please contact sales@tanchin.hk for any inquiry
According to French media, China cautiously continues to implement the policy of opening up the financial sector to foreign capital. According to a communiqu é issued on January 3 by the Insurance Regulatory Commission of Bank of China (3.720, 0.03, 0.81%), foreign banks can open branches in China in the future. Other countries have been asking for a long time.
So far, foreign banks need to work with local partners in order to operate in China (except Hong Kong), with a shareholding ratio of no more than 49%, the French echo website reported on January 5.
According to the report, the Chinese government has promised to lift these restrictions for several years. In November 2017, officials of the Ministry of Finance announced to raise the upper limit of the shareholding ratio of foreign capital in securities companies, fund management companies, futures companies, life insurance companies, etc., and announced the specific timing of the opening of the financial industry to foreign capital.
According to reports, in December 2018, UBS group, a private banking giant, became the first foreign institution to be licensed to hold 51% of a securities firm in China. UBS now plans to double the number of employees trading Chinese securities in three to four years. In terms of insurance industry, AXA insurance company of France completed its holding of the joint venture AXA Tianping property insurance company in 2018, becoming the first foreign insurance group to hold 100% of the Chinese subsidiary.
According to the report, the financial market opening schedule was officially announced in September last year, from 2021 to 2020. Since the beginning of this year, foreign futures companies have been able to invest in China without restrictions. Fund managers will benefit from this measure from April, while securities companies will have to wait until December 2020. Taking a slice of a financial market with a total value of about $40 trillion is an important challenge.


please contact sales@tanchin.hk for any inquiry
PREVIOUS:Bearing side cover packing Improvement        

7318 BECBP 7318 BECBM 7318 BECBJ 71972 AMB 71972 ACMB 71872 ACM/P5 7268 BGM 7068 BGM 71968 ACMB 466952 7064 BGM 71964 AC 7060 BGM 7060 AGM 7256 BM 7056 BGM 7252 BM 7348 BCBM 7248 BCBM 7048 BGM