Xu Zhibin, deputy administrator of the State Administration of Monetary Affairs, attends a subforum throughout the annual conference of Boao Forum for Asia 2024, March 26, 2024.
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China will ease capital flows in and in a foreign country and promote financial market deregulation, a senior foreign exchange regulator said on Friday, as Beijing seeks to woo foreign investors amid heightened geopolitical tensions.
“We will continuously push for the two-way opening of capital markets and strengthen the links between domestic and overseas financial markets,” Xu Zhibin, deputy head of the State Administration of Foreign Exchange (SAFE), said on the annual Boao Forum for Asia.
“We will expand the diversity and scope of investments to attract more investors to invest in China’s financial markets.”
Xu also promised to support high-quality Chinese corporations to sell stocks and bonds in overseas markets and encourage sovereign wealth funds and other institutional investors to invest abroad “in an orderly manner.”
Over the past few years, many global investors have left or departed China amid concerns about China’s economic health, policies and Sino-U.S. tensions.
Meanwhile, the variety of overseas Chinese corporations listed on stock exchanges has declined thanks to tighter controls on national security and data security by each Chinese and Western governments.
