A Chinese national flag is seen among buildings at the Yujiapu financial centre, in Tianjin, China February 22, 2016 , Reuters/Jason Lee BEIJING — China will raise foreign ownership limits in financial firms in a…
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China opens up capital markets to drive reforms
Foreign firms get a chance to have bigger slice of financial service market as Beijing aims to be global banking hub BEIJING • Foreigners … Mr Xi is driving economic reforms by opening up China’s…
Foreign banks praise new rules that remove China ownership handicap
While Morgan Stanley initially had operational control of CICC, the first Sino-foreign brokerage joint venture between Morgan Stanley and China Construction Bank, and UBS and Goldman Sachs managed to gain operational control of their respective…
Beijing on brink of economic collapse, warns Chinese bank chief
Beijing [China], November 11 (ANI): Zhou Xiaochuan, the governor of China’s central bank – the People’s Bank of China (PBOC), has warned that China’s financial system is becoming more vulnerable due to high levels of…
China Opening Its Banks Is Great, If You Like Bad Debt: Gadfly
In a surprise move, and timed with U.S. President Donald Trump’s state visit, China said it would scrap foreign ownership limits for banks and asset management firms. Asia’s biggest economy has been talking about opening…
China to ease ownership limits on foreign joint ventures in finance sector
… since 2007 when foreign banks were allowed to set up locally incorporated operations in China. Foreign players in the insurance and investment banking businesses are obliged to operate through joint ventures with domestic companies,…
China Eases Limits on Foreign Stakes in Financial Firms
They have also been distracted by domestic issues and other trade issues. Some international banking acumen may be welcome in China. The country’s state-controlled banking system has lent heavily to state-owned companies and affiliates of…
China Big Bang Moment Opens Banks, Funds to Foreign Control
Policy makers had been hinting at an opening in recent months. Just yesterday, China’s Foreign Ministry said entry barriers to sectors such as banking, insurance, securities and funds would be “substantially” eased “in accordance to…
There are a bunch of signs that China’s banks will grow even stronger
The banking sector in the Asian economic giant is the largest in the world by assets, according to a Financial Times analysis earlier this year. The health of China’s lenders is closely-watched as a proxy…
China’s Big Bang Moment Opens Banks, Brokers to Foreign Control
On Thursday, China’s Foreign Ministry foreshadowed the latest moves, with a statement saying that entry barriers to sectors such as banking, insurance, securities and funds will be “substantially” eased. Those comments came following a meeting…
Changes to foreign ownership rules on China financial firms effective immediately
BEIJING (Reuters) – Changes to foreign ownership rules on Chinese financial firms are effective immediately, a vice finance minister said on Friday. Government agencies will draft and announce detailed rules on foreign ownership, Vice Minister…
Senior Chinese finance official: China will ease foreign ownership limits in finance, auto sectors following criticism
BEIJING — Senior Chinese finance official: China will ease foreign ownership limits in finance, auto sectors following criticism. Copyright 2017 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or…
China Bank books higher earnings in 3rd quarter
CHINA BANKING Corp. (China Bank) saw its net income grow in the third quarter as its core and fee-based businesses expanded. In a disclosure on Thursday, Sy-led China Bank said its consolidated net income in…
