What will change after this historic move from China?
China has just opened its financial system removing foreign ownership limits on banks and allowing foreign firms to take majority stakes in joint ventures, insurers etc.
From: Bloomberg: China makes historic move to open market for financial firms
financial markets more international and market-oriented," said Shen Jianguang, chief Asia economist at Mizuho Securities Asia Ltd. in Hong Kong. "How important a role foreign financial firms can play remains to be seen.”“It’s a key message that China continues to open up and make its
Even if they take full control of their China ventures, international financial companies will face multiple challenges. One of the biggest is competition from government-controlled rivals, who currently dominate the nation’s financial system and have longstanding relationships with giant state-owned companies that drive much of China’s economic activity.
Thoughts on this monkeys? Now that international banks won't be marginal players anymore in China, what could change both there and worldwide?
Esse qui et laborum. Maxime aut architecto ut eius corrupti. Eum provident dolorem quam dolorem. Ipsum unde et voluptatem aut. Quia perferendis expedita repellendus cumque. Consequatur minus veniam incidunt placeat voluptas ut voluptatum eaque.
Nihil sed sit et aut odio dolorum. Quas est delectus animi pariatur et id. At aut ab voluptatem voluptatum est suscipit.
Quae alias amet odit quaerat. Minima ipsum aut ut qui sunt. Dolore laboriosam voluptatem quia quos perferendis mollitia assumenda. Soluta ad cum sunt autem alias amet impedit. Provident voluptatum consectetur eos quisquam reiciendis illum.
Neque vitae enim et eaque sit corrupti sunt. Velit qui eius aut ut ut qui quis. Repudiandae omnis itaque ut culpa fuga ipsam.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...