STORY: Global institutions jump on chance to boost presence amid China's financial opening-up
SHOOTING TIME: File
DATELINE: Nov. 22, 2023
LENGTH: 00:02:27
LOCATION: Beijing
CATEGORY: ECONOMY

SHOTLIST:
1. various of street views in China 
2. SOUNDBITE 1 (English): LI BING, Head of Bloomberg Asia Pacific
3. SOUNDBITE 2 (English): MILAN NEDELJKOVIC, Member of the board of management, BMW AG
4. SOUNDBITE 3 (English): MICHAEL KIRSCH, President and CEO of Porsche China

STORYLINE:

China has been stepping up efforts to promote a high level of financial opening-up, implementing concrete measures such as allowing global investors to invest in China's capital market through more channels, and scrapping securities, futures and fund ownership caps for foreign institutions.
   
Following these measures, many global financial institutions have expanded their footprints in China, showing faith in the country's continued financial opening-up.

On Monday, a meeting of the country's Central Financial Commission highlighted work to steadily promote the opening-up of the financial sector, as well as its development and growth.

SOUNDBITE 1 (English): LI BING, Head of Bloomberg Asia Pacific
"I can say quite confidently, global investors are still very much interested in the Chinese market.
The size and depth of the market, and the fact that the Chinese market is still one that's actively evolving, so it's a very large market becoming easier and easier to access.
From all those aspects, it is a very, very significant market, a large market, an evolving market, and a mature market. So all those elements added together provide a lot of potential. So with that, we're also very optimistic."

Data from the Ministry of Commerce showed a total of 41,947 new foreign-invested companies were established in China during the first 10 months of this year.

The figure marked a 32.1 percent increase from the same period a year earlier.

SOUNDBITE 2 (English): MILAN NEDELJKOVIC, Member of the board of management, BMW AG
"The Chinese market is very strong. It's dynamic and resilient. Right now it's growing, and there is a significant opportunity for investments of foreign companies, which gives a win-win situation for both China and the investors."

SOUNDBITE 3 (English): MICHAEL KIRSCH, President and CEO of Porsche China
"China for me is a market which has many more opportunities than risk. For Porsche, China had become the biggest market in the world since 2015, and it remains one of the main pillars for Porsche in terms of business. It becomes a main pillar in terms of innovation because we have enlarged our footprint of research and development here to learn in China, to create things in China, for China, but maybe also to create things in China for the world of Porsche."

Xinhua News Agency correspondents reporting from Beijing.
(XHTV)