China sets timetable to remove ownership cap on financial firms

The latest headlines crossed the wires now, via Bloomberg, citing that China’s securities regulator, the China Securities Regulatory Commission, scrapped the foreign ownership limits for futures companies from January 1.

Additional Headlines:

It will scrap limits on foreign ownership of mutual fund companies on April 1, 2020.

It will scrap limits on foreign ownership of securities firms on Dec 1, 2020.

The above piece of news is only going to add to the recent optimism fueled by trade deal hopes, although the markets are currently trading with caution ahead of the much-awaited trade meeting between the US President Trump and Chinese Vice-Premier Liu He.