Financial sector to take global role

Capital market expected to be more active, says CSRC vice-chairman

China's financial sector will play an important role in changing the world economy in the coming decades, when financial resources could be allocated worldwide more efficiently through supportive opening-up measures, a senior official of the nation's securities watchdog said on Tuesday in Boao, Hainan province.

China still needs huge capital investment in the future, although it already has the world's largest stockpile of savings, and it requires a more open financial system to allocate financial resources globally, Fang Xinghai, vice-chairman of the China Securities Regulatory Commission, said at the Boao Forum for Asia 2018.