BEIJING: China will deepen financial reform and improve its regulatory regime to guard against risks to the economy, and further open up to foreign investment, Premier Li Keqiang said on Sunday .
"We need to deepen reform of the financial system, improve financial regulation, and see that all those involved assume their full responsibilities to guard against regional and systemic financial risks," the premier said. The premier also gave greater emphasis to institutional reform compared with last year. This came after state media reports on Tuesday that President Xi Jinping plans for an"intensive" and"wide-ranging" re-organisation of state-owned enterprises and Communist Party entities.Xi, who secured a precedent-breaking third leadership term in October, is planning to resurrect the Central Financial Work Commission, two people briefed on the matter told Reuters.
"We will carry out critical reform tasks to remove institutional barriers that stand in the way of promoting development," the National Development and Reform Commission said.
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