China, the world's second largest economy after the US fighting slowing growth at home and a damaging trade war, will encourage foreign investors to set up wealth management firms, currency brokerages and pension management companies. – EPA pic, July 21, 2019.
CHINA lifted some restrictions on foreign investment in the financial sector yesterday, as the world’s second largest economy fights slowing growth at home and a damaging trade war with the United States. China will remove shareholding limits on foreign ownership of securities, insurance and fund management firms in 2020, one year earlier than originally planned, the Financial Stability and Development Committee said in a statement posted by the central bank yesterday.
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