China widens access to financial markets for foreign investors

China Friday announced specific measures to ease or lift investment restrictions on foreign companies in its financial markets.

Foreign businesses will be allowed to own as much as 51 percent of shares in a joint venture in securities, funds and futures industries, Vice Finance Minister Zhu Guangyao said at a press conference. 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 consensus reached by state leaders of China and the United States during a meeting Thursday.

Editor: zhangjunmian
Today’s Recommendations

China-EU Tourism Year opens with official ceremony in Venice

As tourism increasingly becomes a key factor for economic development worldwide, two major global actors met here on Friday to agree on boosting cooperation and investments in the sector.【detailed】

Chinese enterprise builds world's largest single-unit solar power plant in Morocco

Power Construction Corporation of China said that it has completed the second phase of a solar plant with world's largest single-unit capacity in Morocco.【detailed】