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China Widens Access To Financial Markets For Foreign Investors


Tarikh kemaskini: 10/11/2017

BEIJING, Nov 10 (Bernama) -- China has specified the measures that will ease or lift foreign investment restrictions in its financial markets, China's Xinhua news agency reported.

Foreign businesses will be allowed to own up to 51 per cent of shares in joint ventures in securities, funds or futures, Vice Finance Minister Zhu Guangyao told a press conference. The cap will be phased out over three years.

Restrictions on investment in Chinese banks and financial asset management companies will be removed, Zhu said, elaborating on the consensus reached by China and the United States at a meeting Thursday.

After three years, foreign investors will be allowed to own up to 51 per cent of shares in joint ventures in life insurance, with the cap removed in five years.

Duty on automobiles will be reduced "at an appropriate pace," and restrictions on foreign investment in special and new energy vehicle manufacture will be eased in free trade zones before next June.....