Three departments: Steadily improve the level of financial industry opening up

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Gold Finance reports that on June 22, the Ministry of Commerce, the National Development and Reform Commission, and the Ministry of Finance issued and printed the Action Plan for Using Foreign Investment to Stabilize, Strengthen, and Optimize (the “Action Plan”), which mentions the need to steadily improve the level of opening-up in the financial sector. On the premise of improving regulatory coordination and risk prevention and control, it supports more foreign-funded institutions in using risk management tools, including government bond futures, to strengthen financial risk management. It supports foreign-funded institutions to carry out fund investment advisory services in accordance with the law. It optimizes cross-border business management and provides key foreign-invested enterprises with facilitation quota for cross-border financing. It guides domestic banks to launch an international settlement document service for large foreign-invested enterprises featuring a “brokered/prepared by agent” order-document arrangement. It also optimizes the pre-communication services for exchange listing applications, supporting eligible key foreign-invested enterprises in domestic listing and fundraising.
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