Publication
China releases policies to further open up and liberalise the financial sector in designated pilot free trade zones
On 16 January 2025, the People’s Bank of China and four other major regulators in China jointly issued an opinion (the Opinion) which outlines 20 new policies to further expand the opening-up of the financial sector in China’s designated pilot free trade zones and areas in Shanghai, Guangdong province (including Hengqin, Qianhai and Guangzhou Nansha), Tianjin, Fujian province, Beijing, Hainan province and others (the Pilot Areas). Whilst there are still considerable uncertainties about the details and implementation timeframe of these announced policies, the Opinion accelerates China’s opening up and liberalisation in the financial sector with the expectation of tangible business opportunities for foreign financial service providers with interests in the Chinese financial services market.