MNI BRIEF: China To Support Foreign Participation In Finance

China will support foreign-funded companies to participate in more pilots of financial business in the country, especially in exclusive pension insurance and commercial pensions, said Li Yunze, director of the National Administration of Financial Regulation on Wednesday.

Speaking at the Lujiazui Forum in Shanghai, Li said authorities will benchmark the relevant rules in the financial field in international high-standard economic and trade agreements to explore greater and wider opening up.

Authorities will support foreign companies to increase investment in wealth management, asset allocation and insurance planning, Li said, noting that the scale of entrusted assets in China witnessing an average 8% annual growth in the past five years.

Authorities will also improve regular communication with foreign companies and optimise relevant policies to allow them to develop in a more friendly and inclusive environment, Li added. (See MNI INTERVIEW: German FDI In China To Remain Strong - Chamber)