Recently, the announcement of the State Administration of Financial Supervision and Administration to allow foreign investors to take full control of banks has attracted widespread attention. The policy marks another important step in the opening up of China's financial markets, but it also raises concerns about the safety of deposits and whether the opening of financial markets will yield to the United States. This article will discuss this from an objective point of view.
On the issue of deposit security. The state has clear regulations on the bankruptcy of banks, that is, if the amount of savings is less than 500,000 yuan, regardless of whether the bank is bankrupt or not, it will be compulsorily paid. This means that the portion of the personal deposit less than 500,000 is protected. As for the part of the deposit of more than 500,000 yuan, it needs to be judged according to the credit assessment conducted by the individual on the deposit bank in advance, and it is more secure to choose a large and trustworthy bank with a higher reputation. Therefore, whether it is a domestic or foreign-controlled bank, as long as it complies with the relevant laws and regulations, the customer's deposits are protected.
On the issue of opening up the financial market to the outside world. We should avoid over-reading. To internationalize the renminbi, it must be integrated into the global economic system. If the market is not open to the outside world, the renminbi will not be able to go out. Since China's accession to the WTO in 2005, the country's economy has maintained sustained and high-speed development. Therefore, we can't always live behind closed doors, we must have self-confidence, dare to go out, and dare to bring in, the key is to have a solid foundation ourselves. Now that we dare to open up the financial market, I believe that the departments concerned must have made full preparations and plans.
The opening up of banks in which foreign investors can wholly own is an inevitable trend in the development of China's financial market, and it is also an important measure to promote the internationalization of the RMB. With regard to the issue of deposit security and the opening up of the financial market, we should look at it from a positive perspective and believe that the national regulatory authorities will take effective measures to ensure the stability of the financial market and the rights and interests of customers. At the same time, we should also build confidence, dare to be in line with international standards, and actively participate in the construction and development of the global financial system. Only in this way can China's financial market become more prosperous and provide strong support for the sustainable development of the country's economy.
In short, the opening up of wholly foreign-owned banks is an important milestone in the development of China's financial market. We should look at this policy with a positive attitude and believe that the national regulators will take effective measures to ensure the stability of the financial market and the rights and interests of customers. At the same time, we should also build confidence, dare to be in line with international standards, and actively participate in the construction and development of the global financial system. Only in this way can China's financial market become more prosperous and provide strong support for the sustainable development of the country's economy.
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