, Columnist
China's Financial Fortress
Even if rules are eased, it will be tough for foreign firms to make much headway.
This article is for subscribers only.
China is planning to open up its financial sector. For foreign investors, it may already be too late.
Overseas firms may soon be able to buy more than 25 percent of a Chinese lender, set up investment banks and brokerages without a local partner, and expand into health, pension and catastrophe insurance, Bloomberg News reported Monday, citing people familiar with the matter. They may also be allowed to control their local finance-sector joint ventures, where rules currently limit them to 49 percent stakes.