AFP, Beijing :
China on Friday said it will further open the country’s financial markets to foreign firms, a key demand from the United States and other global investors who have long complained about the strict limits on access to the giant economy.
The announcement came after Donald Trump’s state visit to Beijing during which he called for a more level playing field for US companies and measures to a massive trade imbalance.
Vice finance minister Zhu Guangyao said foreign firms will be allowed to own as much as 51 percent of shares of tie-ups in securities, funds and futures industries, according to the official Xinhua news agency.
China on Friday said it will further open the country’s financial markets to foreign firms, a key demand from the United States and other global investors who have long complained about the strict limits on access to the giant economy.
The announcement came after Donald Trump’s state visit to Beijing during which he called for a more level playing field for US companies and measures to a massive trade imbalance.
Vice finance minister Zhu Guangyao said foreign firms will be allowed to own as much as 51 percent of shares of tie-ups in securities, funds and futures industries, according to the official Xinhua news agency.
