China announces new financial policies in southern province of Hainan By Reuters

0
21


BEIJING/SHANGHAI (Reuters) – China’s financial regulators announced a slew of measures on Friday to further open up financial services in the southern province of Hainan, including enhancing yuan convertibility and allowing market access to foreign investors.

The measures also include further facilitation of Hainan residents’ personal forex use, and allowing qualified non-bank financial institutions to participate in the interbank foreign exchange market, the People’s Bank of China said in a joint statement with other financial regulators.

Regulators will also support the establishment of joint-venture banks in Hainan and allow companies in the province to issue yuan-denominated products overseas, including bonds, according to the statement.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.