 6:44 AM / a month ago

China studies new round of financial sector opening - official

BEIJING, March 23 (Reuters) - China’s banking and insurance regulator is studying a new round of opening for the country’s financial sector, aiming to achieve the dual goals of greater access as well as stability, a senior official at the regulator said on Saturday.

Wang Zhaoxing, vice chairman of China Banking and Insurance Regulatory Commission, said China will allow foreign banks and insurance companies to increase their presence in China.

His remarks were made at the annual China Development Forum. Wang also said China plans to abolish quantitative restrictions for foreign financial firms. (Reporting by Kevin Yao; Editing by Tom Hogue)

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