China to Roll Out Red Carpet for Foreign Financial Firms
China plans to grant overseas investors greater access to its financial market, in a bid to invigorate the country’s financial services sector.
Foreign companies will be allowed to own a majority stake — up to 51% — of any joint venture in the securities, funds, and futures industries, up from a current cap of 49%, Vice Finance Minister Zhu Guangyao said at a recent press briefing.
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