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

Croatia signs bridge contract with Chinese consortium

Croatia Roads and the Chinese consortium led by CRBC signed a 2.08 billion kuna contract (340 million U.S. dollars) on Monday to construct the first phase of the Peljesac Bridge and access roads.【detailed】

Pakistan Neelum-Jhelum project to start operation: Chinese contractor

The Neelum-Jhelum project, one of the largest hydropower stations in Pakistan, will see its first turbine generator officially start supplying electricity to the national grid on Friday, said the Chinese contractor.【detailed】