DBS CEO upbeat on foreign bank access expansion

China has shown a strong desire to further open up and the intent of policy improvement is expected to follow through in execution, said Piyush Gupta, CEO of DBS Group.

"The most important thing about President Xi Jinping's speech (in Boao this month) is the statement of intent. It is consistent with his speech in Davos last year, but it indicates a strong desire to continue to open on several fronts," said Gupta on the sidelines of the DBS Asian Insights Conference China 2018 in Shanghai on Thursday.

He was impressed with the quick follow-up from China's central bank Governor Yi Gang, who, in his speech, provided specific details for the financial services sector.