Investment thresholds to be lifted

Top banking regulator vows plan on greater opening-up amid calls for policy support

China will further open the banking and insurance sectors to foreign investors, and may even allow foreign institutions to set up wholly owned companies in China, according to the country's top financial regulator on Monday.

Foreigner investors' proportion of equity will continue to increase, exceeding 51 percent in banks and insurance companies, and may even reach 100 percent, said Guo Shuqing, the People's Bank of China's Party secretary and head of the China Banking and Insurance Regulatory Commission, said in an interview with China Central Television.