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China Has a Lot of Financial Opening Up to Do, Says Central Bank

  • PBOC Governor Yi Gang spoke at China Development Forum
  • PBOC has withdrawn from day-to-day currency intervention: Yi
People walk out of a building in Beijing's central business district.

People walk out of a building in Beijing's central business district.

Photographer: Greg Baker/AFP via Getty Images

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The openness of China’s financial markets to the rest of the world isn’t high, so there’s a lot of room for increased access, according to People’s Bank of China Governor Yi Gang.

Yi said foreign financial services institutions should be treated the same as domestic ones in terms of shareholding proportions, scope of business and licenses. Speaking at a forum in Beijing on Sunday, he said the central bank will focus on providing more hedging tools in 2019 to help investors manage risks.