BEIJING, Aug. 9-- China will resolutely push forward the opening-up of the country's financial industry regardless of how the international situation changes, the central bank governor told Xinhua in a recent interview. China will continue implementing the phase-one economic and trade agreement with the United States, while measures announced to open up China's financial sector will continue, said Yi Gang, governor of the People's Bank of China. Yi cited measures such as abolition of the investment quota limits for Qualified Foreign Institutional Investors (QFII) and Renminbi Qualified Foreign Institutional Investors (RQFII), and allowing enterprises like American Express, MasterCard and Fitch Ratings to enter China's market. Meanwhile, China will promote a full implementation of the foreign investment administration model of pre-establishment national treatment plus negative list, and unify the foreign exchange management policies applied in the opening up of China's bond market, he added. China will be deeply involved in global economic and financial governance, and safeguard multilateralism, he said. The central bank governor said China will participate constructively in the G20 Debt Service Suspension Initiative and extend support to developing countries, emerging economies and low-income countries. China will advance the internationalization of the renminbi (RMB) and capital account convertibility in a proactive and sound manner, Yi said, noting a good momentum for RMB's internationalization at the moment. |