Year-ender: Major financial news of China

China lifts restrictions on foreign participation in securities companies

China would lift foreign ownership limits on securities, fund management and futures companies by 2020, a year ahead of schedule, the office of financial stability and development committee under the State Council announced on July 20.

The China Securities Regulatory Commission later said that it would step up arrangements to implement the opening-up measures in the financial market.

The CSRC called the move an important step to deepen supply-side structural reform and expand opening-up in the financial market, which was in line with the demand of the sector and the capital market.

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