CHINA EASES RULES ON FOREIGN STAKES IN JV SECURITIES

BEIJING - The China Securities Regulatory Commission (CSRC) has announced plans to raise the permitted cap for foreign holdings in joint venture securities firms from 33% to 49% in the latest of a series of moves designed to relax foreign ownership limits and to increase foreign direct investment. The regulator also plans to allow joint venture securities firms to apply for permission to expand their businesses two years after going into operation in China, down from five years (ATI).