Foreign financial firms eyeing China's market

Updated 2017-12-13 10:05:20 Global Times

More and more foreign financial companies are preparing to enter the Chinese market, following recent government measures to further open up the domestic financial industry, the Securities Daily newspaper reported on Tuesday.

As of Tuesday, seven foreign private equity funds have set up operations in China this year, with newcomers including Canada's Value Partners Investments Inc and U.S.-based Invesco Asset Management Ltd and Neuberger Berman, the report said, citing the Asset Management Association of China.

The report added that more foreign institutions are likely to join the Chinese market.

China has announced various measures to ease or lift investment restrictions on foreign companies in the financial market, including allowing foreign companies to own as much as 51 percent of shares in a joint venture in the securities, fund and futures industries, the Xinhua News Agency reported on November 10, citing Vice Finance Minister Zhu Guangyao.

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