Home MARKETS Currencies China ups cap on foreign ownership of financial institutions

China ups cap on foreign ownership of financial institutions

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Authorities in China are removing the cap on foreign ownership on a series of financial sector joint ventures (JVs), Zhu Guangyao, deputy minister at the Chinese Ministry of Finance (MoF), said on November 10. The news came on the heels of US president Donald Trump’s visit to China.

Zhu told media on Friday that China has decided to lift the foreign ownership ratio from 49% to 51% in securities, fund management and futures JVs, according to a November 10 statement by the State Council Information Office. He added that the caps on foreign ownership will

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