January 29 2024

Chinese vice-president emphasizes commitment to financial opening-up

Vice-President Han Zheng reiterated that China is committed to advancing high-level opening-up in the financial sector, saying that the nation will focus on institutional opening-up in terms of rules, regulations, management and standards to expand financial openness.

Han made the remarks during a meeting in Beijing with HSBC Group Chairman Mark Tucker. His remarks came as China is promoting reform and opening-up in the financial sector to boost its high-quality growth.

Noting that the nation is advancing the Chinese path to modernization on all fronts through high-quality development, Han said that China welcomes HSBC Group and other international financial institutions to continue to actively participate in China's financial reform and opening-up and achieve better development in the country.

The Chinese central government fully supports the Hong Kong Special Administrative Region in promoting the building of an international financial center, Han said. He expressed his hope that HSBC Group will leverage its strengths to deepen mutually beneficial cooperation with China and make new contributions to consolidating and upgrading Hong Kong's status as an international financial center.

Tucker spoke highly of China's achievements in economic and social development, saying that HSBC Group has firm confidence in investing in the country.

HSBC Group will actively participate in China's high-quality development and high-level opening-up, support Hong Kong's efforts in the building of an international financial center, and promote mutually beneficial cooperation between the United Kingdom and China, he said.