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Wall Street Finds China’s Door Still Open After Trade Spat

  • PBOC Governor details efforts for China’s historic opening
  • China says foreign firms can choose their partner in local JVs
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China’s PBOC pledges more openess. Alex Webb of Bloomberg Gadfly and Lisa Abramowicz discuss.(Source: Bloomberg)
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For global investment banks, the long wait for a more level playing field in China is finally drawing to a close.

China on Wednesday detailed a timeline to further open parts of its financial sector by June 30, easing concern that the historic move would be derailed by escalating trade tensions amid U.S. President Donald Trump’s threat to impose more tariffs. Additional easing, like giving foreign securities firms freer rein to enter new businesses, will follow by year-end.