China to abolish foreign ownership caps in finance in 2021

Beijing allows majority stakes in insurance and securities effective July

20180629N Yuan and foreign currencies (REUTERS)

China's markets are opening up further to foreign ownership in key fields like finance and autos, but technology remains closed off amid tensions with the U.S.

ISSAKU HARADA, Nikkei staff writer

BEIJING -- China released its latest list of areas off limits to foreign investment on Thursday, cutting the number of restrictions to 48 from 63 as it opens more markets, most notably in finance.

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