In 1990’s, China introduced the Value-added Tax (VAT), which is a French invention. The reform has a large impact on China’s economic and trade development. We also felt that if we couldn’t have understood international experiences and followed the best practices, we would probably have zigzagged in our development or even paid a heave price.
Therefore, we value the opportunity to exchange views with our French friends. Financial market has also shown a globalization trend. Along with further reform and opening-up in China, foreign capitals will continue to participate in the Chinese financial sector, while more and more Chinese institutions and capitals will go abroad to actively participate in the financial globalization.