PBOC plan promotes financial reform in key fields

China's central bank has issued a plan to promote financial reforms in some key regions, to support Shanghai's development into an international financial center and foster the opening up strategy, according to senior officials.

The reforms will focus on attracting more foreign investors and funds to China's financial sector, a measure to stabilize domestic growth amid external headwinds, said experts.

"The People's Bank of China, the central bank, will use various tools and deeply explore effective methods to reduce the financing costs of private, small companies and technology startups, to push forward regional financial reforms," Chen Yulu, deputy governor of the central bank, said at a news conference on Monday.