China said it would continue to open up its financial markets and encourage foreign investment amid reports the Trump administration is considering restrictions on fund flows to China. “We will take further steps to promote high quality two-way financial opening, encourage foreign financial institutions and funds to invest in the domestic financial market, to boost the competitiveness and dynamism of the domestic financial system," according to a summary from the eighth meeting of the Financial Stability and Development Committee. The world’s two largest economies are heading into another round of high-level trade talks following China’s week-long national holidays starting Oct. 1. While various Chinese media republished the Bloomberg story and Treasury Department’s statement, they were not immediately seen responding to the deliberations by the Trump administration. China has been accelerating financial opening in the past two years, promising to lift foreign ownership caps for securities, mutual fund companies and life insurers by next year.

Source: Mint September 29, 2019 13:30 UTC