|In the spotlight: efforts to open 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...