China would like to align the Belt and Road Initiative with Indonesia's development strategies and strengthen ties in infrastructure and other key areas, Premier Li Keqiang said on Friday.The premier made the stance in a meeting with the visiting Indonesian Foreign Minister Retno Marsudi, who also met with Foreign Minister Wang Yi on Friday afternoon.China and Indonesia, as two major developing countries, share wide-ranging common interests in safeguarding regional peace and promoting shared development, Li said at the meeting in Beijing.The two economies are highly complementary and have enormous potential for economic and trade cooperation, he said.Li said that China is ready to work with the Association of Southeast Asian Nations, including Indonesia, to bring China-ASEAN relations to a new stage and contribute to regional development and prosperity.Retno said her country has made leaps in progress in its relations with China. Indonesia will strengthen high-level exchanges, deepen people-to-people ties and accelerate the development of the Jakarta-Bandung high-speed railway.Indonesia, with the world's fourth-largest population, was one of the first countries to establish diplomatic relations with China, in 1950. It also was one of founding members of the regional ASEAN bloc and has been one of China's important trade partners in Southeast Asia.Trade between the two countries hit $45.7 billion in 2016, a year-on-year increase of 7.7 percent. Indonesia's exports to China reached $15 billion that year, up by 13 percent year-on-year.Last year, China imported non-petroleum products valued at $21.3 billion from Indonesia, an increase of 41 percent, making the world's second-largest economy Indonesia's largest [email protected]? christian silicone wristbandsathletic silicone wristbandsyellow silicone braceletschild size silicone wristbandswhite rubber bracelet meaning
BEIJING -- China's banking regulator has cut red tape for foreign banks.The China Banking Regulatory Commission has revised rules for foreign banks, scrapping approval procedures for four items including overseas wealth management products and portfolio investment funds. Banks only need to report their services to authorities rather than obtaining approval in advance.Procedures were also simplified for foreign lenders to set up new branches, appoint executives and issue bonds.The new policies became effective on Feb 13.The revision also clarified procedures and application materials for foreign-funded banks to invest in domestic banking institutions.The document provides clear legal ground for foreign-funded banks to make equity investment, the commission said in a statement.China has been gradually opening up its financial sector, with authorities pledging to ease caps on foreign ownership in Chinese banks and financial asset management companies.We will briskly push forward revisions in laws and regulations to propel the opening up of banking sector, the commission said.The commission said it would continue to support foreign banks to enter the Chinese market, promising a fair and transparent policy environment.The banking regulator said earlier it would broaden the business scope of foreign banks, including measures to ease restrictions on renminbi retail banking.
