英语学习(0004)

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<h3>头条英文播报|foreign banks, insurers given broader access</h3><h3>来源：中国日报</h3><h3>foreign banks, insurers given broader access</h3><h3>the further opening-up of china and the establishment of a fair market environment will greatly help to promote full competition in the chinese banking and insurance sectors. [photo/vcg]</h3><h3>greater opening-up in financial sector expected to stimulate vitality of domestic institutions</h3><h3>china is further opening up its financial sectors to foreign investors by loosening regulatory requirements and lifting business restrictions on foreign banks and insurance companies.</h3><h3>the state council announced the revision of regulations on foreign banks and insurers on tuesday. china relaxed market access rules for foreign insurance companies, such as removing requirements that companies that apply to establish foreign-invested insurers


in china have a track record in the business of over 30 years and have a representative office in the country longer than two years.</h3><h3>the government also liberalized requirements on stakeholders that plan to set up foreign-invested banks in china and requirements on foreign banks that plan branches in the country.</h3><h3>other revisions include allowing foreign banks to simultaneously set up


branches as well as wholly foreign-owned banks — or branches and sino-foreign joint venture banks — in china. also allowed is expanding the business scope of foreign banks by lowering their branches