Germany to boost financial sector cooperation with China

Pedro Gonçalves
clock • 2 min read

China and Germany signed a series of agreements to strengthen cooperation in banking and financial sector supervision, as Beijing moves to open up the country's financial markets and Frankfurt positions itself to become EU's finance powerhouse after Brexit. German insurers can now establish wholly-owned insurance operations in China, while Chinese players are welcome to conduct reinsurance business in Germany. The agreements were signed at the end of a two day visit by German Finance Minister Olaf Scholz to Beijing for talks with Vice Premier Liu He, China's top economic official. ...

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