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China central bank says will improve financial supervision, fend off risks

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China's central bank will improve the country's financial supervisory framework and further open up the financial market to foreign firms during the 13th Five-Year Plan, vice governor Chen Yulu was quoted as saying in a central bank notice.

[BEIJING] China's central bank will improve the country's financial supervisory framework and further open up the financial market to foreign firms during the 13th Five-Year Plan, vice governor Chen Yulu was quoted as saying in a central bank notice.

The central bank will increase the efficiency of financial services to the real economy in order to support China's economic transition, and will fend off financial risks, Mr Chen said in the notice posted on the People's Bank of China website on Friday.

REUTERS