Skip to main content

Chinese investors monitor stock prices at a brokerage house in Beijing.

Mark Schiefelbein/The Associated Press

China announced a timetable Friday for carrying out a promise to allow full foreign ownership of some finance businesses, starting with futures traders on Jan. 1, as Beijing tries to make its slowing economy more competitive and efficient.

Ownership limits will be ended for mutual-fund companies on April 1 and for securities firms on Dec. 1, the China Securities Regulatory Commission said on its website. Until now, foreign investors have been limited to owning 51 per cent of such businesses.

The announcement comes as U.S. and Chinese negotiators are meeting in Washington for talks aimed at ending a tariff war.

Story continues below advertisement

Premier Li Keqiang announced plans in July to lift ownership limits in financial services a year ahead of the previously announced target of 2021.

China has promised repeatedly to open the industry to foreign investors, but the United States and other government complain Beijing is dragging its feet or imposing regulations that limit competition.

Regulators earlier announced plans to end caps on foreign ownership of banks, insurance companies and pension-fund managers.

The government has announced initiatives over the past 18 months to end caps on foreign ownership of auto manufacturers, insurance companies and other enterprises.

Foreign business groups welcome the changes but say investors need to see regulations that will be imposed on them to know whether such ventures can be profitable.

Report an error
Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

Read our community guidelines here

Discussion loading ...

Cannabis pro newsletter
To view this site properly, enable cookies in your browser. Read our privacy policy to learn more.
How to enable cookies