China plans to execute a number of new measures to open up its financial markets further in a bid to boost the sector's management and competitiveness, according to the China Banking and Insurance Regulatory Commission (CBIRC). In an interview with state press agency Xinhua, CBIRC chairman Guo Shuqing said that a total of 12 new rules will be released soon after a detailed evaluation and research is conducted. He also said that Chinese financial authorities will speed up the development of related laws and regulations to facilitate the execution of these measures.