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China's financial opening still leaves uneven playing field

Relaxation of foreign ownership limits comes too late to have much impact

| China
Opening the door to China's financial sector?   © Reuters

Did U.S. President Donald Trump's visit to China really play a role in Beijing's decision to relax its limits on foreign ownership in the financial sector?

For over two decades, foreign financial institutions have been lobbying and begging for majority, and ultimately full, control over their onshore operations in China. Instead, there has been a string of failed partnerships with hopes far outstripping reality, yet still providing some decent financial returns.

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