Regulation

Trade talks pressure China to open up financial sector – analysts

China wants to increase the competitiveness of its financial institutions by allowing more foreign banks and insurers to enter the domestic market more easily and speedily.

It has been a long time coming but with its feet to the fire as economic growth slows and a more belligerent US government squeezes it on trade, Beijing is biting the bullet of financial reform just that little bit harder. 

The latest move  and there have been several such moves in recent months  came last Tuesday when China said that it would remove some of the obstacles stopping foreign banks and insurers from entering the Chinese market.

What this might mean in practice, given the propensity for approvals to get bogged down in bureaucratic processes, remains to be seen. 

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