Chinese Vice Premier Liu He shows the way to US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on May 1, 2019. Photo: AFP

As US-China deal nears, Beijing relaxes rules for foreign banks and insurers, in concession to Washington

  • China announced a dozen new measures on Wednesday to further open up its US$44 trillion financial sector to foreign banks and insurers
  • Analysts are viewing the move as a clear concession to US negotiators and a sign that a deal to end the trade war is imminent
Topic |   US-China trade war

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Chinese Vice Premier Liu He shows the way to US Treasury Secretary Steven Mnuchin and US Trade Representative Robert Lighthizer as they proceed to their meeting at the Diaoyutai State Guesthouse in Beijing on May 1, 2019. Photo: AFP
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