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China to end ownership limits for financial firms in 2020: Official

Posted On: Jul. 3, 2019 6:18 AM CST

Li Keqiang, premier of China, said that the country will end ownership limits for foreign investors in financial firms, including insurers, in 2020 – a year earlier than scheduled, Reuters reported citing sources. China recently allowed many foreign insurers and insurance brokers to either set up new businesses or expand their operations through majority ownership in domestic joint ventures.

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