A Capital Opportunity
To quicken opening up the financial industry to foreign investors, the Chinese authorities scrapped the limits on foreign ownership in securities and fund management firms on April 1, bringing cheer to foreign companies seeking to set up wholly owned subsidiaries on the Chinese mainland.
Alicia Garcia Herrero, chief economist for Asia Pacific at French investment bank Natixis, told CGTN, “It’s very good news for the world because we are in the process of disintegration, deglobalization, which is being sped up by the coronavirus… So any measure to open up any country, especially China, is absolutely welcome.”
Initially, the authorities had planned to lift foreign ownership limits on brokerages, fund management firms and futures companies in 2021 but then fastforwarded the
