Foreign trade
China issues guideline to improve financial services
Xinhua, Beijing
China unveiled a guideline yesterday to further guide banking and insurance institutions in utilising financial services to stabilise foreign trade. The guideline was jointly released by the China Banking and Insurance Regulatory Commission, the Ministry of Commerce and the State Administration of Foreign Exchange. Greater efforts will be made to further regulate the foreign trade-related business of the banking and insurance sectors, the guideline said. The guideline listed 29 specific requirements, including deepening reform, diversifying product types and strengthening background checks.
