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BEIJING (Reuters) - China will lift the ceiling on foreign equity ownership in joint-venture firms involved in the futures, securities and funds markets to 51 percent, a vice finance minister said on Friday.
No specific timetable was given for lifting the equity ownership limit to 51 percent from the current 49 percent.
Zhu said the time is right for China to step up the liberalisation of its financial sector.
(Reporting by Kevin Yao and Stella Qiu; Editing by Sam Holmes)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)