Recently, the General Office of the State Council issued the Action Plan for Solidly Promoting High Level Opening up to the Outside World and Strengthening Attraction and Utilization of Foreign Investment (hereinafter referred to as the Action Plan). The Action Plan proposes to "expand the access of foreign financial institutions in the banking and insurance field", "expand the scope of foreign financial institutions participating in the domestic bond market business", and "deepen the implementation of qualified overseas limited partner domestic investment pilot projects". Several experts stated in an interview with People's Daily Online that the Action Plan will further expand market access, promote the deepening of high-level financial opening up to the outside world, help improve resource allocation efficiency, increase the diversification and diversity of financial products and services, and enhance the ability of financial services to serve the real economy; It helps to improve the competitive environment of China's financial industry, further strengthen the construction of financial rule of law, cultivate and form new competitive advantages, and promote the transformation of growth momentum and development mode of an open economy. "The Action Plan further deepens the financial openness in key areas, continuously expands the business qualifications and space of foreign-funded institutions in multiple fields and emerging business scopes, and provides more opportunities for foreign-funded institutions to participate." Zeng Gang, director of the Shanghai Finance and Development Laboratory, stated that at the institutional level, the main focus is to further promote openness in business areas such as bank card clearing, and the degree of financial openness in related fields is expected to be further enhanced in the future. At the market level, allowing foreign financial institutions to participate more in the core business of bond underwriting and other pilot businesses can help them expand their business scope in the financial market. Dong Ximiao, Chief Researcher of Zhaolian, believes that in November 2023, the People's Bank of China issued a bank card clearing business license to Wanshi Wanglian Company, indicating that the opening up of the financial industry to the outside world has entered a new stage of financial infrastructure opening up. The Action Plan proposes to support qualified foreign institutions in carrying out bank card clearing business in accordance with the law, which will be conducive to attracting overseas entities to deeply participate in the opening up of China's financial industry to the outside world and creating a more fair competition market environment. At the same time, promote domestic institutions to better participate in international competition, achieve optimized allocation of market resources on a larger scale, and increase sustainable development momentum. "Overall, high-level opening up of finance to the outside world can help increase the supply of financial services in China, enrich the types of financial institutions to strengthen financial market competition, improve financial market activity, and enhance the quality and level of financial innovation. It can provide more diverse and high-quality financial services, promote the development of foreign investment and foreign trade, and help China's economy continue to recover and improve." said Lou Feipeng, a researcher at Postal Savings Bank. While deepening the high-level opening up of finance to the outside world, experts suggest that financial regulatory authorities should further fill institutional gaps and regulatory gaps, especially strengthen monitoring, analysis, and early warning of cross-border capital flows, ensure that regulatory capabilities are in line with development levels, and better prevent various risks that may arise from financial opening up. The President of the People's Bank of China, Pan Gongsheng, previously stated at the economic themed press conference of the Second Session of the 14th National People's Congress that in recent years, the People's Bank of China, together with other financial regulatory departments, has established a system of national treatment and negative list for foreign investment in the financial sector before admission, and has lifted restrictions on the proportion of foreign shareholding in areas such as banks, securities, and personal insurance. Pan Gongsheng said, "Next, people..."