China-US Talks: Opening-up & cooperation in financial sector

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Europe

01:09

Meanwhile, participants at the Tsinghua PBCSF Global Financial Forum in Beijing this weekend also talked about opening up China's financial sector and China-US financial cooperation. Let's hear what some of them had to say.

HUANG YIPING, PROFESSOR PEKING UNIVERSITY "The opening-up of the financial service industry and capital flow are two different things. The opening-up of the financial service industry is to introduce more foreign direct investment. I think we should be bolder on that front. However, we should be cautious in opening up capital flows, especially short term-speculative capital flows."

QI BIN, VICE GM CHINA INVESTMENT CORP. "We sincerely hope that more advanced financial institutions to come to China, and succeed in China. We need competitors with real excellency. They will contribute to China's financial system, and capital markets, to serve the real economy, and push for China's economic restructuring."

SHEN JIANGUANG, CHIEF ECONOMIST MIZUHO SECURITIES ASIA LTD. "A trade war between China and the US would be mutually destructive. China has rapid and stable growth momentum right now. Avoiding a trade war with the US would be the most important foundation for preventing financial risks."