国产av不卡一区二区_欧美xxxx做受欧美_成年人看的毛片_亚洲第一天堂在线观看_亚洲午夜精品久久久中文影院av_8x8ⅹ国产精品一区二区二区_久久精品国产sm调教网站演员_亚洲av综合色区无码一二三区_成人免费激情视频_国产九九九视频

Global EditionASIA 中文雙語Fran?ais
Business
Home / Business / Finance

Strong efforts to further open financial sector 'beyond expectations'

By Jiang Xueqing | China Daily | Updated: 2020-01-02 09:57
Share
Share - WeChat
Billboards of foreign and domestic financial institutions are seen on a street in Shanghai. [Photo by Yan Daming/For China Daily]

China has accelerated the opening-up of its financial sector by launching a series of policies and measures last year, said financial practitioners and experts.

Nomura Holdings Inc's majority-owned securities joint venture in China, Nomura Orient International Securities Co Ltd, opened for business in Shanghai on Dec 20. It became the first newly formed securities joint venture, in which the foreign side holds a controlling interest, that has opened for business in China.

Nomura owns 51 percent of the outstanding shares of the joint venture, whose registered capital is 2 billion yuan ($287 million), Orient International (Holding) Co Ltd 24.9 percent, and Shanghai Huangpu Investment Holding (Group) Co Ltd 24.1 percent.

"It was beyond market expectations that China made strong efforts to push further opening-up in the financial sector last year, bringing a number of business opportunities for foreign institutions," said Tang Shengbo, head of China financials research at Nomura.

The country will lift foreign ownership limits on securities, fund management and futures companies by 2020, a year ahead of schedule, said the State Council's Office of Financial Stability and Development Committee on July 20 when it announced 11 measures to further expand the financial sector's opening-up.

Encouraged by policies, foreign shareholders of a joint venture in China may hope to take a controlling interest in the company or even hold 100 percent of its shares. Besides, some foreign financial institutions, which either withdrew from joint ventures they previously formed with Chinese partners or have not yet conducted business in the country, may apply for new business licenses or re-enter the Chinese market through mergers and acquisitions, analysts said.

"Foreign investors are now willing to invest in China's financial market, and the country is removing regulatory barriers to foreign investment. As the financial market is comprehensively opening up in many sectors including insurance, asset management and mutual funds, there is a lot to do for foreign investors in different business segments," Tang said.

Tang noted that foreign insurers holding a controlling ownership interest in joint ventures in China can set up asset management companies later, just like their Chinese counterparts.

"Recently, regulators have kept highlighting the principle of equal treatment for foreign and domestic investment. Many foreign-invested companies will think of ways to take the opportunity," he said.

"Policymakers and regulators need to make detailed rules for the implementation of these policies. They may even allow some existing regulatory frameworks of Chinese investment to be applied to foreign investment," Tang added.

China's accelerated opening-up of its financial sector since April 2018 will also bring development opportunities for the country's commercial real estate market, said Cushman& Wakefield, a global real estate services firm, in a report issued on Dec 18.

"As overseas financial institutions keep coming to China, they will bring business opportunities to the office market in first-tier cities and certain core second-tier cities. Meanwhile, overseas insurers will enter the Chinese market continuously and will hopefully give strong support to the bulk properties investment market," said Wei Dong, head of North China research at Cushman& Wakefield.

CG Lai, CEO of BNP Paribas (China) Ltd, said: "The year 2019 marked a set of milestones for China's further reform and opening-up of its financial sector, sending a strong signal of the country's determination to uphold an even more open economy, laying solid groundwork for further market liberalization and injecting confidence into all foreign financial institutions in the Chinese market.

"We believe that the policies toward liberalization are enabling foreign subsidiaries and branches in China to be more connected with their international franchise network, easing the procedures to leverage resources from parent companies, which ultimately address the growing and robust demands from both foreign and domestic clients."

BNP Paribas is one of the first two foreign banks that have received a Type A Corporate Bond Lead Underwriting License from the National Association of Financial Market Institutional Investors after China announced 11 measures in July to promote the further opening-up of the financial sector, allowing foreign banks to apply for such licenses.

"For all foreign financial institutions in China, the world's second-largest credit market is definitely appealing and will inspire a wider array of cooperative models and tailored products among domestic and local players," Lai said.

"Alongside a deepened engagement of foreign institutions in China over the past few years, market governance will be enhanced, driven by the participation of all, and we are confident it will reach new heights through an even more open financial environment in the near term," he said.

Further opening-up of China's financial sector will particularly benefit foreign asset managers, life insurers and securities brokerages, for some of the skills they have in these niche markets are not yet mastered by their Chinese counterparts, said Nicholas Zhu, vice-president and senior credit officer at Moody's Investors Service.

US-based asset manager Vanguard and Ant Financial Services Group announced on Dec 14 they had established a joint venture to provide a fund investment advisory service to Chinese individual investors, as approved by the China Securities Regulatory Commission. Ant Financial holds a 51 percent stake in the joint venture whose registered capital is 20 million yuan, and Vanguard holds 49 percent.

Back in 2017, Vanguard launched its wholly foreign-owned enterprise in China-Vanguard Investment Management (Shanghai) Ltd-in Shanghai free trade zone.

Charles Lin, chief executive officer of Vanguard Asia and chairman of Vanguard Investment Management (Shanghai) Ltd, said: "China's new round of opening-up of its financial sector provides foreign asset managers a rare opportunity to enter the Chinese market. Following the launch of a series of policies, the country will make big progress in its asset management industry, which will help the industry to keep up with international standards and practice."

In the past, many domestic asset managers took distribution channels and sales capability as the core of the asset management business. They built their resources, experience and abilities mainly in terms of looking for credit assets and designing financial products that were nested in multiple layers. However, as far as Vanguard is concerned, investment and asset management capabilities lie at the core of asset management, Lin said.

"As foreign asset managers, we think the road map for China's opening-up of its financial sector is crystal clear, and we believe the Chinese market will open up continuously. This has further consolidated foreign institutions' long-term confidence in China and has also given us clearer directions," he said.

"We hope that our company and the Chinese market and financial system will learn from each other, become accustomed to each other, and grow together. Only by building a better financial market and business environment through multi-party efforts, could we provide higher quality services to investors more efficiently."

Vanguard is looking forward to bringing its experience and advantages in mutual fund product investment, research and development in the US and other developed countries to China, promoting practices to develop an enduring investment philosophy, and launching mutual fund products, which are suitable for long-term investment by individual and institutional clients, he said.

Top
BACK TO THE TOP
English
Copyright 1994 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
CLOSE
 
www视频在线播放| 国产一区二区三区91| 日韩毛片一区| 天堂√中文最新版在线| 7777kkk亚洲综合欧美网站| а√天堂在线官网| 免费不卡视频| 日本黄色片在线观看| 第九色区av在线| 污网站在线看| 色久视频在线播放| 小明精品国产一区二区三区 | 第一区第二区在线| 91精品国产自产在线丝袜啪| 亚洲精品v亚洲精品v日韩精品| 国产精品xnxxcom| 国产精品色婷婷在线观看 | 国产精品网站一区| 国产欧美日韩卡一| 国产精品无码永久免费888| 国产欧美精品日韩区二区麻豆天美| 国产亚洲一区二区三区在线观看| 欧美图片欧美激情欧美精品| 中文字幕人成高清视频| 乱人伦中文字幕在线zone| 中文娱乐网av| 日韩欧美在线网站| 一区精品在线播放| 中文字幕永久在线不卡| 日本一区二区三区视频视频| 国产精品久久久一区麻豆最新章节| 中文字幕精品综合| 亚洲精品视频一区| 午夜私人影院久久久久| 色偷偷久久一区二区三区| 在线区一区二视频| 欧美电影在线免费观看| 精品伦理精品一区| 亚洲午夜精品视频| 久久久极品av| 97av在线影院| 韩国视频一区| 九九热在线免费视频| 3344永久| 在线视频资源站| jizz视频在线观看| 免费在线看电影| 国产成人精品123区免费视频| 国产精品传媒麻豆hd| 日本高清久久| 欧洲三级视频| 亚洲特色特黄| 日本在线不卡一区| 国产成人精品网址| 国产农村妇女精品| 亚洲成人7777| 91视频亚洲| 97超碰资源站在线观看| 涩涩av在线| 国产一区二区三区免费观看在线| 九色丨蝌蚪丨成人| 91超碰成人| 日韩主播视频在线| 成人v精品蜜桃久久一区| 中文字幕一区二区三区在线不卡| 午夜精品福利一区二区蜜股av| 欧美午夜一区二区| 亚洲精品久久在线| 美乳少妇欧美精品| 天堂tv亚洲tv日本tv欧美人tv| 写真福利片hd在线播放| 国产网站av| 最新国产在线观看| 黑人巨大亚洲一区二区久 | 国产美女视频91| 久久精品人人做| 亚洲高清免费观看高清完整版在线观看 | av影音在线| 午夜视频在线免费| 色呦呦呦在线观看| a一区二区三区亚洲| 国产免费久久| 欧美一区=区| 99久久综合色| 亚洲第一成年网| 日韩天堂在线观看| 最新天堂资源在线资源| 永久免费精品影视网站| 欧美精品18videosex性欧美| 久热在线视频精品网站| www.777色| 大片免费播放在线视频| 8090成年在线看片午夜| 欧美日韩久久久| 国产亚洲欧美日韩一区二区| 2018中文字幕一区二区三区| 九九热在线免费视频| 四虎精品成人影院观看地址| 岛国片av在线| 国产一区丝袜| 亚洲激情网站| 99在线热播精品免费| 亚洲二区在线视频| 亚洲国产精品久久久久秋霞蜜臀| 欧美激情精品久久久久久变态 | 久草在线中文最新视频| 欧美调教网站| 亚洲欧美激情诱惑| 久久九九99视频| 在线精品国精品国产尤物884a| 亚洲欧美综合图区| 一区二区三国产精华液| 理论片鲁丝二区爱情网| 日本高清在线观看视频| 国产精品成人自拍| 亚洲欧美视频| 国产欧美精品一区aⅴ影院| 欧美日韩在线一区二区| 久久香蕉国产线看观看av| 91av毛片| av大片在线观看| 中国女人内谢69xxxx视频| 日韩精品有码在线观看| xxxxx69·hd| 国产美女免费观看| 成年女人在线看片| 国产videos久久| 精品一区二区三区香蕉蜜桃| 一级日本不卡的影视| 日韩国产中文字幕| 免费观看四虎精品成人| 色综合888| 亚洲热av色在线播放| 亚洲午夜电影| 国产欧美日韩在线| 欧美r级在线观看| 97精品视频在线| 久草亚洲一区| jizz内谢中国亚洲jizz| 国产精品久久久久一区二区三区厕所 | 久久福利网址导航| 4444免费观看| 激情图片在线观看高清国产| 国产尤物久久久| 国产一区二区三区黄视频 | 24小时成人在线视频| 欧美国产先锋| 久久久久久久电影| 日韩欧美视频一区| 四虎国产精品成人永久免费影视| 午夜成人影视| 精品视频成人| 大香伊人中文字幕精品| 天美av一区二区三区久久| 免费黄网站欧美| 亚洲午夜在线视频| 伊人青青综合网站| 天堂在线免费视频| 超碰在线观看免费版| 久操成人av| 成人免费三级在线| 青春草免费在线视频| 天天操夜夜操免费视频| 久久影院免费观看| av观看成片免费网站| 2020国产在线| 国产精品久久久久久影院8一贰佰 国产精品久久久久久麻豆一区软件 | 水莓100在线视频| 国产日本亚洲| 日韩av网站免费在线| 午夜精品一区二区三区免费视频| www欧美日韩| 国产无遮挡又黄又爽免费软件 | 亚州欧美在线| 久久久天天操| 精品久久久久久久久久久久久| 美日韩精品视频免费看| 天天插天天狠天天透| 日韩专区视频网站| 蜜桃视频免费观看一区| 色88888久久久久久影院野外| 国外视频精品毛片| 亚洲一区二区三区成人| 最新国产一区二区| 国产福利91精品| 欧美一区午夜精品| 国产一级影视| 欧美性猛片xxxxx免费中国 | 国产欧美精品久久| 亚洲第一狼人社区| 欧美激情一级欧美精品| 夜色福利资源站www国产在线视频| 色妞ww精品视频7777| 国产伦精品一区二区三区免费 | av老司机免费在线| 在线欧美日韩| 午夜电影网一区| 97久久精品人人澡人人爽缅北| 精品推荐蜜桃传媒| 精品国产精品国产偷麻豆| 国产亚洲一区二区在线观看| 一色桃子一区二区| 国产日本视频| 亚洲精选av| 成人一区二区视频| 亚洲国产成人一区| 先锋av资源色| 成人在线精品| 成人永久aaa| 日韩精品在线免费观看视频| eeuss性xxxxxx电影| 91精品网站在线观看| 国产福利一区在线| 亚洲国模精品一区| eeuss鲁片一区| av自拍一区| 91偷拍与自偷拍精品| 亚洲欧洲日产国码av系列天堂| 狠狠干夜夜操| 久久影院一区| 青青草视频一区| 欧洲精品一区二区| 另类专区欧美| 色网在线免费观看| 日本美女一区二区| 91精品国产麻豆| 黑人巨大xxx| 欧洲美女精品免费观看视频| 国产中文字幕精品| 亚洲国产97在线精品一区| av小次郎收藏| 91亚洲无吗| 久久精品视频在线免费观看| 日韩一区二区三区xxxx| 免费一级在线观看| 国产精品久久久久久久| 午夜视频在线观看一区二区三区| 久久久成人影院| 成人影院在线视频| 日本va欧美va瓶| 欧美xfplay| 人人做人人爽| 日韩欧美四区| 亚洲三级理论片| 欧美性资源免费| 丁香高清在线观看完整电影视频 | 91蜜桃网址入口| 色伦专区97中文字幕| 日韩a级作爱片一二三区免费观看| 久久精品不卡| 欧美性极品xxxx做受| 在线看黄色网| 欧美精品三级在线| 国产日韩欧美一区二区三区综合| 久久久精品一区二区| 香蕉视频在线看| 国产精品亚洲综合色区韩国| 欧美一区二区成人6969| 成人拍拍拍在线观看| 亚洲美女15p| 一级女性全黄久久生活片免费| 亚洲欧美天堂| 欧美高清免费| 国产夜色精品一区二区av| 97国产在线视频| av在线最新| 国产99久久久国产精品| 色偷偷综合社区| 免费黄色网址在线观看| 久久一区二区三区四区五区 | 国产在线麻豆精品观看| 亚洲无线码在线一区观看| 韩国三级av在线免费观看| 亚洲高清网站| 日韩美女一区二区三区| 欧美日夜夜逼| 欧美激情视频一区二区三区免费| 欧美丰满嫩嫩电影| 午夜影院免费播放| 91精品啪在线观看国产18| 欧美性大战xxxxx久久久| 高清成人av| 日韩精品影视| 欧美揉bbbbb揉bbbbb| 18av.com视频| 最新精品国产| 日韩一区二区精品| 在线一级观看| 亚洲一区二区伦理| 亚洲精品视频久久| 午夜不卡视频| 精品一区二区三区在线播放 | 久久久久久久久久久久久久久久久久av | 日韩黄色影院| 久久精品国产亚洲aⅴ| 少妇久久久久久| 男男gaygays亚洲| 成人国产精品免费观看| 国内精品久久久久| 韩日精品一区| 国产精品久线在线观看| 精品樱空桃一区二区三区| 免费一级欧美在线大片| 一区二区高清免费观看影视大全| 日本dvd播放| 一区二区三区日本久久久| 色天天综合色天天久久| 精产国产伦理一二三区| 欧美日韩精品免费观看视频完整| 欧美成人一区二区三区在线观看 | 久久网站最新地址| 欧美性性性性性ⅹxxbbbb| 超碰成人免费| 欧美色道久久88综合亚洲精品| 91在线精品| 国产一区视频在线观看免费| 亚洲成人黄色在线观看| 午夜在线视频| 国产suv精品一区二区三区 | 色香欲www7777综合网| 中文字幕国产精品一区二区| 国产色在线播放| 中文国产一区| 亚洲成人激情综合网| 黄色网免费观看| 久久国产精品亚洲人一区二区三区| 884aa四虎影成人精品一区| 四虎影视在线观看2413| 日本亚洲最大的色成网站www| 久久艳片www.17c.com| sese综合| 全网国产福利在线播放| 少妇精品久久久一区二区三区| 欧美日韩一级视频| 在线成人一区| 美国十次了思思久久精品导航| 欧美成人高清视频| 欧美v亚洲v综合v国产v仙踪林| 亚洲精品高清在线| www.99re.av| 亚洲看片一区| 久久精品影视伊人网| 欧美精品总汇| 亚洲地区一二三色| 最近2018中文字幕免费在线视频| 葵司免费一区二区三区四区五区| 另类天堂视频在线观看| 欧美大陆国产| 日韩欧美国产激情| 在线香蕉视频| 久久er精品视频| 欧美亚洲一区在线| 蜜桃一区av| 91精品国产综合久久久蜜臀粉嫩| 欧美私人网站| 久久久精品综合| 深夜福利网站| 国内成人在线| 久久亚洲国产精品成人av秋霞| 久久久加勒比| 色婷婷综合久久| 国产视频网站在线| av在线不卡电影| 小视频在线播放| 欧美日本免费| 久久这里只有精品99| 电影中文字幕一区二区| 欧美自拍偷拍一区| 97超碰人人在线| 久久综合国产精品| 黄色大片免费看| 国产日韩欧美三区| 久久免费视频在线观看| 激情小说亚洲色图| 精品奇米国产一区二区三区| 波多野结衣在线高清| 亚洲一区二区三区四区不卡| 一级免费视频| 奇米777欧美一区二区| 中文字幕v亚洲ⅴv天堂| 成人免费黄色| 色呦呦国产精品| 在线免费观看黄色av| 欧美国产日产图区| 欧美福利网站| 国产一区 二区 三区一级| 精品一区二区三区在线成人| 一区二区中文字| 久久99精品久久久久久噜噜| 精品自拍偷拍| 亚洲国产精品成人一区二区| 欧美一级欧美三级| 石原莉奈一区二区三区高清在线| 久久成人免费日本黄色| 精品一区二区三区免费站| 欧美黄色一区| 欧美精品久久久久久久免费观看| 日韩高清影视在线观看| 亚洲精品美女网站| 精品国产黄a∨片高清在线|