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China to further open its financial market, deepen reforms


06-23-2016 01:32 BJT

The People's Bank of China, the country's central bank, released its 2015 annual report on Wednesday. According to the report, China is going to further open up its financial market in the future. It said that it will gradually take Qualified Domestic Individual Investor trials and launch Chinese Depository Receipt, which can allow Chinese investors to invest in overseas listed companies.

Meanwhile, the PBOC mentioned that in 2016 China will continue to take prudent monetary policy with suitable micro-adjustments. The report also pointed out that Chinese economy still facing downward pressures, while consumer prices are unstable as well.

In this year, China will continue to deepen its financial reforms, support the healthy growth of offshore yuan markets and push forward the renminbi capital account convertibility.

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