The State Council has released further details about the Shanghai Free Trade Zone, which is set to open on Sunday.
As part of the plans Chinese banks in the Shanghai Free Trade Zone will be allowed to conduct offshore business, providing services to depositors who live in other countries.
Shanghai FTZ will also let foreign-funded financial institutions to set up banks.
Foreign banks will also be able to team up with Chinese private banks to establish joint-ventures.
Restrictions connected to the convertibility of the yuan will also be eased.
The government will also let the market determine its own interest rates.
For more on the impending opening of the FTZ, we're joined on the line by CRI's financial commentator Cao Can.
