Foreign banks crave bigger slice of China JVs

Hopes are rising that regulators will at last sate global players' appetites for stakes of more than 50% in their Chinese securities joint ventures. Golden opportunities await.

According to US President Donald Trump, it was while eating “the most beautiful chocolate cake” that he told Chinese counterpart Xi Jinping the US Navy had just fired 59 missiles at Syria. Xi paused between mouthfuls to ask his interpreter to repeat the information.

Other intimacies of the April tête-à-tête in Mar-a-Largo are sadly lacking, so we do not know Xi’s reaction when Trump suggested lifting the ban on majority foreign ownership of Chinese securities and insurance companies. This, at least, must have been anticipated by Xi’s team as part of horse trading for Chinese cooperation against North Korea. The issue had been part of lengthy negotiations for a...

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