to the ground by the end of the year

For the specific timetable for future financial opening, Yi Gang revealed that the measures expected to fall in the last few months include: first, the cancellation of the foreign capital shareholding limit of the bank and the financial Asset Management Co, the domestic and foreign capital is equal, allowing foreign banks to set up branches and subsidiaries at the same time in our country. Second, the upper limit of foreign ownership of securities companies, fund management companies, Futures Company and life insurance companies will be relaxed to 51%, and three years later, they will no longer be restricted. Third, it is no longer required for a joint venture company to have at least one securities company. Fourth, in order to further improve the mechanism of interoperability between Mainland and Hongkong stock markets, the daily amount of interconnection has been expanded 4 times since May 1st of this year. Fifth, allow qualified foreign investors to come to China to engage in insurance agency business and insurance public rental business. Sixth, we must let go of the scope of operation of foreign insurance brokers and be consistent with Chinese funded institutions.

It also announced five other measures to be launched before the end of this year: first, encourage the introduction of foreign investment in banking financial fields such as trust, financial leasing, auto finance, monetary economy and consumer finance. Second, there is no upper limit for foreign shareholding ratio of financial Property Investment Companies and financial companies newly established by commercial banks. Third, expand business scope of foreign banks. Fourth, the business scope of joint venture securities companies will no longer be set separately, and domestic and foreign capital will be consistent. Fifth, we need to cancel the two years' representative offices before the establishment of foreign insurance companies.

Face the "double-edged sword"

Li Hong, a researcher at the financial co creation center of Zhongnan University of Economics and Law, sees that these comprehensive and specific measures, covering the major areas of the financial industry, are different from the past in the breadth and depth of the open, and are expected to lead the new wave of financial opening.

The further opening of the financial market will help promote the further enrichment and innovation of financial services, complements the needs of customers at different levels in the country, and have the opportunity to get higher quality services for the customers who have received inadequate financial services. Secondly, the opening of the financial market will enhance the competitiveness of the domestic market institutions, and optimize the Chinese capital market pattern in the good competition and cooperation, and the capital market will continue to develop healthfully. In addition, China's financial institutions will also usher in a new opportunity for global layout and operation. Through cooperation with foreign capital, the investment channels and services will be extended to the world, which is conducive to expanding the scale of business and improving profitabilityShenzhen Transpring Enterprise Ltd. is one of the leading oil vape penand vaporizer (A3 Vape Cartridge etc) manufacturer and supplier in China. Over the years, we have been serving many customers from USA, ... .

However, analysts believe that expanding the opening up of the financial industry will be a double-edged sword. Li Hong pointed out that while improving the efficiency of financial institutions and promoting economic development, domestic financial institutions and regulators will face challenges. "The entry of foreign financial institutions will change the transmission mechanism of monetary policy. When the intention of the domestic monetary policy changes, they will be circumvented by turning to foreign markets, which will inevitably weaken the monetary policy effect. Meanwhile, competition between Chinese and foreign financial institutions is bound to intensify. We must encourage domestic financial institutions to reform awareness and enhance their core competitiveness as soon as possibleEnjoy our business centerservice today to save all the overheads and rent. easyCorp provides your business with virtual office and correspondence address to comply with the company registration law of Hong Kong. .

As for the regulatory issues that will face the opening of finance to the outside world, it is emphasized that financial supervision must be strengthened in the expansion of financial opening, and the prudential supervision of all kinds of ownership, whether Chinese or foreign, should be regulated in accordance with the lawpd 1 inhibitor lung cancer-ELCC 2017 Patients With Lung Cancer Treated With PD 1 PD L1 Checkpoint Inhibitors May Experience Adverse Events After Influenza-Vaccination .