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China Minmetals and four other State-owned companies have joined hands to set up a new international trading center for minerals in the Caofedian Wetlands in Hebei province.

China announced new measures over the weekend to further open its financial sector, with the liberalization extended to several new business areas. Foreign asset managers will be allowed to take controlling stakes in wealth management joint ventures with the subsidiaries of Chinese commercial banks and insurers. Foreign companies are also allowed to own stakes in pension fund managers and currency brokers. The latest policies also involved deregulation in bond underwriting and credit rating businesses.

China Insurance Regulatory Commission (CIRC) has issued the approval for China Taiping Insurance Group to launch the technology insurer, according to a CIRC statement.

China and Japan will share information in audit supervision based on principles such as reciprocity, according to documents exchanged at the meeting.

China and ASEAN countries are leading the post-COVID economic recovery, a main reason governments and financial institutions from these countries are hoping to collaborate more in this economically challenging period even as the pandemic poses challenges to cross-border capital flows in Asia.