Revised MOFCOM list restricts foreign investment in finance sector
9 November 2007
The National Development and Reform Commission and Ministry of Commerce jointly released the revised 2007 Sector Direction for Foreign Investment on Thursday, Economic Observer reported (in Chinese). The announcement listed sectors that are restricted for foreign investors, including: banking, financial and financial leasing companies, trust and investment companies, and monetary brokerage companies. Specifically, the guidelines set a maximum limit on foreign investors' share holdings in local securities institutions: below 33% for securities companies and below 50% for mutual fund management companies.
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