Measures for Further Opening up the Financial Sector

On 20 July 2019, the People’s Bank of China announced measures to further open China’s financial sector to foreign capital. Foreign-funded institutions are henceforth allowed: to conduct credit-rating businesses for the bond market; to establish foreign-controlled asset-management companies jointly with subsidiaries of Chinese banks and insurers; to invest in pension management companies; wholly-own currency brokerage; to invest beyond 25% equity in insurance asset management companies held by domestic insurers; and to obtain certain underwriting licenses in the inter-bank bond market, among other measures.

• Type:

  • Entry and establishment (Ownership and control)
  • Treatment and operation (Operational conditions )

• Industry:

  • Services (Financial and insurance activities)

• Sources:

  • The People's Bank of China, Measures for Further Opening Up the Financial Sector, http://www.pbc.gov.cn/en/3688110/3688172/3863256/index.html, 22 Jul 2019
  • The State Council, China unveils new financial opening-up measures, http://english.www.gov.cn/statecouncil/ministries/201907/20/content_WS5d3309c6c6d00d362f668986.html, 20 Jul 2019
  • China Law Insight, China's 11 measures to further open up its financial sector, https://www.chinalawinsight.com/2019/07/articles/finance/chinas-11-measures-to-further-open-up-its-financial-sector/, 31 Jul 2019