Foreign financial firms gear up for a new era

Leading policymakers pledge to further relax overseas investment restrictions to counter the decline in capital inflows while guarding against systemic risks

China is accelerating plans to open up the financial industry with leading policymakers pledging to relax foreign investment rules to counter the decline of capital inflows.

Industry insiders had expressed concern that the government's focus on containing systemic risks and reducing capital outflows would slow the pace of reforms.