Finance standards to be unified

Central bank governor says move will improve domestic, foreign capital markets

China will upgrade its financial opening-up tasks for this year by unifying regulatory rules for domestic and foreign players in the financial sector, and improve connections between onshore and offshore capital markets, according to Yi Gang, governor of the People's Bank of China, on Sunday.

The standards required for foreign institutions, in terms of share proportion, company form, business scale, shareholder qualification and number of licenses, will be the same as those for Chinese companies, he said at the China Development Forum 2019 in Beijing.