Opening-up policies to boost competence of financial sector
(WorldNews China)

China`s stepped-up pace in financial sector opening-up amid the COVID-19 outbreak will not only sharpen the competence of its financial industry but contribute to global economic stability, experts said on April 6. The country lifted foreign ownership caps on securities firms and mutual fund companies on April 1, in line with the requirements of the nation`s financial opening-up agenda and the phase-one trade deal agreements between China and the United States. This followed the policy of allowing foreign capital to fully own futures and life insurance companies from Jan 1. With this, foreign financial institutions can now tap into the vast Chinese market without ownership limits in sectors...