Banking

China's financial system showed resilience and stability amid mounting external uncertainties, as the country moved to resolve systemic risks, the central bank said in a report released Friday.

The country's economic and financial risks remained generally under control, wrote the report released by the People's Bank of China (PBOC), which ruled out the possibility of systemic risks.

China's central bank continued to inject funds into the market on Tuesday to maintain liquidity. 

The People's Bank of China (PBOC) conducted 120 billion yuan (about 17.3 billion US dollars) of seven-day reverse repos at an interest rate of 2.55 percent, unchanged from the previous operation on Monday. 

Central bank governor Zhou Xiaochuan attends a news conference on the sidelines of the annual session of the National People's Congress in Beijing, March 9, 2018.

Yuan internationalization aids opening-up

Renminbi internationalization promotes China's opening-up, said Zhou Xiaochuan, governor of the People's Bank of China.

In terms of market access, China could take more bold actions to further open up, Zhou added.

China will allow foreign investors to freely remit their yuan-denominated profits and dividends and pledged to remove all barriers in cross-border trade and investment, the central bank said on Friday.

The People's Bank of China said the use of renminbi for cross-border trade and investment will help create a sound business environment and support the country's Belt and Road Initiative.