China to build financial centre in western region by 2025, central bank says
FILE PHOTO: People wearing face masks walk at a shopping area following the coronavirus disease (COVID-19) outbreak, in Chengdu, Sichuan province, China September 8, 2020. REUTERS/Tingshu Wang
BEIJING : China is planning to build a financial centre in the western region by 2025, the central bank said on Friday, in a bid to support economic growth in the Chengdu-Chongqing area.
In an inter-agency document outlining the plans, the People's Bank of China said the government will study and set up a mechanism of capital exchanges with Singapore and Japan, and carry out bilateral investment and financing projects.
(Reporting by Stella Qiu, Cheng Leng and Ryan Woo; Editing by Andrew Heavens)
Source: Reuters
