Long-awaited U.S.-China trade deal touts financial sector wins; China to scrap securities business cap faster by michelleprice36 sumeet_chat
) plans to set up a wholly-owned securities business after agreeing last year to sell its stake in its previous joint venture.
But to China-watchers, a key pledge made in the slim financial services section of the deal to scrap foreign equity limits on firms operating in China’s fund management, futures and insurance sectors will feel familiar. U.S. President Donald Trump shakes hands with Chinese Vice Premier Liu He during a signing ceremony for"phase one" of the U.S.-China trade agreement in the East Room of the White House in Washington, U.S., January 15, 2020. REUTERS/Kevin Lamarque
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