China starts lifting restrictions on foreign investment

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From the start of 2020, foreign banks can now set up wholly-owned branches in China without a local partner holding the majority stake, the banking regulatory authority, CBIRC, announced on Friday.

In the past, foreign banks were required to have a local Chinese partner and not allowed to hold more than 49 percent of their respective joint ventures.

The world's top two economies have been waging a merciless trade war since March 2018, resulting in mutual tariffs being slapped on hundreds of billions of dollars' worth of annual trade.

 

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China realising what South Africa fails to see.

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