China Financial Watchdog Vows to Further Open Up, Curb Risks

(Bloomberg) — China will continue to open up its $60 trillion financial market to foreign banks and investment firms while sticking to the bottom line of preventing systemic risks, the nation’s new top regulator said.

The nation will “unswervingly” open up its financial sector and welcome quality foreign financial institutions to China, Li Yunze, head of the National Financial Regulatory Administration, said Thursday at the Lujiazui Forum in Shanghai.