China’s central government has flagged shifts to levels of state-ownership of the country’s financial institutions.
The Ministry of Finance (MOF) said on 9 March via its official website that it would make “rational adjustments to the share of state-owned financial capital in sectors including banking, securities and insurance.”
MOF will also “drive the concentration of state-owned financial capital into important sectors and key areas, key infrastructure and key financial institutions, and raise the efficiency of capital allocation.”
MOF made the remarks in response to questions from journalists concerning the “State-owned Financial Capital Contributor Professional Duty Provisional Regulations” (国有金融资本出资人职责暂行规定).
MOF said that it would drive “positive use of state-owned financial capital investment and operating companies,” as well as “effectively balance dividend distribution with capital supplementation needs.”
MOF Pushes for Foreign Banks to Underwrite Local Government Bonds
Foreign Invested Enterprises Will Have Access to Full Financial Operating Licenses after Three Years: MOF
Mixed-business Model of Chinese Finance is Heightening Risk: Ex-MOF Head Lou Jiwei