Bank and Finance English Handbook

Author: Xia Xiaogang
Publisher:
Publish Date: 2002-01-01
Features: With the entry into the WTO, China must make certain concessions in the opening of its financial services sector and fulfill corresponding obligations. The United States and Western Europe's demands regarding China's financial services sector focus on expanding the scope of opening, relaxing market access conditions, broadening the business scope of foreign-funded financial institutions, and allowing foreign-funded financial institutions to provide services to Chinese citizens. They also require China to make substantial improvements to the "Offering Schedule" it provides and submit a specific timetable for opening. China's policy of opening up will not change, and the steps for opening its financial services sector should be proactive and prudent.