China aims to better support firms going global

China will better coordinate financial openness and security and pay equal attention to attracting foreign investors and promoting the "going global" of Chinese firms, while steadily advancing institutional opening-up, the National Financial Regulatory Administration said on Saturday in an online statement.

The country will support foreign institutions with distinctive features and expertise in fields including wealth management, elderly care, healthcare and non-performing asset disposal to come to China for business development, the NFRA meeting said, adding the country will leverage on its super large market to attract high-quality financial resources from around the world to gather.

Jose Vinals, group chairman of Standard Chartered, said the bank will continue investing in China and expects to continue making very good progress.

"We can see a lot of opportunities in China and this is why we are investing," he said during a previous interview with China Daily.

Such opportunities arose from the reorganization of global supply chains, the internationalization of the renminbi, the development of sustainable finance and wealth management in China, among other factors, he said.

Standard Chartered has announced it will invest $300 million in China by the end of 2024 to upgrade its capabilities of providing financial services to clients in areas like wealth management, retail banking, corporate commercial and institutional banking, sustainability and risk management.

In addition, the bank sees tremendous opportunities from the development of the Guangdong-Hong Kong-Macao Greater Bay Area.