Chinese financial institutions can cope with foreign competition –

BEIJING, Jan 16 () – Chinese financial institutions are completely capable of coping with foreign competition as the sector is freed up, the central bank said on Thursday, after China and the United States signed a initial deal on trade. The bank will strengthen financial supervision and prevent risks in the process of financial opening, it added in a statement. (Reporting by Beijing Newsroom; Editing by Clarence Fernandez)Our Standards:The Thomson Trust Principles.