On March 5, after the opening of the second session of the 13th National Peoples Congress, the ministerial corridor was opened again.
Guo Shuqing, Secretary of the Party Committee of the Central Bank and chairman of the Banking and Insurance Regulatory Commission, was the first minister to enter the ministerial channel. He said that since the 18th National Congress, the reform and opening-up in the financial sector has taken new steps and made great achievements. Last year, a lot of foreign investment and insurance institutions were newly approved, which directly entered the Chinese market. The existing institutions have also expanded their business scope, and will continue to advance this year.
The Sino-US trade negotiations have made substantive breakthroughs in six areas. Among them, the service industry, exchange rate and finance are closely related, and the progress is substantive.
Guo Shuqing said, There is no doubt that we will continue to expand our opening up. China and the United States have reached a complete agreement on opening up the financial sector.
He said that although there are still minor differences, the problem is not big. For the past 40 years of reform and opening up, Chinas finance has been in need of its own development. In the financial sector, China and the United States have had a lot of exchanges and exchanges in the past, and both sides are very familiar with the industry. There have been misunderstandings in the past, which can be completely eliminated.
For example, some US officials, including Trump, accuse China of manipulating the exchange rate to gain a competitive advantage. This is nothing. As you know, we have been maintaining the stability of the RMB exchange rate. As soon as we explain this issue, we will all understand that it is easier to reach a consensus in the next negotiations. We are also very confident that we will implement these agreements.