China Widens Access to Financial Markets for Foreign Investors
Tang Shihua
DATE:  Nov 10 2017
/ SOURCE:  Yicai
China Widens Access to Financial Markets for Foreign Investors China Widens Access to Financial Markets for Foreign Investors

(Yicai Global) Nov. 10 -- China announced specific measures to ease or lift investment restrictions on foreign companies in its financial markets, Xinhua reported on Friday.

Foreign businesses will be allowed to own as much as 51 percent of shares in joint ventures in the securities, funds and futures industries, Vice Finance Minister Zhu Guangyao said at a press briefing. The cap will eventually be phased out in three years.

Current foreign ownership restrictions in Chinese banks and financial asset management companies will also be removed, Zhu said while elaborating on the consensus reached by state leaders of China and the US during a meeting Thursday.

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Keywords:   Foreign Investors Restrictions