According to Yi Gang, the Governor of the People's Bank of China, before the end of this year, China will implement a series of financial liberalization measures: (1) Encourage the introduction of foreign investment in banking financial sectors like trust, financial leasing, automobile finance, currency economy, and consumer finance (2) There is no upper limit on the proportion of foreign investment held by newly established financial asset investment companies and wealth management companies of commercial banks; (3) The business scope of foreign banks will be greatly expanded. (4) There will no longer be limit on the scope of business of joint-venture securities companies; both Chinese and foreign investments will be treated the same way.