China’s Financial Industry is Accelerating

taxation advisory in china

The Opening Up of China’s Financial Industry is Accelerating.

In 2nd May 2018, the China Financial Industry is Accelerating, The CBRC has formally approved ICBC-AXA Life Insurance Co., Ltd. This is the first domestic Joint Venture capital management company approved since the opening of the financial industry. The same day, the People’s Bank of China received the British cross-border credit enterprise “World First” application to the third payment market. It means China’s third-party payment field is also open to foreign investment. The People’s Bank received world leading company Experian application for doing business in China, Credit markets start to embrace the enterprises from all over the world, China’s Financial industry develops faster than ever.

Not only Chinese enterprises are eager to financial opening up widely, civilian also want to buy high-quality financial products more easily at home. China’s financial system is not what it used to be. It is not afraid of opening competition, and it is conducive to improving the overall competitiveness of the financial industry.

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