China has announced a new measures to further open up its financial markets.
According to the office of financial stability and development committee under the State Council, China will allow foreign-funded institutions to conduct credit rating business with all kinds of bonds in China’s inter-bank and exchange bond market.
Overseas asset management agencies will also be permitted to co-establish foreign-controlled asset management companies with subsidiaries of Chinese banks or insurers.
The new rule allows overseas financial institutions to invest in setting up or holding stakes in old-age pension management companies in the country
