China to Encourage Foreign Investment by Easing Investment Restrictions

China is looking to ease restrictions on foreign investment in its industries, starting with the removal of the current limit on the foreign ownership of banks and asset management companies.

The move hopes to help Beijing build itself into an attractive international fiscal management centre and hub, stated the head of the Chinese Bureau of Financial Work.

Beijing will supports leading domestic and overseas financial firms to cooperate with Chinese firms in financial technology and security sectors. Financial firms are also being encouraged to establish angel funds, venture capital funds and private equity funds in Beijing.