(Yicai Global) Oct. 28 -- The further opening-up of China's financial sector is of great significance to the stability and development of the global economy, Maggie Jiang, director of The Chinese Finance Association, told Yicai Global in the run up to the New York-based non-profit organization's annual forum.
China is allowing overseas investors greater access to its capital markets by easing restrictions on foreign equity's ownership in some fields, Jiang said. Increased competition will ensure that Chinese firms and the financial sector will keep improving themselves. It is important to discuss the topic, she added.
New opportunities are forming despite China-US frictions, she said. Trade disagreements are just a short-term turmoil and China will remain connected with the world in a long run, so we must be far-sighted.
The challenges and opportunities that China will face while opening up in the new global political and business environment will be a focus of discussion at the organization's 25th annual gathering in New York on Nov. 10.
Heavyweight speakers on the guest list include Craig Phillips, former advisor to US Treasury Secretary Steven Mnuchin, J.P. Morgan Chief Economist Bruce Kasman, Citi Global Chief Economist Catherine Mann and Credit Suisse Group's Chief Economist James Sweeny.
TCFA aims to promote Chinese economic and financial exchanges with the US and the world. Its forums also serve as a social platform for members to plan their careers.