On November 10, China’s Vice Finance Minister Zhu Guangyao said at the information meeting in Beijing that China has decided to further open its financial services industry. In addition to the committed liberalisations of the foreign shareholding restrictions in domestic securities, future, fund management and life insurance companies, of particular interest is that qualified foreign banks will be allowed to hold the same percentage as Chinese investors can hold in Chinese domestic banks and asset management companies. Click here for more.
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