China kept its 6.5% GDP growth target and stressed quality over speedy growth. The move could curb investment returns in the short term, but better ensure long-term stability.
Xiao Gang has been replaced as chairman of the China Securities Regulatory Commission, with his successor facing a number of thorny issues.
Foreign insurers are to be given full access to China within 18 months as control of state-owned financial sector firms is re-centralised, an adviser to Premier Li Keqiang has revealed.
Li Keqiang has called for more private banking licences to be issued, in a speech to the National People's Congress. He also made promising references to the launch of Shenzhen-Hong Kong Stock Connect.
Authorities release draft regulations for the pending scheme to link the two bourses, although updates on taxation and how trades can be placed are still to be announced.
CSRC chairman Xiao Gang and Hong Kong's Laura Cha say mutual recognition of funds is imminent, following yesterday's unveiling of the linking of the Shanghai and Hong Kong stock markets.