China needs to further open its capital markets and financial industry to avoid being globally isolated，a senior foreign exchange regulator said on Saturday.
China will conform to international rules to promote further integration of its capital markets, and continue interest rate and exchange rate reforms in a steady and prudent manner, Lu Lei, deputy director of the State Administration of Foreign Exchange , said during an industry forum in Shanghai.
Beijing is accelerating financial market deregulation as intensifying Sino-U.S tensions raise concerns about the risks that China decouples economically and technologically with the rest of the world. The Qualified Foreign Limited Partner, or QFLP, allows qualified foreign institutions to make private equity investments in China while the Qualified Domestic Limited Partnership, or QDLP, allows foreign fund managers with awarded quotas to raise money in China for overseas investments.
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