Economic news

China to give foreign investors greater access to financial sector

China will abolish the rules that limit the 25% share of foreign capital in Chinese banks and asset management firms.

Foreign companies will be allowed to gain control in local brokerage companies: the limit for them will be raised from 49% to 51% in the near future, and it will be completely canceled in three years, vice finance minister Zhu Guangyao said.

November 9, during U.S. President Donald Trump visit, China's President Xi Jinping said that his country is still deeply committed to economic reforms and is going to become more open.


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