China should ease regulations so that foreign financial institutions can obtain ...
Peter Wong, deputy chairman and chief executive of HSBC’s Asia Pacific operations, also told a financial summit in Shanghai that China needs to improve corporate governance and investor protection to mitigate systemic risks.
China has stepped up opening its giant financial industry amid a bruising trade war with the United States. Earlier this month, regulators announced a firm timetable to fully open its futures, brokerage and mutual fund sectors to foreign investors in 2020. But other regulations also need to be relaxed, he said, for example to allow HSBC to expand its insurance business more easily into new cities and provinces in China.
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