Opportunities and challenges to foreign institutions as Chinese financial industry opens further
In April 2018, China announced to further open up its financial industry to foreign institutions. This article outlines the opportunities with the policy change and challenges foreign institutions need to beware, considering that the market of China is rapidly reshaped by reforms and is transforming fast.
Announced by the President Xi Jinping, China seeks to further open its financial industry with a number of significant measures. Some of the notable policy changes include the relaxation of foreign share ownership restriction in the banking, securities and insurance sectors. Some foreign financial institutions have thus deepened their presence in China.
In the meantime, opportunities more than often arise with challenges. Deloitte believes that domestic and foreign financial institutions need to solve two key issues to secure success amid the increasingly fierce competition: effective compliance to enter the market and the right strategy for local market.
Read the full article for Deloitte's perspectives on the imminent opportunities brought about by the Chinese financial opening and we welcome the opportunity to discuss our insights with you in greater detail.