China to be bolder in opening up financial sector: Central Bank Governor

March 9, 2018

BEIJING - China is likely to reduce reliance on wide capital support for economic growth as the country seeks high-quality development, China's central bank governor, Zhou Xiaochuan, said today.

Liquidity conditions might not necessarily become tight as China improves utilisation efficiency of broad money supply, Zhou, Head of the People's Bank of China, told a press conference on the sidelines of the first session of the 13th National People's Congress.

China’s State newsagency, Xinhua, quoted Zhou as saying China would also be bolder in opening up of its financial sector.

This included not only widening market access for foreign investors, but the global expansion of China's domestic financial institutions and promotion of the global use of the yuan, he said. (ATI).