China central bank unveils plan to build Shanghai into a financial centre

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China central bank unveils plan to build Shanghai into a financial centre

China central bank unveils plan to build Shanghai into a financial centre 1

Headquarters of the People’s Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018. REUTERS/Jason Lee/Files

BEIJING (Reuters) – China’s central bank issued a plan on Thursday on building Shanghai into an international financial centre, and reiterated that it will step up the opening of its financial services sector.

China will expand the scale of asset-backed securitisation in Shanghai and widen the channels for overseas yuan liquidity to flow back to the country, the People’s Bank of China (PBOC) said in a statement on its website.

The PBOC also said China will set up an investment and financing centre in Shanghai for the nation’s signature Belt and Road initiative.

Reporting by Beijing Monitoring Desk; Editing by Richard Borsuk

Our Standards:The Thomson Reuters Trust Principles.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2019-02-02 23:58:11

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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