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China unveils new measures to open up financial sector to foreign investors


China on Saturday unveiled a series of major measures to open up its financial sector to more foreign investment, a key part of Beijing’s efforts to resolve a trade war with the United States.

According to a statement from the State Council Financial Stability and Development Commission published by the People's Bank of China:

--- China will scrap foreign ownership limit for life insurance companies, securities brokerages and funding houses by 2020, a year earlier than scheduled.

--- Foreign companies . . .

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