BEIJING, Nov. 22 (Xinhua) -- China's financial market opening-up is wider than ever, said Zhu Min, former deputy managing director of the International Monetary Fund.
Zhu told Xinhua at the ongoing New Economy Forum held in Beijing that 2020 will continue to be a "big year" for the inflow of foreign capital into China.
He said the capital inflow will optimize China's financial market structure and stabilize the global financial market.
Zhu, now chair of the National Institute of Financial Research at Tsinghua University in Beijing, said financial technology has bright prospects in China and China has led the world in this area.
From online banks such as Ant Financial to state-owned banks including China Construction Bank, financial institutions in China are actively embracing fintech, which will make a big difference, he said.
Meanwhile, by upgrading the credit system through big data, artificial intelligence and other means, the financing of small and medium enterprises will be more effective, he said.
