China to Scrap Foreign Ownership Rules for Fintech Companies

[kreslik.news]

Merely a day after the start of Donald Trump’s visit to China, the central government of the country is taking steps to relax some rules governing financial services. The vice-minister of finance, Zhu Guangyao is on the wires this EU morning. He states that foreign companies will be allowed to control up to 51 percent of local firms providing financial services.

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The move could be a direct response to the US President’s suggestion that China relaxes market access for American companies. Several years of complaints from foreign companies bring ... (read more)