China Provides Equal Treatment for Foreign Financial Institutions in Free Trade Zones
In a move to bolster the financial sector in designated free trade zones, China will grant foreign financial institutions equal treatment to their domestic counterparts in providing novel financial services not currently offered in the country. This decision was announced by the central bank on Wednesday.
To further support foreign investments in these zones, the government will simplify the transfer of funds associated with inbound and outbound investments in areas such as Beijing and Shanghai. The initiative was outlined in guidelines released jointly by five government agencies.