PBOC to meet Tuesday to discuss preliminary plan of big financial liberalisation measures
|Reuters quoting people familiar with the matter, citing that People's Bank of China (PBOC) is likely to hold a meeting on Tuesday to discuss preliminary plan of the big financial liberalisation measures.
Key Details:
PBOC to draft a package of reforms to give foreign investors greater access to China's financial services industry
Tuesday's meeting is to discuss its proposals, get feedback from Chinese institutions, and discuss a timetable
Plan details not yet final
Proposals include:
- Permission for foreign institutions to control their local finance-sector joint ventures
- Raising the current 25% limit on foreign ownership in Chinese banks
- Allow foreign firms to provide Yuan-denominated bank card clearing services
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