On March 26, 2024, Xu Zhibin, deputy director of the State Administration of Foreign Exchange, attended the Boao Forum for Asia 2024 Annual Conference sub-forum.
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China will make it easier for capital to flow in and out of the country and promote financial market deregulation as Beijing seeks to attract foreign investors amid rising geopolitical tensions, a senior foreign exchange regulator said on Friday.
“We will steadily promote the two-way opening of the capital market and strengthen the interconnection of domestic and overseas financial markets,” Xu Zhibin, deputy director of the State Administration of Foreign Exchange, said at the annual Boao Forum for Asia.
“We will expand investment varieties and scope to attract more investors to invest in China’s financial market.”
Xu also pledged to support high-quality Chinese companies in issuing stocks and bonds in overseas markets and encourage sovereign wealth funds and other institutional investors to make “orderly” overseas investments.
Over the past few years, many global investors have left China or diversified away from China due to concerns about China’s economic health, policy direction and tensions between China and the United States.
At the same time, the number of overseas listings of Chinese companies has dropped sharply as Chinese and Western governments have tightened scrutiny of national and data security.
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