2018 marks the beginning of a new era that China further opens up its financial service sector – another good time for foreign financial institutions to seize the country’s growth opportunity.
2017 is a year of significance for China, as the 19th CPC National Congress laid out the country’s development blueprint for the next decades. The 19th Party Congress Report, as well as recent Government Work Report, has committed to further open up China’s financial service industry by both expanding market access and lifting foreign investment restrictions:
These are only a fraction of upcoming policies. By the end of 2017, total assets of China’s financial services industry reached USD 44 Trillion. As China committed to further opening up, we expect foreign financial institutions’ (FIs) market share to continue to expand in the future – 2018 is the another good timing for foreign FIs to seize China’s growth opportunity.