Financial sector opened up further

Foreign ownership limits in JV firms will be raised from 49% to 51%

China will raise foreign ownership limits in domestic financial firms and grant foreign investors greater access to the financial services market of the world's second-largest economy, a top official said on Friday.

Zhu Guangyao, vice-minister of finance, said the country will raise the limit on foreign ownership in joint-venture firms in the futures, securities and funds sectors to 51 percent from the current 49 percent.