China to Ease Foreign Investment Restrictions in Financial Sector, NDRC Says
Yicai Global
/SOURCE : Yicai
China to Ease Foreign Investment Restrictions in Financial Sector, NDRC Says

(Yicai Global) Dec. 30 -- China will support overseas companies to list and issue shares and ease restrictions on foreign investment in the Chinese banking, securities, futures and insurance sectors, said Ning Jizhe, deputy head of the National Development and Reform Commission, the country's top economic planner and price setter.

In China, foreign investors are currently limited to holding a 49 percent stake via brokerages and are only allowed to engage in investment banking.

Individual foreign banks have a 20 percent cap on investment in mainland lenders. There is no limit on foreign ownership in the insurance sector, Ning said at today's State Council press conference.

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