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Foreign financial firms are ready for business

By Wu Yiyao in Shanghai | China Daily | Updated: 2017-11-23 07:04

Major change in overseas ownership rules in China will increase investment and boost competition

China's financial industry will become more competitive in the wake of the government's decision to further open up the sector to foreign competition.

Major new rules announced earlier this month by Zhu Guangyao, deputy finance minister, will give global investment banks and insurance companies unprecedented access to the world's second largest economy.

Foreign financial firms are ready for business

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