|16 January, 2020

Chinese financial institutions can cope with foreign competition - c.bank

The bank will strengthen financial supervision and prevent risks in the process of financial opening

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018.

Headquarters of the People's Bank of China (PBOC), the central bank, is pictured in Beijing, China September 28, 2018.

REUTERS/Jason Lee

BEIJING - Chinese financial institutions are completely capable of coping with foreign competition as the sector is freed up, the central bank said on Thursday, after China and the United States signed a initial deal on trade.

The bank will strengthen financial supervision and prevent risks in the process of financial opening, it added in a statement.

(Reporting by Beijing Newsroom; Editing by Clarence Fernandez) ((judy.hua@thomsonreuters.com; 8610-6627 1297; Reuters Messaging: judy.hua.thomsonreuters.com@reuters.net))

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