国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Macro

China should reduce restrictions on foreign capital, senior economists say

By Wang Yanfei | China Daily | Updated: 2017-09-25 07:52

China should further reduce restrictions on foreign investors and advance efforts to continue opening up the financial sector, a former senior official with the International Monetary Fund said on Saturday.

"Granting more access to foreign financial institutions can be our next incremental step of further opening up," said Zhu Min, economist and former deputy managing director of the IMF. "We have pledged to treat foreign and domestic investors equally in certain areas, and now a good time has arrived to take concrete steps."

Some efforts can be made in the short run, include raising the current 25 percent stake of foreign investors in banks and in securities companies, according to a report on Saturday by China Finance Forum 40, a leading think tank.

In the medium to long run, the government should take more steps connecting domestic and foreign bond markets and fully open up the domestic stock market to foreign investors in the future, the report said.

Zhu said the government should also provide greater convenience to foreign investors, making tax and audit policies more compatible with international standards.

While many restrictions have been removed since China started to open up the financial sector in 1978, progress has slowed in recent years, according to Huang Yiping, an economist and central bank adviser.

The share of foreign capital in the Chinese stock market is only around 5 percent compared with around 30 percent in the South Korean market, and foreign capital only accounts for around 2 percent of the Chinese bond market, compared with 10.5 percent in Japan.

"China has reached the right time to further open its borders to more foreign players," Huang said.

More diversified market players help promote economic growth and help dissolve financial risks, according to Huang.

In the meantime, China needs to reduce control over fluctuations in the yuan's exchange rate, gradually allowing the renminbi to float freely against other currencies, according to Zhang Bin, one of the authors of the report.

The report said the government does not need to keep a close eye on the currency on a daily basis.

Rather, the government only needs to intervene when the currency sees a sharp depreciation or appreciation that goes beyond a benchmark of, say, 7.5 percent over a year on either side of a reference rate, the report said.

"Stable economic fundamentals and better market expectations for the yuan's exchange rate paved the way to move ahead," Zhang said. "We should not miss the opportunity. Reform comes at minimal costs when all signs are in favor of reform."

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
 
洮南市| 木里| 靖西县| 宜章县| 龙泉市| 洮南市| 台湾省| 大埔县| 呼玛县| 称多县| 泰安市| 鄂伦春自治旗| 开远市| 定远县| 汉阴县| 东山县| 榆林市| 象山县| 南溪县| 襄垣县| 英山县| 和静县| 友谊县| 八宿县| 锡林郭勒盟| 监利县| 达日县| 勃利县| 项城市| 峨眉山市| 长春市| 津市市| 安西县| 临城县| 漳州市| 乐昌市| 汶川县| 达日县| 乳源| 柳河县| 宜丰县|