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China opens financial markets for foreign investors, lifts ownership limits

The plan to ease ownership restrictions comes as Beijing faces mounting pressure from Western governments and business lobbies

Reuters  |  Beijing 

The Chinese government on Friday said it will raise foreign ownership limits in domestic financial firms, a long-anticipated step that grants greater access to overseas investors into the Asian giant's financial services market. The move, announced by vice finance minister Zhu Guangyao, comes a day after U.S. President Donald Trump reiterated calls for better access to Chinese markets in meetings with Chinese President Xi Jinping. The changes include raising the limit on foreign ownership in joint-venture firms involved in the futures, securities and funds markets to 51 ...

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First Published: Fri, November 10 2017. 23:31 IST