Li Yunze, from the China Banking and Insurance Regulatory Commission, stated that restrictive measures in the banking and insurance sectors have been largely lifted, and efforts are being made to further open up these areas on a broader, larger scale.

Li Yunze, Director of the China Banking and Insurance Regulatory Commission, stated at the Lujiazui Forum on June 18 that in recent years, we have focused on improving the regulatory standards system, perfecting the national treatment with negative list management model before entry, and the restrictive measures in the banking and insurance sectors have been basically eliminated. In the next step, we will vigorously replicate and promote the experience of institutionalized opening up in free trade zones and free trade ports, support foreign institutions to participate in more financial business trials, benchmark relevant rules in international high-standard economic and trade agreements in the financial sector, explore increasing the level of opening up in a wider range and to a greater extent, continuously optimize the business environment for foreign investment, accelerate the construction of legal systems in the financial sector, effectively maintain the fair order of the financial market, and actively create a transparent, stable, and predictable policy environment. It is important to establish a communication mechanism with foreign institutions on a regular basis, deeply understand their actual needs, and focus on solving difficult points and issues. According to the characteristics and risks of foreign institution business, relevant policies should be optimized in a timely manner, allowing foreign institutions to develop healthily and excel in a more friendly and inclusive environment.