INSUBCONTINENT EXCLUSIVE:
BEIJING: China removed limits on foreign ownership of its banks and bad-debt managers, pushing ahead with a previously announced plan to
open its financial system despite rising trade tensions with the US
Overseas financial institutions will now be treated the same as local companies, the China Banking and Insurance Regulatory Commission said
in a statement late Thursday, following through on a pledge announced last year
longstanding effort to increase its integration with the global financial system, but it may also help President Xi Jinping counter
criticism from US President Donald Trump that China has been a one-sided beneficiary of global commerce
