China is luring more foreign firms to enter its financial markets, amid its ongoing spat with the United States. GXC is up 0.37%, CQQQ is up 1.21%.
- Chinese state media said the country will ease requirements for foreign banks and insurance companies entering the second-biggest economy.
- Regulations on cross-border transactions between parent firms and their subsidiaries will also be improved.
- The country will also enhance its financial risk monitoring framework, with its currency kept stable.
- Imports and exports growth will be kept steady.
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