Continued opening-up helps foreign finance cos
China DailyA pedestrian walks past a Standard Chartered sign in the Central district of Hong Kong on February 24, 2017. China's unwavering efforts to further financial sector opening-up will provide more business opportunities to foreign investors and boost confidence among financial institutions in China, business executives and experts said. As an integral part of Standard Chartered Bank's China strategy, SCSCL received establishment authorization by the CSRC in January and completed legal entity registration in May, becoming the first newly established wholly foreign-owned securities company after China scrapped foreign ownership restrictions for securities, fund management and futures companies in 2020. Dong expects the financial sector to deepen reform and expand opening-up through measures including expanding business scope of foreign companies, and supporting foreign investors to establish more institutions in China. Li Peijia, a senior analyst at Bank of China, said that the continuous improvement of China's business climate and its economic prospects have been jointly boosting confidence among foreign financial institutions in the Chinese market.