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China: Authorities Unveil Timeline for Removing Foreign Ownership Limitations for Finance Firms

1 MIN READOct 11, 2019 | 14:56 GMT

What Happened: Chinese authorities have unveiled a timeline to remove foreign ownership limitations hindering companies in the finance sector, noting that they will gradually eliminate relevant regulations next year, Reuters reported Oct. 11.

Why It Matters: The decision to end stringent foreign ownership limitations comes as Beijing advances its timeline to open up its financial sector as it grapples with its escalated trade war with the United States.

Background: U.S. and Chinese negotiators are slated to meet for a second day of trade talks on Oct. 11.

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