ct credit rating business with all types of bonds in China’s interbank and exchange bond markets, s
aid the State Council’s Office of Financial Stability and Development Committee.上海419论坛女神会所
Foreign financial institutions will be allowed to set up or hold stakes
上海419论坛in pension fund management companies, while foreign ownership caps in secur
ities firms, fund management firms and futures companies will be lifted by 2020, a year ahead of schedule, the office said.上海419论坛
The committee underlined the significance of financial reforms and stability and pledged to ma
intain a prudent monetary policy with proper countercyclical adjustments to keep liquidity reasonably ample.上海419论坛女神会所
Dong Dengxin, director of Wuhan University of Science and Tech
nology’s Finance and Securities Institute, said the measures are “unprecedented” in the h上海419论坛
istory of China’s financial sector opening-up and will help expand foreign participation in the domestic sector.
上海419论坛女神会所”This could go a long way toward enhancing the financial sector’s ability to serve the
real economy, as domestic financial institutions will strive to sharpen service quality in the face of inte
nsified competition and learn from advanced practices of foreign peers,” Dong said.上海419论坛
Besides furthering opening-up, “there is additional policy room” on monetary and fiscal fro
上海419论坛nts for China to tackle potential external or internal shocks, said Zhu Haibin, chief China economist at JPMorgan.
The GDP growth rate slowed to 6.2 percent in the second quarter
from 6.4 percent in the first, according to the National Bureau of Statistics.上海419论坛女神会所
Looking into the second half, economists expected steady growth in consumption and high-tech sectors, but cautioned that down
side risks may arise from lingering trade tensions and a softening global economy. Domestically, signs of a lack上海419论坛
luster manufacturing sector and weakening property investment should also be noted, they said.
上海419论坛女神会所To tackle downside pressure, Zhu expected domestic liquidity to re
main accommodative, with various options to prompt key interest rates lower.上海419论坛女神会所
The likelihood of benchmark deposit and lending rate cuts, however, is “very low”, Zhu added