Wang Tao is the head of Asia economics and chief China economist at UBS Investment Bank.
As a key part of China’s “dual circulation” strategy,
we are convinced that China will further push forward opening-up in the new five-year plan rather than seeking seclusion.
China has accelerated opening-up in recent years,
including rolling out a new foreign investment law to level the playing field for foreign investors with the “negative list” scheme,
removing foreign ownership caps on financial institutions,
abolishing quota restrictions of QFII and RQFII, and implementation of stock and bond connect schemes.
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