Investing
Beijing may allow foreign financial firms to list in China – ex-finance minister
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/LYNXMPEA601E0_L.jpg)
© Reuters. FILE PHOTO: A man wearing a mask walks by the Shanghai Stock Exchange building at the Pudong financial district in Shanghai, China, February 3, 2020. REUTERS/Aly Song/File Photo
SHANGHAI (Reuters) – China will encourage foreign capital to participate in its financial markets and may allow foreign-funded financial institutions to go public in the country when “conditions are ripe”, local media quoted a former finance minister as saying on Saturday.
Such moves would be in line with the country’s opening up of its financial industry, Lou Jiwei told the Global Asset Management Forum in Beijing, according to the 21st Century Business Herald newspaper.
At the same event, Cao Yu, vice chairman of the China Banking and Insurance Regulatory Commission, was quoted by the Shanghai Securities News as saying China would respond to the demands of foreign financial institutions and promote the common development of Chinese as well as foreign-funded banking and insurance entities.
China has been stepping up efforts to woo foreign companies and investors to aid an economic recovery after the dismantling of its zero-COVID policy late last year. It has sped up fund license approvals for foreign asset managers in recent months.
Lou also commented on the recent collapse of Silicon Valley Bank, saying Chinese authorities attached great importance to preventing and resolving systemic risks and were trying to improve financial supervision with the creation of a new financial regulatory body.
“We will also continue to cooperate with the financial regulatory agencies of other countries to jointly prevent and resolve systemic risks in the global financial system and maintain the stability and prosperity of the global financial market,” he added, according to the newspaper.
Read the full article here
![](https://personalfinancedefined.com/wp-content/uploads/2023/02/pf-logo.png)
-
Personal Finance6 days ago
Gas prices drop as demand for driving fizzles out: AAA
-
Investing6 days ago
Crowdstrike CEO Responds to Causing Largest IT Outage in History
-
Side Hustles6 days ago
How to Build A Startup, From an Early Lyft, Twitch Investor
-
Passive Income6 days ago
The Top 5 AI Tools That Can Revolutionize Your Workflow and Boost Productivity
-
Passive Income4 days ago
NLRB Drops Expanded Joint Employer Appeal
-
Side Hustles6 days ago
Jake Paul: Mindset Hacks, Mike Tyson Fight, Embracing Fear
-
Investing6 days ago
Boeing to supply E-7 in first major win since plea deal By Reuters
-
Side Hustles5 days ago
10 Effective Growth Marketing Strategies for Your Startup