China mulls removing ownership caps for financial institutions

Pedro Gonçalves
clock • 1 min read

Chinese financial regulators are considering removing limits on foreign ownership of domestic financial institutions, a key concession that has been long sought by the US during the trade war negotiations. Yi Gang, governor of the People's Bank of China, said the central bank would support a pilot programme based in Shanghai to remove the foreign ownership limit in firms providing securities and fund management services. The effort was part of measures to help build the city into an international financial centre, he said. The governor  was speaking at the Lujiazui Forum in S...

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