China will open up its financial industry and make its business environment more friendly for foreign businesses, the country’s central bank governor told a number of top Western companies on Monday, renewing Beijing’s efforts to lure overseas capital as economic challenges mount.
Pan Gongsheng, governor of the People’s Bank of China and head of the country’s foreign exchange regulator, chaired a symposium with representatives from foreign companies, including JP Morgan, Tesla , HSBC , Deutsche Bank , BNP Paribas, Japan’s MFUG Bank, German chemical producer BASF, commodities trader Trafigura and Schneider Electric, according to a statement posted on the websites of the PBOC and the State Administration of Foreign Exchange .
9 billion in the April to June months, down 87% from a year earlier, according to data published by SAFE last month. That was the lowest amount in any quarter since records began in 1998. On Tuesday, a business climate survey released by the American Chamber of Commerce in Shanghai showed that 40% of respondents were redirecting or planning to redirect investment originally planned for China to other destinations, mainly in Southeast Asia.
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