A street in Shanghai. The China Banking and Insurance Regulatory Commission says it will collect public opinion on the rule change for a month. Photo: EPA-EFE
China to scrap foreign ownership cap for firms managing US$2.9 trillion in insurers’ assets
- Draft rules pave the way for foreign investors to raise their stakes in insurance asset management companies to 100 per cent and assume control
- Announcement seen as signalling China’s commitment to removing foreign ownership limits
A street in Shanghai. The China Banking and Insurance Regulatory Commission says it will collect public opinion on the rule change for a month. Photo: EPA-EFE
