China central bank governor Yi Gang announced on Wednesday a slew of detailed measures to further open up the financial market, including erasing the capital cap on foreign-owned banks and wealth management firms operating in China, as well as easing equity restrictions on foreign securities and fund companies within this year.[Special coverage]
China expects most measures to open financial market will be in place by June 30, Yi added.
Yi said the country will not resort to yuan devaluation to counter trade tensions.
