The China Securities Regulatory Commission (CSRC) announced new rules over the weekend that will give foreign firms greater freedom in China’s financial sector, including the potential own majority stakes in domestic companies.
In addition to raising the foreign ownership cap to 51%, the revisions also removed a 20% limit on individual foreign investor ownership in Chinese listed securities firms, the Wall Street Journal reports.
According to the CSRC, foreign investors applying for majority ownership should have “a good international reputation and operating performance”, with three years of profits and earnings “among the highest in the world”.