China plans to open up more to foreign investment
(17 January 2017 – China) China’s cabinet has announced measures to further open its economy to foreign investment, including easing limits on investment in banks and other financial institutions.
China aims to limit restrictions on foreign investment in banking, securities, investment management, futures, insurance, credit ratings and accounting, the State Council said in a statement.
However, there were no further details were provided in regards to timing or implementation.
The measures come as President Xi Jinping seeks to project China as a world leader in fighting protectionism and defending globalisation. China will keep its door wide open and not close it, Xi told the World Economic Forum in Davos, Switzerland.
The state council also said in a statement foreign-invested firms would be allowed to list on the Shanghai and Shenzhen exchanges as well as a New Third Board, the country’s biggest over-the-counter equity exchange.