China releases rules to open securities sector to foreign investors

On April 29, China released new management rules on foreign investment in the securities sector, as the government takes steady steps to open its financial sector wider.

The revised rules released by the China Securities Regulatory Commission allow foreign investors to take a controlling stake in joint-venture securities firms, and promise to gradually expand the business scope of such firms.

China will equalize foreign investors' equity shares in listed and unlisted securities companies according to the rules, which also set qualification requirements for overseas shareholders.