Opening of Foreign Investment in China to Curb its Financial Sector
December, 30 2016
China opens to more foreign investment in banking, insurance, securities and credit-rating firms as part of their expansion in finance as the second world’s largest economy. Although the period of reform is still uncertain. This lessens the concerns of foreign companies with the guidelines from National Development and Reform Commission (NDRC).
This move is directed towards liberalization of the financial sector and at the same time supports the shift of China towards services from being an industry-reliant country. At the same time, this resolves the incongruity in investment flows since high capital outflows caused the depreciation of Yuan for this year.
