Curriencies

China to scrap foreign ownership limits in finance firms


A Chinese flag floats in the middle of traditional lanterns in the alleyways in Beijing, China.Vincent Isore | IP3 | Getty ImagesChina’s securities regulator on Friday announced the timetable for scrapping foreign ownership limits in futures, securities and mutual fund companies. Limits on foreign ownership of futures companies will be scrapped January. 1, 2020, the China Securities Regulatory Commission told a press conference in Beijing. Limits on foreign ownership of securities firms will be removed on Dec. 1, 2020, while such limits will be scrapped formutual fund companies on April 1, 2020.

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