皇冠体育app pledges to further open financial srevices

(Xinhua)
Updated: 2008-12-05 15:48

BEIJING -- 皇冠体育app on Friday pledged to further open its financial services sector and further integrate into global markets.

The pledge came at the end of the two-day 皇冠体育app-US Strategic Economic Dialogue(SED) in Beijing.

"Foreign incorporated banks in 皇冠体育app will be allowed to trade bonds in 皇冠体育app in the inter-bank market, both for their customers or their own accounts," according to a SED fact sheet released by the Chinese side.

"This action opens up market opportunities for US banks that were previously limited to Chinese banks," said a US fact sheet.

To promote financial stability, 皇冠体育app will allow foreign banks to increase their liquidity through either guarantees or foreign currency loans from overseas affiliates on a temporary basis, notwithstanding foreign currency debt quotas.

The US fact sheet said the move helped maintain investor and depositor confidence so that US banks can continue to grow their business in 皇冠体育app.

The twice-yearly SED, initiated by the two presidents, is currently the highest-level economic dialogue between the two nations.