Promoting China's financial market reform and innovation with opening-up policies

摘要

Market-oriented development philosophy and international financial market practices are key drivers for the prosperity of China's financial market. Now China's financial market has evolvedto a vast market that global investors cannot ignore.Compared to international developed markets, openness of China's financial market is lack of coordination among sub-markets as well as absence of a harmonized means of opening-up. In foreseeable future, promoting development of the China's financial market with opening-up policies will be a necessity for strengthening China's competitiveness in the international market. China must take initiatives, adopt an inclusive and cooperative attitude to financialaffairs, and adjust its self-focused strategy of opening up. By adapting to international conventions and the best practices, China will gradually play acen-tral role in the international financial architecture, leading to an improved pattern of domestic reform and opening-up.