China to Cancel Foreign Ownership Ceiling for Securities Firms on 1 April: CSRC

 -  -  101


China’s securities regulator has set a concrete date for the removal of ceilings on foreign investment in domestic securities firms.

The China Securities Regulatory Commission (CSRC) has just announced that starting from 1 April 2020 it will cancel the restriction on foreign ownership in Chinese securities firms.

Qualified offshore investors will be permitted to submit applications to establish their own securities firms in China or become the real controllers of existing securities firms.

According to CSRC the move is part of overall efforts to further open the Chinese financial sector, as well as implement the requirements of the Sino-US phase 1 trade agreement.

The next step for CSRC will be to “continue to firmly implement overall arrangements for China’s foreign opening and actively advance the progress of the opening of the capital market.”

Related stories

Bei­jing Sets Time­frame for Can­cel­la­tion of For­eign In­vest­ment Ceil­ings for Chi­nese Se­cu­ri­ties Firms

MOF Flags “Ra­tio­nal” Ad­just­ments to State-Own­er­ship of Chi­nese Fi­nan­cial In­sti­tu­tions

China Aims to Trans­form Shang­hai into In­ter­na­tional Fi­nance Cen­tre, Key Tri­als to Take Place in Lin­gang New Area

For­eign Sub­sidiary Banks in China Ex­pand from Four to 39 Since 2007

10 recommended
comments icon 1 comment
1 notes
474 views
bookmark icon

Write a comment...

Your email address will not be published. Required fields are marked *