Home MARKETS Currencies China’s open hand to foreign banks greeted with caution

China’s open hand to foreign banks greeted with caution


China’s eye-catching decision to raise the limits on foreign ownership of domestic financial institutions looks like a seismic shift in policy. But bankers and analysts remain sceptical about how much difference the move will make — especially in the banking sector. Noah Sin reports.

China has finally opened the doors to foreign financial institutions, announcing a raft of rule changes that will give banks, securities firms, asset managers and insurers a chance to hold majority-ownership stakes in the country. It has scrapped a 20% foreign ownership limit on domestic banks and closed

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