Asia Pacific: eyes on the prize

Author: Karry Lai | Published: 17 Oct 2018
In the spotlight: efforts to open up capital markets

Opening up

The China Banking and Insurance Regulatory Commission (CSRC) has announced that limits on foreign ownership of Chinese banks have been removed and that overseas financial institutions will be treated the same as local companies. The plans are in line with the central government's plan to remove caps on foreign institutions' ownership of Chinese banks by 2021.

Continuing its efforts to liberalise local capital markets, China is planning to resume normal trade in stock index futures. Strict requirements on stock index futures trading were put in place after the 2015 stock market crash. Fang Xinghai, the CSRC's vice chairman also said that regulators would continue to work towards giving commercial banks more access to China's bond futures market.

China's Ministry of...