The People's Bank of China and five other departments: Support the legal cross-border purchase of certain types of overseas financial services and facilitate foreign investors' investment in related remittance in and out
The People's Bank of China and five other departments issued "Opinions," proposing 20 policy measures to support foreign financial institutions and Chinese financial institutions in providing similar new financial services, simplifying application processes, promoting cross-border purchases of overseas financial services, facilitating the fund transfers of foreign investors, improving arrangements for the cross-border flow of financial data, and strengthening financial regulation
The "Opinions" propose 20 policy measures in six areas: allowing foreign financial institutions to carry out new financial services similar to those of domestic financial institutions, making decisions on applications for related services within 120 days, supporting the lawful cross-border purchase of certain types of overseas financial services, facilitating foreign investors' investment in related transfers in and out, improving arrangements for the cross-border flow of financial data, and comprehensively strengthening financial regulation.
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