Regulators have refused foreign investment joint venture applications in the financial industry, reported the Wall Street Journal. But analysts say the China Securities Regulatory Commission will probably lift its freeze within months as China must open the sector under its World Trade Organization obligations. The CSRC is said to be frustrated that access provided to foreign firms to mainland bourses has not had the intended effect to perk up lack luster market performance. China's equity market has lost half its value since 2001, but analysts blame poor performance on market abuses.
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