Vice-Premier He Lifeng has vowed that China will continue to expand the “high-level opening up” of its financial sector and welcome more investment by foreign financial institutions and long-term capital.
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“China will unswervingly expand high-level opening up in the financial sector and accelerate the building of a modern financial powerhouse,” he said in a statement published on Tuesday.
The Chinese vice-premier made the comments during a meeting with the National Financial Regulatory Administration’s International Advisory Council – made up of current and former leaders of foreign financial firms and institutions – in Beijing on Tuesday.
He also welcomed deeper cooperation with China by more foreign financial institutions, according to the statement.
At the meeting, the vice-premier briefed council members on China’s economic and trade relationship with the United States. He held talks with US Treasury Secretary Scott Bessent in Malaysia at the weekend that, according to the Chinese side, led to “basic consensuses”. Those talks were held ahead of an expected meeting between President Xi Jinping and US counterpart Donald Trump in South Korea tomorrow that Beijing has yet to confirm.
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Council members expressed their optimism about China’s economic and financial prospects, according to the statement. They said they were willing to continue cultivating the Chinese market and further expand investment and cooperation with China.