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China will roll out a host of measures to expedite two-way financial opening-up, with Shanghai as the key pilot, top financial regulators said on Thursday.
China will prolong policies on inclusive loan repayment extension and the credit loan support program for smaller businesses, the State Council executive meeting chaired by Premier Li Keqiang decided on Monday.
China's banking and insurance regulator urged relevant financial institutions to take multiple measures to dispose of and mitigate the risk of banks' nonperforming assets, in addition to classifying bank loans strictly according to their inherent risks as "pass, special-mention, substandard, doubtful and loss" to truly reflect their risk level, Xiao Yuanqi, chief risk officer and spokesperson of the China Banking and Insurance Regulatory Commission, said at a news conference on Oct 21.
China's automotive market saw its first dip last year since 1990, and the China Association of Automobile Manufacturers expects sales this year to fall by around 5 percent from 2018. That means the country's automotive insurance businesses will also probably see a slowdown in growth.
China will not surrender to external pressure, Vice-Finance Minister Zhu Guangyao reiterated earlier this month.
来源：资阳报