Protectionism would compromise China's financial sector - PBOC's Zhou


Reuters

SHANGHAI, June 20 (Reuters) - Healthy financial institutions
are a prerequisite for preventing a financial crisis and further
opening will strengthen the sector, China's central bank
governor Zhou Xiaochuan said on Tuesday at a forum in Shanghai.
    Some vested interests have argued in favor of protecting the
financial sector until domestic players were strong, but
protectionism would only compromise the competitiveness of the
sector, Zhou said.
    The financial services industry had benefited from opening
up, and must continue to do so, he said.


 (Reporting by Andrew Galbraith and Winni Zhou; Writing by John
Ruwitch; Editing by Shri Navaratnam)
 ((john.ruwitch@tr.com; +86 21 6104 1786; Reuters Messaging:
john.ruwitch.thomsonreuters.com@reuters.net; Twitter:
@jruwitch))

Keywords: CHINA ECONOMY/FINANCE (URGENT)



This article appears in: Stocks , World Markets , Politics


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