China’s State Financial Regulation Administration has announced its intention to tighten financial controls in accordance with the law. This was reported by TASS.
China has also pledged to expand the industry’s institutional openness. According to Xinhua, the Chinese regulator plans to coordinate its actions with other authorities to control all financial activities in the country.
At the same time, China has pledged to support foreign financial institutions with expertise in health and elderly care. Beijing plans to leverage its huge market to attract financial resources from around the world.
The Chinese regulator has emphasized the importance of effectively preventing major financial risks. In this way, it aims to achieve a balance between control and openness of the financial sector.
Before this, it was known that there was an influx of foreign direct investment into China throughout the year. decreased by 8%.
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